Alternative Exit

Andy
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  • 매주 업데이트

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 #60 | Three Dimensions of Ownership: Purpose, Profit & Power | Mark Hand

    4일 전

    Alternative Exit #60 | Three Dimensions of Ownership: Purpose, Profit & Power | Mark Hand

    What if every business owner played a different game? Mark Hand has spent his career asking that question, first in community development in Latin America, then as an impact investor, and now as a scholar mapping the ownership economy. His weekly newsletter, The Stakehold, tracks everything from ESOPs to worker co-ops to purpose trusts, revealing an ecosystem most people don't realise exists. In this conversation, Mark breaks down the three dimensions of alternative ownership (purpose, profit distribution, and power), explains why 'fat wallets and broken hearts' is the real cost of traditional exits, and challenges us to help business owners surface what actually matters to them beyond maximising financial returns. Key Takeaways: 💡 Three dimensions of ownership transformation — companies are experimenting with purpose (why we exist), profit distribution (who benefits), and power (who decides), and these dimensions can be approached independently or together ✅ Structure makes purpose real — benefit corporations, purpose trusts, and employee ownership lock in commitments that signal to stakeholders this isn't lip service, it's irrevocable 🌟 As many employee owners as union members — in the US, employee ownership already touches as many workers as labour unions, but most employee owners don't see themselves as part of a movement 🎧 Owners are playing multiple games — business owners aren't just profit-maximisers, they're parents, community members, congregation members with different identities that get triggered by how you approach the conversation 📈 Fat wallets and broken hearts — many owners who sell to private equity leave wealthy but regretful, watching their companies dismantled and their employees laid off 💼 Democracy works in complex systems — if countries can operate democratically without dictators, companies (which are simpler than nations) can too Notable Quotes: "I saw friends of his sell to private equity companies and they left with fat wallets and broken hearts. Humans have wallets and we also have hearts." "Our commitment to shareholder value maximisation has actually blinded us to the ways that humans interact with each other and what is possible." "If you can figure out how to run a country democratically, why wouldn't we be able to do that in a company, which is actually a much simpler structure?" Links & Resources: 🔗 Guest: Mark Hand — https://www.linkedin.com/in/markchand 🔗 The Stakehold (weekly newsletter): https://www.thestakehold.com 🔗 PTON (Purpose Trust Ownership Network): https://trustownership.org/ 🔗 Mark's website: https://markclaytonhand.com/ 📖 Recommended: Rutgers CLEO website (compilation of academic learning on employee ownership) 🔗 Host: Andy Farquharson — https://www.linkedin.com/in/andyfarquharson/ 🔗 a better monday: https://abettermonday.me

    39분
  2. Alternative Exit #59 | The Danish Blueprint: How to Pass Employee Ownership Laws w Andreas Jørgensen

    2월 19일

    Alternative Exit #59 | The Danish Blueprint: How to Pass Employee Ownership Laws w Andreas Jørgensen

    On 1st January 2026, Denmark made history. For the first time, the country passed dedicated legislation creating a vehicle for employee ownership — the EOC, or Employee Ownership Company. This is the story of how it happened. Andreas Pinstrup Jørgensen spent seven years cold-calling politicians, uniting seven parties across the political divide, building coalitions with unions and universities, and publishing a book that sparked a national conversation. What started as a bottom-up grassroots initiative became landmark legislation. In this episode, Andreas walks through the blueprint for making employee ownership law — and what Denmark does next to make the revolution real. Key Takeaways: 🌟 Denmark's EOC law creates a level playing field for the first time — previously it was always easier to sell to family or an external buyer than to employees ✅ Cross-party unity was the secret weapon — seven parties from across the political divide agreed because employee ownership solved four shared problems: succession, productivity, worker welfare, and community resilience 💡 Three implementation lessons from the UK — create early champions, build the advisor ecosystem, and rigorously document everything so the law can be refined 🎧 Lower barriers accelerate uptake — Denmark only requires a 33% minimum sale to employees (vs 50% in the UK's EOT), making it easier for cautious owners to take the first step 📈 Capital infrastructure is next — five financial institutions are already in discussions on loan guarantees and strategic employee ownership lending 🔗 The employees are genuinely in control — unlike some models, Denmark's EOC gives employees 100% ownership of the holding vehicle and seats on the board Notable Quotes: "I have never been in a room where we could agree so much across the radical left and radical right. I've not seen anything like it since the climate movement in Denmark." "You have an opportunity to make history. This is a way to preserve your legacy — by turning your company over to the employees. That will make your company more stable in the future." "We are in great debt to the UK, the EOA, Graham Nuttall, Campbell. We've got all these people that have helped us — and that's the only reason I have quite a bit of optimism that this might create, within a few years, an ownership revolution." Links & Resources: 🔗 Guest: Andreas Pinstrup Jørgensen — https://www.linkedin.com/in/andreas-pinstrup-j%C3%B8rgensen-021ba3a8/ 🔗 Think Tank for Democratic Businesses: https://demokratiskerhverv.dk/ 📖 Book: Medejer (Co-Ownership — the art of overtaking competitors through democratic ownership), 2020 📖 Recommended reading: Making One Dragon (White & White) | The Citizen's Share (Blasi, Freeman & Kruse, 2013) 🔗 Host: Andy Farquharson — https://www.linkedin.com/in/andyfarquharson/ 🔗 a better monday: https://abettermonday.me

