Hello and welcome to the Alternative Exit.
Today, we’re joined by Steve Storkan, Executive Director of the Employee Ownership Expansion Network (EOX), a nonprofit dedicated to expanding employee ownership across the U.S.
With over 25 years of experience in the field, Steve has been instrumental in promoting ESOPs and other ownership models.
We’ll explore Steve’s journey, EOX’s mission, and the future of employee ownership.
Steve, welcome to the Alternative Exit
Interview Questions:
With over two decades in the employee ownership sector, what initially drew you to this field, and how has your perspective on employee ownership evolved over the years? Encourages Steve to share his personal journey and the evolution of his views on employee ownership. Employee Benefits law firm. 1996. Formed a company to do 3rd party admin. CFP Administrators are often focused on the numbers 3rd [arty admins wasn’t helping the employees to understand what are the biggest challenges, it is hard to find an employee to Challenges were the valuation piece In your experience, what are the primary challenges businesses face when considering a transition to employee ownership, and how can State Centers assist in overcoming these obstacles? Explores common barriers to adopting employee ownership and the support mechanisms available. The information isn’t passed down to the people who have to share it with their employees We are not seeing the increases in participants Needed to build the network to prove that to investors - philanthropic 70% of the US state centres Biggest barrier - access to capital, CPAs > future proofing, expanding their business Education, access to capital As the Executive Director of EOX, you've set ambitious goals for expanding employee ownership across the U.S. What strategies have been most effective in establishing new State Centers for Employee Ownership? Seeks insights into the successful approaches used to promote and establish state centers. EOX aims to create one million new employee owners by 2025. How do you measure progress toward this goal, and what milestones have been achieved so far? Inquires about the metrics used to track success and recent accomplishments. Looking ahead, what emerging trends or developments do you foresee in the employee ownership landscape, and how is EOX preparing to address them? Invites Steve to discuss future prospects and EOX's strategic planning. Capital 22 new EO funds in the EO > Engaging financiers, Private Equity =short term ownership Think about acquisition to scale towards employee ownership, ESOP holding company. Fast round
Fast round of questions. I ask you a 3 questions and you offer a quick response. Does that sound ok?
Who is the leader you most admire in EO? Corey Rosen, NCEO What is your favourite resource on employee ownership? NCEO, Rutgers Universoty What would you say to an business owner sitting on the fence re: employee ownership. Let it be in the room, should be in the room where it happens. Give
Thank you.
Thank you so much for your time and sharing your thoughts with us today.
Books -
Where can people follow you if they would like to learn more?
LinkedIn EOX -
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