Alternative Exit

Andy
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Alternative Exit is a dedicated to educating small business owners about the possibilities, benefits, and challenges of transitioning to an employee ownership model. There are over 200m SMEs with an owner who will be retiring in the next 10 years, many of which will never find a buyer for their business, forcing them to close their doors.  There is an alternative. This show will explore various the different forms of employee ownership and best practices for successful transitions. Each episode features interviews with experts in employee ownership, business owners who have made the transition, and consultants who facilitate these changes.

  1. Alternative Exit #42 | Eric Strickland on Employee Ownership & Innovation

    18시간 전

    Alternative Exit #42 | Eric Strickland on Employee Ownership & Innovation

    What happens when you combine employee ownership with human services? In this episode, I sit down with Eric Strickland, CEO of Three Ls—a purpose-driven group of 18 employee-owned companies with nearly 700 employee owners across five states. Eric shares his 20-year journey from CFO to CEO, including the rare "ESOP-to-ESOP" transaction that launched Three Ls and his innovative approach to building employee wealth through vertical integration. We explore how Eric thinks about employee ownership as an asset allocation problem, why culture requires intentional investment, and how to drive innovation in purpose-driven organizations. From quarterly town halls to investing in early-stage healthcare tech, Eric reveals what it takes to make employee ownership work in mission-focused businesses where workers care more about impact than retirement accounts. Timestamps: 00:00 Introduction and Eric's Background 03:00 The First ESOP and Why It Closed to New Participants 07:00 The Rare ESOP-to-ESOP Leveraged Buyout 12:00 Three Ls and the Vertical Integration Strategy 20:00 Investing in Culture and Building Trust 30:00 Driving Innovation Through Frontline Creativity 36:00 Innovation as Asset Allocation 39:00 Common Myths About ESOPs 45:00 Quickfire Questions and Final Advice Key Takeaways: Why OmniVisions needed a second ESOP after the first closed to new participantsHow to think about employee ownership as a retirement asset allocation problemThe vertical integration playbook: turning operating expenses into employee-owned businessesWhy quarterly town halls with open Q&A build the trust necessary for strong EO cultureThe biggest ESOP myths: complexity and cost compared to traditional exitsWhy it takes 24+ months for young workers to see meaningful value in their ESOP accountsAbout Eric Strickland: Eric Strickland is the CEO of 3Ls, a purpose-driven organization of 18 employee-owned companies serving human and health services across five states. With a 20-year tenure that began as CFO of OmniVisions in 2005, Eric has become a leading voice in the employee ownership movement, bringing a systems-minded, numbers-focused approach to social entrepreneurship. Connect with Eric Strickland: LinkedIn:https://linkedin.com/in/eric-strickland-3ls/ Website: https://3ls.com  Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    50분
  2. Alternative Exit #41 | Redefining Succession: Embracing Employee Ownership with David Owen

    10월 30일

    Alternative Exit #41 | Redefining Succession: Embracing Employee Ownership with David Owen

