The Principal Financial Group is proud to be a presenting sponsor of the 2013 Inc. 500/5000 Conference. This premier event brings together the fastest growing privately held companies in the United States. This is my tenth year attending the event and as always, I find it truly inspiring. What these entrepreneurs have done, and will do, is simply amazing.
For example, consider Bill. Bill is the CEO of a company that specializes in finding expert witnesses for attorneys and their clients. Bill started the company with his father and focused on recruiting executive talent for their clients (in his own words they were a headhunter).
Bill understood the importance of listening to his clients. A couple of his clients approached him about helping them find expert witnesses. After all, they asked him if it was really that different than finding an executive? Most company owners would have politely said “no thank you”, but not Bill. He said “sure, we can help.” As a result of listening and responding to his clients, he took action and developed a new business model – a model that landed the company on the list of the 500 fastest growing private companies in the United States.
Last year, I met Jerome at the Inc. 500/5000 Conference held in Phoenix. Jerome is the CEO of a fast growing consulting company. As his company developed, Jerome started to explore Employee Stock Ownership Plans (ESOPs). Jerome thought that sharing ownership with his employees would lead them to take action.
July 1 of this year, Jerome took action and sold 49.5% of his company to an ESOP. Jerome was joined by one of his ESOP committee members at this year’s conference. After all, the conference recognizes business owners and the ESOP is now part owner of one of the country’s fastest growing companies.
In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Click to follow me on Twitter – @jlripperger.
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