Zoe Schlag’s Post

The team at Clegg Auto is really rewriting what small business ownership can look like by empowering employees as owners, and the results are paying off. "The last fiscal year before the company switched to an employee ownership model, they were able to share $40,000 in profits with employees. After the first fiscal year under the new model, that number ballooned tenfold, to $400,000." I learn something new about managing businesses from Kevin Clegg every time we talk, and I feel lucky that we got to be a small piece of this journey through Common Trust. https://lnkd.in/gVySiJYA

I could probably spend the rest of this week bragging about Sandra Raafat, so I'm glad to see her getting some well deserved recognition at global conferences for her work on employee ownership.

Love hearing the perspectives of the new employee owners of @Ocaquatics Swim School on what employee ownership means for them and the company! Miren Oca

A few months ago we brought together a group of operators from employee owned businesses and I had the pleasure of meeting Joe Nussbaum, the founder of ACP International. ACP might fly under the radar, but you probably run into their product everyday – they’re behind the manufacturing of many of the street signs you see at traffic stops and telephone poles. When asked to reflect on why he chose an employee ownership trust, Joe’s response had the whole room laughing: “You might make more money selling a different way, but you’ll be left with a fat wallet and a broken heart." Joe will be sharing his story on June 25th alongside two other business operators who’ve chosen the employee ownership pathway. If you’re a business owner who’s thinking about your exit – whether it’s this year or in 3 years – join us to hear from Joe firsthand on the different considerations that went into his decision and how it’s working. Hosted by Derek Razo my Co-Founder and Managing Partner at Common Trust 📍 RSVP here: https://lnkd.in/gemNi5jy

One of the things we often hear from business owners who are considering employee ownership is they want to hear from someone who’s already been down that path, so I’m excited to share that Rick Plympton, CEO of Optimax Systems, Inc., will be joining our webinar panel on Employee Ownership For Manufacturing & Industrial Businesses. Optimax, the largest Employee Ownership Trust (EOT) in the US, manufactures high-precision optics used in space exploration, medical devices, and consumer electronics. On top of that, they project being able to share $2.5 billion with employees over the next 30 years. Rick’s decision to transition to an EOT showcases how high-quality jobs can thrive right here in the US, and even outside of the major metropolitan areas. If you’re curious about employee ownership, succession planning, or just want to hear from a leader who truly cares about his team, join us on June 25th to hear from Rick as well as three other business leaders including Derek Razo of Common Trust. https://lnkd.in/gemNi5jy #exitstrategy #employeeownership #RochesterNY #innovation

A year ago, Derek Razo and I began digging into what it will take to scale shared ownership. We're proud to announce that in partnership with Purpose and with support of One Project we are about to release a book showcasing our findings. The quick version? There is a groundswell of models already underway that lay the foundation for a new strategy for transforming the U.S. economy through shared ownership and stewardship, and it's gaining momentum. Join my cofounder Derek Razo alongside Chelsea Robinson Charity May Jay Standish for a webinar tomorrow at 1pm PT to learn more about what we learned. RSVP here to get the zoom link: https://lnkd.in/dz4JJy5a

Back in March I heard Rick Plympton say this at an event we hosted, and it's stuck with me ever since, because outcomes like these don't have to be the exception, they can simply be the way we do business: "In 2021, Optimax Systems, Inc. celebrated 30 years in business and we generated $500M in revenue in the first 30 years. Roughly half of that has been shared with our workforce through salaries, benefits and bonuses. That's $250M spent in the community at grocery stores, auto dealerships, some of it saved for retirement. In the next 30 years with conservative growth, Optimax will generate over $5B in revenue and roughly half of that will be shared with our workforce. That's $2.5B providing financial security for employees and their families and economic stability for the community." Here's a clip of Rick sharing more about his journey and what makes a good job giving the commencement speech at Finger Lakes Community College https://lnkd.in/g7ftabKb

EOTs are coming to Canada and Jon Shell from Social Capital Partners wrote a great explainer on what this means for Canadian business owners. Check it out: https://lnkd.in/gV-dU8TR

Social Capital Partners is one of the leading groups working on employee ownership in Canada, and their entire team is the rare combo of super smart and a ton of fun. Great role for a communications person looking to work on one of the most important economic solutions out there!