    In this episode of Alternative Exit, Andy Farquharson sits down with legal industry veteran David Owen (formerly CEO of Oliver & Co Solicitors) to unpack the real-world exit journeys from law practice, the shift to employee ownership, and why the toughest deals often happen internally. We dive into leadership, succession strategy, emotional and financial components of exiting a professional services business, and how to position yourself well ahead of the sell or transition day. David shares his path from rising partner to CEO of Oliver & Co, his decision-making as the firm moved to 100% employee ownership, the deal structure (and mindset) behind the transition, and how he navigated the emotional side of stepping away. We explore: How do you know when it’s time to exit? How do you craft an exit that preserves culture? How much is “enough”? And, maybe most importantly, how do you prepare your successor (or successor culture) so the business survives — and thrives — after you depart? Timestamps: 00:00 Introduction: Why Podcast Sustainability Matters 03:15 Environmental Impact - Digital Carbon Footprint  08:45 Green Hosting and Production Practices  12:30 Social Sustainability - Diversity and Inclusion Goals  18:20 Making Content Accessible to All  22:40 Economic Sustainability - Revenue Diversification  27:15 Team Wellbeing and Fair Compensation  31:50 Content Strategy for Long-term Impact  36:25 Measurement, Metrics, and Accountability  41:10 Quick Wins You Can Implement Today Key Takeaways: Exiting a professional-services business is not just about money — culture, client continuity and legacy matter significantly.Start planning the exit years before you actually want to depart: mindset, systems, leadership, client relationships.Converting to an employee ownership model (like Oliver & Co did) can align incentives and preserve continuity for clients and staff.Value creation happens in the business long before a board says “we’re ready to exit” — leadership matters.The emotional aspect of “letting go” is often underestimated — even when financials are strong.After exit, staying involved in a non-executive/trustee role can help with transition and personal identity. David Owens David Owens is the former CEO of Oliver & Co Solicitors, a firm based in Chester, UK. Under his leadership, the firm became 100% employee-owned and has consistently championed a high-performance but client-first culture. His expertise spans professional-services leadership, exit strategy, succession planning and governance in owner-led firms. Oliver & Co Solicitors is a full‐service law firm based in the North-West of England. It provides services in personal and business law, including conveyancing, wills & probate, family law, commercial property and more. The firm emphasises “we are accountable to our clients and to each other” as part of its employee-ownership culture. Connect with David Owen: LinkedIn - https://www.linkedin.com/in/david-owen-eot/ Website - https://www.oliverandco.co.uk/  Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    41분
  3. Alternative Exit #40 |The Data Behind Employee Owned Success with Rutgers' Adria Scharf

    10월 23일

    Alternative Exit #40 |The Data Behind Employee Owned Success with Rutgers' Adria Scharf

    What drives a founder to sell their company to employees instead of outside investors? In this episode, I sit down with Dr. Adria Scharf, Project Director of the Curriculum Library for Employee Ownership (CLEO) at Rutgers University, to explore her groundbreaking research on what motivates business owners to choose employee ownership as their exit path. Adria shares insights from her ongoing study of ESOP sellers, unpacks the emotional and economic logic behind these decisions, and reflects on why ownership transitions are never just financial—they’re deeply human. We dive into the emerging evidence shaping the future of employee ownership in the U.S., from macroeconomic trends to personal stories of founders who prioritise legacy over liquidation. Adria discusses why awareness and education remain the biggest barriers to broader adoption, and how a high-trust culture can make or break a successful transition. Packed with data, heart, and hope, this episode offers a rare window into the psychology of selling—and the possibility of exits that build both wealth and community. Timestamps: 00:00 Introduction and Guest Overview  01:13 Exploring the Rutgers Institute’s Research Legacy  04:17 The Rising Awareness of Employee Ownership in the U.S.  08:20 What Motivates Founders to Choose Employee Ownership  11:55 The “Benevolence” Factor and Cultural Transitions  15:17 How Awareness and Advisor Education Affect Adoption  17:33 The Synergy Between High-Trust Culture and Employee Ownership  23:28 The True Cost—and Payoff—of Investing in Culture  28:34 ESOPs and the Wealth-Building Impact for Workers  32:20 Barriers to Scaling Employee Ownership  34:12 Fast Round: Leaders, Resources, and Final Words of Advice Key Takeaways: Why wealth inequality and wage stagnation are driving renewed interest in employee ownershipThe mixed motivations of sellers—balancing liquidity, values, and workforce legacyHow some owners find ESOPs a financially rational exit, not just a benevolent oneThe hidden effort required to build high-trust, high-performance cultures post-transitionWhy awareness and advisor education are the biggest barriers to EO adoptionThe proven wealth impact of ESOPs: average $165,000 per employee in retirement valueWhy ESOP regulation makes it a uniquely inclusive and equitable ownership modelAdria’s call for simpler, off-the-shelf EO models to reach smaller businesses About Dr. Adria Scharf: Dr. Adria Scharf is the Project Director of the Curriculum Library for Employee Ownership (CLEO) at Rutgers University, the world’s largest university-based institute dedicated to advancing research and education on shared capitalism. Her work explores how employee ownership influences job quality, economic security, and business succession. A respected researcher and advocate, Adria has co-authored multiple reports and is shaping the academic foundation for the next generation of equitable business models. Connect with Dr. Adria Scharf: Website: https://cleo.rutgers.edu  LinkedIn: https://www.linkedin.com/in/adria-scharf-621b442/ Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/  Instagram - https://instagram.com/andyfarq  Website - https://abettermonday.me/