    31분
  3. Alternative Exit #58 | A 40M Owner Vision Through Employee Ownership& EtA | Michael Morosi

    2월 5일

    Alternative Exit #58 | A 40M Owner Vision Through Employee Ownership& EtA | Michael Morosi

    What if the most powerful way to create employee owners wasn't one company at a time - but through strategic acquisitions? Michael Morosi is proving that existing employee-owned companies can become acquisition engines that transform entire industries. As Co-Founder of 40 Million Owners and Managing Partner at Southeast Acquisition Capital, he's pioneered a model where ESOPs use M&A to grow, create value, and expand employee ownership at scale. About the episode: This conversation dives deep into the mechanics and mindset of ESOP acquisitions. Michael shares his journey from managing $100M in equity funds in Madrid to building Southeast Acquisition Capital from zero to $25M in revenue through strategic ESOP acquisitions. We explore why ESOPs have structural advantages as acquirers, how to build culture across a portfolio of employee-owned companies, and why the upcoming wave of Baby Boomer exits could create 40 million new employee owners. Whether you're running an ESOP considering growth through acquisition or a business owner exploring succession options, this episode reveals a playbook for building sustainable, employee-owned enterprises. Guest Information: 🔗 Michael Morosi - Co-Founder, 40 Million Owners & Managing Partner, Southeast Acquisition Capital LinkedIn: https://www.linkedin.com/in/michael-morosi/ 🔗 40 Million Owners: https://40millionowners.com 🔗 Southeast Acquisition Capital: https://www.southeastacquisition.com Chapters/Timestamps: 00:00 - Introduction to Michael Morosi 04:32 - From Global Equity Management to Employee Ownership 12:15 - The Birth of 40 Million Owners 18:45 - Why ESOPs Make Excellent Acquirers 27:30 - Southeast Acquisition Capital's Model 35:20 - From Zero to $25M in Revenue Through Acquisitions 42:15 - The Mechanics of ESOP M&A 51:00 - Building Culture Across Multiple Companies 58:30 - The 3LS Acquisition Story 01:04:20 - Vision for 40 Million Employee Owners About The Alternative Exit: A podcast exploring employee ownership as a succession planning strategy, hosted by Andy Farquharson of a better monday. 🔗 Host: Andy Farquharson - https://www.linkedin.com/in/andyfarquharson/ 🔗 Learn more: https://abettermonday.me Links & Resources: 40 Million Owners website: https://40millionowners.comSoutheast Acquisition Capital: https://www.southeastacquisition.comMichael's article "The Force Multiplier": https://40millionowners.com/2025/03/12/the-force-multiplier/ #EmployeeOwnership #ESOP #MergersAndAcquisitions #SuccessionPlanning #ImpactInvesting #PrivateEquity #BusinessGrowth #EmployeeOwned #CorporateDevelopment #AlternativeExit

    51분
  4. Alternative Exit #57 | Closing the $10 Trillion Wealth Gap with Employee Ownership with Noelle Lentz

    1월 29일

    Alternative Exit #57 | Closing the $10 Trillion Wealth Gap with Employee Ownership with Noelle Lentz

