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071024 | Matt Cropp

Welcome to the Alternative Exit

"Today, we’re joined by Matt Cropp, a longtime advocate of co-ops and employee ownership, and is an expert in alternative ownership models.

Matt currently serves as the Executive Director of the Vermont Employee Ownership Center (VEOC), where he helps businesses transition to employee ownership structures, promoting sustainable and community-focused economic growth.

Matt is also actively involved in multiple cooperative ventures, Matt’s dedication to building resilient and equitable business ecosystems makes him a trusted leader in the space. I’m excited to explore his journey and dive into how we can reshape our approach to ownership and economic development."

Matt, Welcome to the Alternative Exit

Interview Questions:

From your experience, how do employee-owned businesses and cooperatives contribute to local economic development compared to traditional business models? How do they differ

(Gives him the opportunity to discuss the broader impacts of employee-owned cooperatives on local communities and economies(

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Platform Co-op Resource Library⁠

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Investor owned business/Startup>exit models

Purpose trust

Benefirts for the employees

You share the risk

Community

Generating wealth - retirement owns

You’ve been involved in the alternative economic models for many years. What first sparked your interest in cooperatives and employee ownership?

(Allows Matt to share his personal story and what inspired his passion for cooperative models(

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Seven Days⁠

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).)

As the Executive Director of VEOC, what have been some of the biggest challenges and successes you’ve encountered while helping businesses transition to employee ownership?

(This can lead to a discussion about his role in supporting Vermont-based businesses through the complexities of ownership transitions(

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Vermont Employee Ownership Center⁠

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).)

Examples

Carris Reels

2nd generation transition

ESOPs

Limited approach to valuation

Would like to simplify that approach

Cut off 20 employees 500k in profit

CO-ops

Basics

You’re known as an advocate for steward ownership and alternative governance models. What makes these structures particularly appealing, and how do they differ from conventional business ownership?

(This question dives deeper into the different types of ownership structures Matt works with and why they are effective(

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Platform Cooperativism Consortium⁠

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).)

OpenBook

Aligning the business to a single metric

Employee

Fear of abandonment

Built the bylaws

looked at financing models

What role do you see cooperatives and employee ownership playing in addressing today’s economic and social challenges? Are there specific sectors or areas where you see the most potential?

(This allows for a forward-looking discussion on the future role of cooperatives in addressing key challenges like wealth inequality and economic resilience.)

What advice would you give to business owners or community leaders who are considering transitioning to a cooperative or employee-owned model?

(Encourages Matt to share practical insights for anyone interested in implementing cooperative ownership models.)

What happens in a sdown market

Downside performance should not abe a surprise

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? Melissa Hoover. Democracy at Work

What is your favourite resource on employee ownership. NCEO. The lending opportunity of a generation

What would you say to an business owner sitting on the fence re: employee ownership.

Best resources with feasibility

NCEO has some basic items

Valuation

Thank you.

Thank you so much for your time and sharing your thoughts with us today.

Where can people follow you if they would like to learn more?

Annual Conference, May 30th

In addition to your work at VEOC, you co-founded the Vermont Real Estate Cooperative to address the housing crisis. Can you tell us more about the vision behind this project and how cooperative ownership models can help tackle housing issues?

(Focuses on his involvement in developing innovative housing solutions through cooperative ownership(

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Seven Days⁠

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).)

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