    39분
  4. Alternative Exit #39 | The Power of EOTs: Creating 3,500 Employee Owners with Christian Wilson

    10월 2일

    Alternative Exit #39 | The Power of EOTs: Creating 3,500 Employee Owners with Christian Wilson

    What does it really take to transition a business to employee ownership—and what happens after you sign on the dotted line? In this episode, I sit down with Christian Wilson, a specialist solicitor with over 25 years of experience in business law and employee ownership. Christian has helped more than 62 companies transition to Employee Ownership Trusts (EOTs), creating 3,500 employee owners across businesses valued at over £450 million. He shares the legal, emotional, and practical realities of making employee ownership work. Timestamps: 00:01:12 Christian's Journey into Employee Ownership Law  00:04:36 What Makes a Company Right for an EOT  00:08:12 The Three Parts of an EOT Transition  00:12:29 Valuation, Affordability, and the Retirement Conversation  00:19:13 Life After Completion: The Real Work Begins  00:23:23 Why Open Book Management Matters  00:27:07 Giving Employees a Voice and Influence  00:34:23 Success Stories: Real Examples from EOT Companies  00:38:58 Quickfire Round: Leaders, Resources, and Advice Key Takeaways: Employee ownership transitions involve three journeys: legal structure, personal succession for the owner, and cultural evolution for the teamValuation and affordability are different—the company funds the purchase through future profits over 6-10 years typicallyThe day you complete the EOT is day one of being employee owned, not the finish lineOpen book management unlocks entrepreneurial thinking and helps employees understand business trade-offsEmployee voice must be matched with responsive leadership—ask for feedback, then show how you've considered itWell-structured EOTs include flexibility for market changes and unexpected challengesAbout Christian Wilson: Christian Wilson is a Partner Solicitor at Spencer West LLP, specializing in Employee Ownership Trusts and business succession. With over 25 years of experience, he has guided more than 62 companies through successful transitions to employee ownership, creating 3,500 employee owners with a combined business value exceeding £450 million. Christian is ranked as a Leading Individual in Legal 500 and a Notable Practitioner in Chambers Guide to the Legal Profession. He is also a member of the Employee Ownership Association, an independent trustee for several EOTs, and was previously a non-executive director of the Eden Project. Christian is known for his genuine passion for employee ownership and his ability to make complex legal processes accessible and seamless. Connect with Christian Wilson: Website: https://employee-ownership-trusts.co.uk Spencer West Profile: https://www.spencer-west.com/team/christian-wilson/ LinkedIn: https://www.linkedin.com/in/christian-wilson-a3597017/ Email: christian.wilson@spencer-west.com  Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    43분
  5. Alternative Exit #38 | Karen McGuire's Succession: A Deep Dive Into Employee Ownership in Northern Ireland

    9월 25일

    Alternative Exit #38 | Karen McGuire's Succession: A Deep Dive Into Employee Ownership in Northern Ireland

