{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"How to Build a Lasting Business Legacy With Lorin Beller","description":"In This Episode Selling a business doesn't have to mean losing the people, knowledge, and culture that made the company valuable in the first place. In this episode, Adi Klevit interviews Lorin Beller about employee ownership, business transitions, and the role ESOPs can play in preserving a company's legacy. Lorin shares the story of selling a multimillion-dollar company she built with two partners and why, looking back, she wishes she had known about employee ownership. Her experience shaped her belief that owners should understand all of their options before deciding how to exit or transition their companies. The conversation explores what can happen when employees become owners. Rather than allowing years of institutional knowledge to disappear after a sale, an ESOP can provide a path for employees to remain invested in the company's future. Adi connects this to the importance of getting knowledge and know-how out of people's heads and into the business so the organization can continue without being dependent on one person. Lorin expands the idea further, explaining how keeping a locally owned company intact can also have a positive impact on the surrounding community. Lorin and Adi also discuss what owners need to consider before transitioning out of their businesses. A successful transition depends on more than the transaction itself. Owners need to consider whether they have the leadership team, knowledge, systems, and organizational structure necessary for the company to continue without them. Lorin explains that an ESOP can be structured in different ways, allowing an owner to leave, remain on the board, consult for a period of time, or transition into another role based on what they want their next chapter to look like. &amp;nbsp; ","author_name":"Systems Simplified","author_url":"http:\/\/systemssimplifiedpodcast.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/43143213\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/43143213"}