Are you thinking about transitioning your business to an Employee Ownership Trust (EOT)? Explore a vital lesson from this Exit Insights episode with Chris Maslin, who smoothly navigated his business through an EOT exit.

One key insight from Chris's experience is the importance of considering the needs of key staff when structuring an EOT exit. It's tempting for founders to focus solely on creating the best deal for themselves, but the success of the transition hinges on making it work for the individuals who will lead the business post-sale.

Chris highlighted the significance of aligning the EOT deal with the interests of the senior team who will take over the business. He stressed that if there's nothing in it for them, there's a real risk of them leaving, potentially causing disruptions to the business.

This insight underscores the critical role of key staff in the EOT transition process and highlights the necessity of ensuring that the deal is mutually beneficial. By prioritising the needs and incentives of the leadership team, founders can lay a strong foundation for the continued success of the business under employee ownership.

Chris's experience serves as a compelling reminder for business owners considering an EOT exit to carefully consider the impact on key staff and prioritise their involvement in the transition process.

Have you thought about how an EOT transition might affect your key staff? What strategies do you think would effectively align their interests with the business's future success?

Watch episode here: https://succession.plus/uk/podcasts-uk/success-with-employee-ownership-trust-eot-chris-maslin-reveals-all/

If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.

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