    What happens when personal loss becomes the catalyst for transformative business change?  In this episode, I sit down with Karen McGuire, founder of Relinea, a successful GRP manufacturing company in Northern Ireland that transitioned to employee ownership in 2022. Karen shares her deeply personal journey from building a business over 17 years to making the brave decision to hand it over to her employees after her father's death changed everything. Her story reveals how employee ownership became not just an exit strategy, but a powerful way to preserve culture, protect jobs, and strengthen communities. We explore the remarkable transformation that followed her transition - from initial employee confusion to unprecedented productivity gains, from suggestion boxes full of requests for four-day work weeks to business cases for trolleys that improve efficiency. Karen unpacks the practical realities of implementing Employee Ownership Trusts, the cultural shifts that drive real results, and why she's now leading Employee Ownership Ireland's mission to create 10,000 employee-owners by 2029. This conversation is packed with honest insights for any founder considering alternative exits and reveals why employee ownership is becoming the succession strategy of choice in Northern Ireland. Timestamps:  02:25 Building Relinea and Personal Circumstances That Changed Everything  06:11 Discovering Employee Ownership and Making the Decision  07:43 Telling Employees About the Transition - Reality vs. Expectations  09:13 The Importance of Management Structure in Employee Ownership  11:38 Three Years Later - Performance and Culture Transformation  21:21 Education and Communication Strategies for Employee Ownership  39:15 Employee Ownership Ireland - Building the Movement  43:47 The Future of Employee Ownership in Northern Ireland  47:42 Quick Fire Questions Key Takeaways: How personal loss can redirect business priorities and reveal what truly matters beyond profitWhy M&A meetings left Karen feeling "dirty" while employee ownership aligned with her valuesThe reality gap between owner excitement and initial employee confusion about ownership transitionThe role of succession planning pressures in driving interest in alternative exit strategiesWhy Employee Ownership Ireland aims to prevent any business sale without EO being "on the table"About Karen McGuire: Karen McGuire is the founder of Relinea, a specialist manufacturer of GRP (Glass Reinforced Plastic) structural products based in Crumlin, Northern Ireland. She built the company from 2005 into one of the leading suppliers across the UK and Ireland before transitioning it to 100% employee ownership in 2022. Karen now serves as Chair of Employee Ownership Ireland, a business alliance working to create 10,000 employee-owners in Northern Ireland by 2029. She's recognized for her advocacy of employee ownership as a succession model that preserves business culture and strengthens local communities. Connect with Karen McGuire: Website: https://www.relinea.com LinkedIn: https://www.linkedin.com/in/karen-maguire-581b9698/ Employee Ownership Ireland: https://employeeownershipireland.com  Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    53분
  6. Alternative Exit #37 | Redesigning Capitalism : How Share Tribe Built A Purpose-First Company

    9월 18일

    Alternative Exit #37 | Redesigning Capitalism : How Share Tribe Built A Purpose-First Company