    Episode Summary: What if the solution to America's wealth inequality crisis was hiding in plain sight? Noelle Lentz is mobilising millions in capital specifically designed for employee ownership transitions. As CEO of Allivate Impact Capital, she's launched one of only two ESOP-focused funds in the US, providing the subordinated debt that makes employee ownership financially viable for selling owners. With over 50% of business owners aged 55+, Noelle explains why employee ownership isn't just good for workers it's the smartest succession strategy for preserving legacy, stabilising supply chains, and creating economic equity at scale. Chapters: 00:00 - Introduction01:42 - From International Development to Community Finance04:54 - Founding Allivate Impact Capital08:56 - The Silver Tsunami and Employee Ownership12:45 - How the Elevate Employee Ownership Fund Works18:30 - Target Companies and Investment Criteria22:15 - The Capital Gap in ESOP Transitions27:09 - Scaling from $10M to $150M Through SBIC Licensing30:08 - Finding Deal Flow and Partnerships31:04 - Quick Fire Round Key Takeaways: ✅ Over 50% of US business owners are 55+ and facing succession decisions in the next decade💡 Employee-owned companies show higher productivity, retention, and morale than traditional structures🎯 Most ESOP transitions require 70-80% seller financing because banks won't subordinate debt💰 Allivate provides $1-2M in subordinated debt (15% of deal value) to make transitions financially viable📈 The fund is targeting $150M through SBIC licensing to create thousands of employee owners🌟 Employee ownership receives rare bipartisan political support due to economic stabilisation benefits Notable Quotes: "This is not just a payday, this is your legacy. And if there's a way to preserve that legacy, empower your employees, and still get the financial return you've worked so hard for, it's really worth considering." "When you're not just coming to work to check your time card and clock out, you're really thinking like an owner and contributing to not just the company's bottom line, but your own bottom line." Links & Resources: 🔗 Noelle Lentz on LinkedIn: https://www.linkedin.com/in/noellestclair🔗 Allivate Impact Capital: https://allivate.com

    33분
  5. Alternative Exit #56 | The Intersection of ETA and Employee Ownership w Geoffrey Easterling

    1월 13일

    Alternative Exit #56 | The Intersection of ETA and Employee Ownership w Geoffrey Easterling

    Keywords Employee Ownership, ETA, ESOP, Acquisition, Leadership, Business Strategy, Employee Engagement, Company Culture, Value Creation, Business Transition Summary In this episode of the Alternative Exit, host Andy Farquharson interviews Jeff Easterling, CEO of ART and Associates, who shares his unique perspective on employee ownership through the lens of entrepreneurship through acquisition (ETA). Jeff discusses the moral imperative behind his leadership style, the challenges and strategies involved in transitioning to an employee-owned company, and the cultural shifts necessary for success. He emphasizes the importance of collaboration, transparency, and the long-term benefits of employee ownership for both employees and business owners. The conversation also touches on the barriers to employee ownership in the ETA space and offers advice for business owners and ETA searchers considering this path. Takeaways Geoff Easterling emphasizes the moral imperative behind employee ownership.The transition to employee ownership requires cultural shifts within the company.Collaboration and transparency are key to successful leadership in employee-owned businesses.Employee ownership can create a legacy that benefits both employees and owners.The acquisition process can be structured to minimize personal risk for the buyer.Long-term strategies are more beneficial than short-term profit maximization.There are significant barriers to understanding and implementing ESOPs in the ETA space.Business owners should consider employee ownership as part of their exit strategy.ETA searchers can find creative financing options through ESOP funds.Building a strong network is crucial for success in the acquisition process. Chapters 00:00 Introduction to Employee Ownership and ETA 02:48 The Unique Perspective of Employee Ownership 05:48 Navigating the Acquisition Process 08:51 Moral Imperative in Business Leadership 12:12 Cultural Shifts in Employee-Owned Companies 14:47 Value Creation Strategies Post-Acquisition 17:50 Challenges of Transitioning to Employee Ownership 20:58 The Knowledge Gap in Employee Ownership 24:03 Advice for Business Owners and ETA Searchers

    32분
  6. Alternative Exit #53 | Live from the EOA, Employee ownership, inequality, and Denmark’s quiet revolution

    1월 13일

    Alternative Exit #53 | Live from the EOA, Employee ownership, inequality, and Denmark’s quiet revolution

