In this podcast episode, Kevin Long interviews Sheryl Bayani-Alzona and Nataki Gregory about their experience working with CT3, a new ESOP company. They discuss the challenges and successes of the ESOP transaction and how they were able to build a strong relationship through regular meetings. Nataki explains that they use teaching tools to educate their own team about ESOPs and the transition to full ownership.
Kevin:
Speaking of benefits, this is Kevin Long. We’re here at the 2024 NCEO National Conference and I’m pleased to be able to bring into the discussion Sheryl Bayani-Alzona, one of our shareholders located in our Los Angeles office and Nataki Gregory from CT3. Sheryl, you had a great experience working with CT3 and putting together this panel. Why don’t you give us the background of working with them.
Sheryl:
CT3 is a really, a brand new ESOP, a baby ESOP. They’re in it for about two years. The transaction was actually very simple, but also long, I think, from their perspective. In fact, one of our slides today actually said transaction fatigue. As I said in the presentation, because we were meeting every week, we got to know each other and like each other. When Nataki put together the panel, she invited me to present with her. I’m really happy that they are first time attendees at NCEO.
Kevin:
With all of that hard work and the time it took, you were working with a great client that ultimately became a great ESOP. That leads me to the topic of your presentation, “Why Can’t Educators Be Good Owners,” which is interesting given how successful they are. I’m going to ask Nataki to give us the high level thoughts on why their company is actually a great example of a company for doing this and why you’re being so successful with the ESOP experience. Why the title of the talk?
Nataki:
The title is “Why Can’t Educators Be Owners?” because we found that we are one of the few, if not the only education company that is an ESOP. You do not find many education companies in this space.
Kevin:
There, quite frankly, are not very many of them. You teach for a living and one of the biggest challenges in the ESOP industry is getting people to understand ESOPs and understand what the ESOP means in their company. Why don’t you tell us exactly how do you do that?
Nataki:
That’s what we shared today. We shared the way that we use the tools that we use with the schools that we partner with. We use those tools with our own team, so we can teach them about what an ESOP is. Now we’re ready to start teaching them about what our ESOP is now transitioned into, almost full ownership. We’re focusing on what is it that we do every day that we could be doing ourselves, with ourselves, by ourselves.
Kevin:
You are the masters of teaching because you teach teachers. You’re masters of communication. What is really important is that we get one big takeaway from this podcast, so everyone understands what the real value of the message is. What is your secret sauce for getting all of this communication to work within your organization?
Nataki:
We always talk about saying whatever the learning is, we say it 17 times and we say it 17 ways. We are trying to reach the needs of every type of learner and ensuring that people hear the same message over and over and over again because we know that repetition sticks.
Kevin:
Your recommendation for the ESOP world out there is the magic number 17.
Nataki:
17 is the magic number. 17 times and 17 ways.
Kevin:
Thanks so much, Sheryl and Nataki, for joining us.