    What happens when a tech startup realizes that traditional venture capital doesn't align with its mission to democratize platform ownership? In this episode, I sit down with Juho Makkonen, co-founder and CEO of Sharetribe, a Finnish marketplace-building platform that made the bold transition from venture-backed startup to steward-owned company in 2018. Juho shares how a chance encounter at a post-Burning Man event sparked a structural revolution that would preserve Sharetribe's independence and purpose for generations. We explore the practical realities of steward ownership - from negotiating with skeptical investors to creating a governance structure where 19 employees now hold equal voting power. Juho opens up about the unexpected challenges of democratizing decision-making, the financial mechanics of capped returns, and how this alternative ownership model became a competitive advantage in hiring purpose-driven talent. This conversation reveals what it truly means to put mission before profit and the tangible steps any founder can take to protect their company's values in its legal DNA. Timestamps: 00:00 Introduction and Guest Overview  01:50 What is Steward Ownership?  03:16 Sharetribe's Origin Story and Early Mission  10:17 The Accidental Discovery of Steward Ownership  12:50 Difficult Conversations with Venture Investors  16:40 The Purpose That Drives Democratized Platform Ownership  19:22 The Financial Structure: Capped Returns and Share Classes  24:21 Self-Governance and Democratic Decision-Making  31:18 Profit Distribution and Employee Equity  36:05 Taking Employees on the Ownership Journey  38:17 Low Attrition and Cultural Alignment  40:06 Quick Fire Questions Key Takeaways: Steward ownership combines two core principles: purpose over profit and self-governance by people connected to the company's missionThe transition began when Sharetribe realized they couldn't credibly advocate for platform democratization while being venture-backedInvestors were initially resistant but agreed to a buyout structure when shown it wasn't the company's "golden ticket" opportunityThe financial model uses different share classes - voting shares for employees (no economic rights) and investor shares (no voting power, capped 5x returns)The structure serves as a powerful hiring filter, attracting mission-aligned talent while deterring profit-only motivated candidatesEmployee tenure averages 8+ years with minimal voluntary turnover, demonstrating strong cultural alignmentAbout Juho Makkonen: Juho Makkonen is the co-founder and CEO of Sharetribe, a Finnish marketplace platform that enables anyone to build their own online marketplace. Under his leadership, Sharetribe transitioned from a traditional venture-backed startup to a pioneering steward-owned company in 2018. The company is now owned by 22 team members and funded by its customers - over 1,000 marketplace founders from 70+ countries. Juho is passionate about democratizing platform ownership and creating alternatives to extractive business models. Connect with Juho: Website: www.sharetribe.com Blog: www.sharetribe.com/balanced LinkedIn: https://linkedin.com/in/juhomakkonen Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    45분
  7. Alternative Exit #36 | Building Legacy Through Employee Ownership: A Conversation with Robert Postlethwaite

    9월 11일

    Alternative Exit #36 | Building Legacy Through Employee Ownership: A Conversation with Robert Postlethwaite

    What drives a successful corporate lawyer to abandon the mainstream legal world and dedicate their career to democratizing business ownership? In this episode, I sit down with Robert Postlethwaite, partner and managing director of Postlethwaite Solicitors and author of The Employee Ownership Manual. Robert shares his transformation from traditional M&A lawyer to becoming one of the UK's most prominent experts in employee ownership trusts, having guided over 200 companies through the transition to employee ownership. We explore Robert's idealistic twenties decision to seek "a better way of organizing business," his move from Bristol to Leeds to learn from the only other employee ownership specialist in the country, and how environmental concerns shaped his early vision for shared ownership. From the technical challenges of structuring EOTs to the often-overlooked people side of transitions, Robert offers candid insights on what works, what doesn't, and why some businesses simply aren't ready for employee ownership. He also reveals the biggest challenge his own firm faced after becoming employee-owned: leadership succession. Timestamps: 00:00 Introduction and Guest Overview  01:14 Robert's Background and Journey into Employee Ownership  03:52 Early Employee Ownership Models in the UK  05:02 The Decision to Leave Corporate Law  07:01 Building Collaborative Advisor Networks  08:24 Evolution of EOT Adoption from Evangelical to Pragmatic  11:02 The Role of Tax Incentives vs. Cultural Commitment  12:46 200+ Transactions: Common Owner Motivations  14:08 Transitioning Postlethwaite to Employee Ownership  35:59 When Employee Ownership Isn't the Right Fit Key Takeaways: • Robert's journey from corporate lawyer to EO specialist was driven by wanting "a better way of organizing business" and environmental concerns  • The technical legal aspects are often the "easy bit" - the people side of letting go and leadership succession are the real challenges • Democratic decision-making requires intentional culture change and empowering non-lawyer staff in business decisions • Environmental impact was an early idealistic goal, with some positive examples emerging in sectors like architecture • Employee ownership isn't right for businesses with fundamental trust issues between leadership and staff About Robert Postlethwaite: Robert is the founder and managing director of Postlethwaite Solicitors, a 100% employee-owned legal practice specializing in employee ownership and share schemes. A graduate in law from the University of Bristol, Robert was a partner in a national firm of corporate lawyers before founding Postlethwaite in 2003. He has been a Band 1 Ranked Lawyer for fifteen years in his field by the legal rankings guide Chambers and Partners. Robert is the author of The Employee Ownership Manual and has guided over 200 companies through EOT transitions. Connect with Robert Postlethwaite: Website: https://postlethwaiteco.com LinkedIn: https://linkedin.com/in/robertpostlethwaite Book: The Employee Ownership Manual (Second Edition) Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    39분

