Tag: ESOP
De-Risking Your Business: Jim Doyle on Partial Sales and Full Exits (Ep. 40)

De-Risking Your Business: Jim Doyle on Partial Sales and Full Exits (Ep. 40)

By |

Many entrepreneurs start their exit journey with a partial sale to de-risk from a substantial portion of their wealth being tied up in the business. Doing so sets them up for an eventual full exit.

In this episode, Mark Dorman speaks with Jim Doyle, who founded and sold Jim Doyle and Associates (now JDA.Media). Jim shares his experience of navigating ESOPs (employee stock ownership plans) and eventually selling his business to a strategic buyer.

Jim discusses: 

  • The process of making his business “sellable”
  • How the ESOP helped his employees develop an ownership mindset, enhancing the company culture
  • Leveraging consultants, mastermind groups, and new executive leadership in the firm
  • The emotional side of exiting a business (and how he dealt with it)
  • Why you should always be thinking about “What’s next?”
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Jim Doyle:

About Our Guest: 

Jim Doyle loves sales, and he loves salespeople. He’s been selling and leading salespeople for almost fifty years. In 1991, he founded Jim Doyle and Associates, which is now the leading training and revenue development company in the Television and digital advertising business. During his 30 years with JDA, Jim presented workshops on sales and marketing to audiences all over the United States. Jim stepped away from the day-to-day leadership of what is now called JDA.media in 2020. But he’s quick to say he is a long way from being retired. He is still frequently speaking to salespeople and leaders about the principles in his new book, Selling with a Servant Heart.

Podcast: Play in new window | Download | Embed

Subscribe: RSS
Is an ESOP the Correct Exit Strategy for Your Business? With Kevin Vonderau and Dan Bender (Ep. 8)

Is an ESOP the Correct Exit Strategy for Your Business? With Kevin Vonderau and Dan Bender (Ep. 8)

By |

Employee stock opportunity plans aren’t just for employees as the name suggests. Business owners can benefit from ESOPs just as much.

In this episode, Mark Dorman is joined by Kevin Vonderau, Executive Vice President and Chief Lending Officer of Westfield Bank, and Dan Bender, Senior Vice President at Westfield Bank, in discussing the role of ESOPs in business planning both for business owners looking to exit their business and their employee’s retirement plans.

Kevin and Dan discuss: 

  • What ESOP stands for and how it fits within business planning
  • How ESOPs work for employees versus business owners
  • What a leveraged ESOP is and the bank’s role in those types of ESOPs 
  • Top five industries that benefit from including ESOPs
  • And more

Resources:

Connect with Kevin Vonderau:

Connect with Dan Bender:

Connect with Mark Dorman: 

About our Guests: 

Kevin Vonderau has been meeting the banking needs of clients in Northeast Ohio for over 25 years. During that time, he has gained a broad understanding of the services and products that they offer to solve their client’s financial needs. This deep knowledge and experience allows Kevin to not only create solutions for his customers but also gives him the expertise to help them avoid or overcome obstacles. At Westfield, they know that in business, it’s all about networking. Kevin look for ways to help his customers build their contact base. Through various events, many of which they host here on the Westfield campus, and his network of trusted colleagues, he is able to connect his customers with experts outside of the banking industry who can help them grow their businesses and plan for their future.

Dan Bender is an experienced Commercial Relationship Manager with Business Banking and Middle-Market experience in the Greater Cleveland area. His expertise includes establishing credit facilities for working capital, capital expenditures, business acquisitions, and real estate purchases and refinancing. He also maintains commercial relationships for non-borrowing customers who require treasury management services.

Podcast: Play in new window | Download | Embed

Subscribe: RSS

Archives

Categories