Rethinking Succession in the Middle Market: The ESOP Journey of Drake Cooper

What happens when a company decides its next chapter should belong to its employees? In this episode, Doug Farren sits down with John Drake, president at advertising agency Drake Cooper, to explore the agency’s transition to a 100% employee-owned ESOP. They discuss continuity, talent attraction, employee engagement, and why employee ownership can create stronger alignment between culture, performance, and long-term growth. To learn more about Drake Cooper, visit their website:  https://drakecooper.com To read NCMM's case study on Drake Cooper's ESOP journey, visit:  https://www.middlemarketcenter.org/ca... 00:00 Introduction to 'The Market That Moves America' 00:26 What are the key issues of relevance for the middle market that will be discussed in the episode? 00:53 Can you start by just sharing a little bit about Drake Cooper and then your own journey and kind of tell us a little bit about that story? 01:46 Drake Cooper's Creative Commerce Focus 02:54 Ownership Changes and ESOP Transition 06:16 Who was involved in the evaluation and decision-making process for choosing the ESOP approach? 09:45 Were there any moments in time where you maybe started to have second thoughts or said, hey, maybe we won't go an ESOP route? 13:39 Employee Reaction to 100% Ownership 15:48 Post-ESOP Growth and Talent Attraction 19:28 Client Perception of Employee Ownership 21:21 What advice would you give to middle market companies considering leadership or ownership transition in the next two to three years?