
How the Owner Retired, Got a Fair Value & Benefited Employees
Meet Linda Wurzbach, who recently retired from a successful 12-person education consultancy using an employee ownership model. Resources for Learning’s path to a worker co-op showcases a successful transition and the win-win for Linda and her employees.
In this episode you’ll hear about:
Using revenue-based financing to make employee ownership work for their professional services business
Landing the exit - getting fair value while preserving her legacy and team
Bringing several advisors together who worked together as a transition team
The Resources for Learning team bloomed as they embraced democratic co-op culture and decision-making
Timestamps
00:00 Introduction to Resources for Learning
02:53 The Journey to Employee Ownership
05:18 Exploring Co-op Models
07:50 Valuation and Financial Considerations
10:11 Building a Support Network
12:35 Transitioning to a Worker Cooperative
14:19 Employee Perspectives on Ownership
16:51 Challenges of Managing Change
19:03 Finalizing the Transition
21:36 Looking Ahead: The Future of the Co-op
26:20 Decision-Making Dynamics in Co-ops
30:03 Qualities of Effective Advisors
32:39 Navigating Financing Challenges
35:00 Building Relationships with Lenders
38:26 Employee Ownership and Board Dynamics
42:43 Pain Points in Transitioning to Employee Ownership
46:58 Encouragement for Future Business Owners
48:17 Outro and Call to Action
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