In this episode of the Business Strategy podcast, host Steve Coughran engages in a thought-provoking discussion with Michael Bannon, Vice President of CSG Partners, about "The Essentials of ESOP Planning". Steve begins by asking Michael to explain what an ESOP is and how it works, highlighting its key benefits for both employees and employers. They delve into factors that companies should consider when deciding whether to implement an ESOP, including specific industries or company sizes that may be more suited to this approach. The conversation proceeds to explore the steps involved in planning and setting up an ESOP, while addressing the legal and regulatory requirements that need to be navigated. Michael also shares insights on how companies can ensure that their ESOP is structurally aligned with their long-term goals and values, highlighting common mistakes and pitfalls to avoid during the setup process. By covering these essential topics, Steve Coughran and Michael Bannon provide listeners with a comprehensive understanding of ESOP planning, empowering them to make informed decisions regarding employee ownership plans. Links: Do you have ideas or feedback to share? Email me at [email protected] To learn more about us, visit:  https://www.coltivar.com/ Check out our free masterclass "The Surprising Path to Excellence". Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the show