  8. 9월 4일

    Alternative Exit #35 | From 15 to 340: How Scotland Built a Global EO Powerhouse

    How do you transform an entire country's approach to business succession? In this episode, I sit down with Glen Dott, a specialist advisor in employee ownership at Cooperative Development Scotland, part of Scottish Enterprise. Glen shares the remarkable story of how Scotland went from having just 15 employee-owned businesses to over 340 in less than a decade, making it a global leader in the EO movement. We explore the pivotal role of the Nuttall Review in 2014, the psychology behind why business owners choose employee ownership over traditional exits, and the practical challenges of financing EO deals. From his farming background that sparked his interest in cooperatives to his front-row seat watching Scotland's EO revolution unfold, Glen provides unique insights into what makes successful transitions work and how government support can catalyze grassroots movements. Timestamps: 00:00 Introduction and Guest Overview  01:11 Glen's Journey to Employee Ownership  02:29 Owner Motivations Beyond Money  03:43 From Farming to Scottish Enterprise  05:20 Glen's Role in EO Advisory  07:25 The Dramatic Growth in EO Awareness  09:39 Consistent Lead Flow and Market Maturity  11:04 Tax Benefits Driving Uptake  12:18 Financing EO Deals - The Reality  20:47 What Makes Successful EO Transitions  25:23 Professional Management vs Entrepreneurial Founders  27:42 The Kemco International Success Story  30:33 Entrepreneurial Orientation in EO Businesses  33:19 Scottish Government Goals and Results  35:19 Accelerating EO Growth - Lessons from Northern Ireland  38:07 Quick Fire Questions  41:51 Where to Connect with Glen Key Takeaways: Why most EO-bound owners have motivations beyond money and want businesses to remain local and intactHow Scotland's EO sector exploded from 15 to 340+ businesses, with 60% being Scottish-headquarteredWhy most EO deals are financed through deferred consideration over 5-10 years rather than bank lendingHow strong company culture and democratic decision-making are prerequisites for successful EO transitionsWhy "Freedom Day" (debt payoff) psychology matters for employee motivation during transition periodsHow Northern Ireland's grassroots, privately-funded approach is accelerating EO growth faster than top-down modelsAbout Glen Dott: Glen is a specialist advisor in employee ownership at Cooperative Development Scotland, a unit within Scottish Enterprise. With a farming background that gave him early exposure to cooperative models, Glen has been instrumental in Scotland's remarkable EO growth story. He manages lead flow for potential EO transitions, supports feasibility studies, and has helped develop Scotland into one of the world's leading EO regions through practical support, market building, and policy development. Connect with Glen: LinkedIn: https://linkedin.com/in/glen-dott-512b141a/?originalSubdomain=uk Website: https://scottish-enterprise.com/   Connect with Andy Farquharson: LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - andy@bettermonday.me

    43분
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Alternative Exit is a dedicated to educating small business owners about the possibilities, benefits, and challenges of transitioning to an employee ownership model. There are over 200m SMEs with an owner who will be retiring in the next 10 years, many of which will never find a buyer for their business, forcing them to close their doors.  There is an alternative. This show will explore various the different forms of employee ownership and best practices for successful transitions. Each episode features interviews with experts in employee ownership, business owners who have made the transition, and consultants who facilitate these changes.

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    Andy
  • 방송 연도
    2024년 - 2025년
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    45
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    © 2025 Alternative Exit
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