    In this live episode from the EOA Conference in Telford, Andy sits down withIn this live episode from the Employee Ownership Association Conference in Telford, with Andreas Jørgensen, one of the architects behind Denmark’s renewed push for democratic ownership. Andreas shares how a cold winter classroom at Yale, a pregnant French professor, and exposure to extreme inequality in the US set him on a path to dedicate his career to employee ownership and cooperatives. That journey ultimately led to the creation of Denmark’s first national think tank focused on democratic business models. The conversation covers why Scandinavia forgot its own cooperative roots, how Denmark quietly rebuilt the infrastructure for democratic ownership, and why new legislation coming into force marks a genuine inflection point for employee ownership across Europe. Key themes discussed Why employee ownership barely featured in Danish academic or policy circles for 30 yearsHow exposure to US-style inequality changed Andreas’ worldviewPre-distribution vs redistribution and why ownership matters more than tax after the factThe scale of cooperatives in Denmark and why most employees don’t feel like ownersThe limits of “EO light” models in consumer cooperativesBuilding a movement and a knowledge base at the same timeDenmark’s new Employee Ownership Company model and how it compares to the UK EOTIndivisible reserves, long-term stewardship, and preventing extractive behaviourWhy democratic ownership is politically acceptable across party linesWhat other countries can learn from Denmark’s approachWhy this matters Denmark went from almost zero employee-owned transitions to passing national legislation in under a decade. Not because of ideology, but because ownership structures solve real economic problems: succession, inequality, engagement, and long-term resilience. This episode is a reminder that employee ownership doesn’t need reinvention. It needs infrastructure, patience, and people stubborn enough to stick with it. Links Andreas Jørgensen and his work: https://demokratiskerhverv.dk/Learn more about employee ownership at abettermonday.meSponsor: This episode is brought to you by EOT Expert by Christian Wilson – providing technical expertise and compliance support for EOT transitions and ongoing governance.  Learn more at eotexpert.co.uk

    23분
  7. Alternative Exit #52 | Live from the EOA, Measuring What Matters - Jonathan Winchester on Customer and Employee Experience

    2025. 12. 23.

    Alternative Exit #52 | Live from the EOA, Measuring What Matters - Jonathan Winchester on Customer and Employee Experience

    Episode: Measuring What Matters - Jonathan Winchester on Customer and Employee Experience In this live episode from the EOA Conference in Telford, Andy sits down with Jonathan Winchester, CEO of Insight6, a customer experience specialist who keynoted at last year's conference with a memorable twist: he mystery shopped the audience. Key Takeaways: Jonathan brings a unique outside perspective to employee ownership. Insight6 helps businesses transform customer experience through six methods: mystery shopping, inquiry handling, employee and client listening platforms, online feedback analysis, focus groups, customer journey mapping, and mentoring/coaching/training. The conversation reveals a critical gap in how most organisations listen to their teams. Annual surveys with 30-40 questions that 50% of staff fill out begrudgingly, followed by months of board review and often no action. Jonathan shares the story of an optician where deep listening revealed the problem wasn't massive - it was the tea room. Old sofa, broken coffee machine, no milk. Basic stuff. But the CEO ripped it out over a weekend and satisfaction went up. The key insight: CX is all about making people feel special through human connection. And that requires asking the right questions at the right cadence. Not annual surveys - regular net promoter scores every two months. Not questions written by "Mary" who doesn't understand what you're trying to achieve. And critically, taking visible action so people feel listened to. Memorable Moments: "You bugger" - how attendees greeted Jonathan after last year's mystery shopping exerciseEO businesses handle inquiries three times better than accountants (and twice as good as most sectors)The tea room transformation story and why deep listening matters"If you were me, what would you do?" - the simple question that unlocks real feedbackWhy asking the wrong questions is worse than not asking at all"No knobs" - the rule of business Jonathan loved hearing at the conferenceGuest: Jonathan Winchester, CEO at Insight6 LinkedIn: https://www.linkedin.com/in/jonathanwinchester/overlay/photo/Company: https://www.insight6.comEmail: jonathan@insight6.comSponsor: This episode is brought to you by EOT Expert by Christian Wilson – providing technical expertise and compliance support for EOT transitions and ongoing governance. Learn more at eotexpert.co.uk

    23분
  8. Alternative Exit #51 | Live from the EOA, The Power of People - Andrew Lane on Building Real Employee Ownership at Union Industries

    2025. 12. 18.

    Alternative Exit #51 | Live from the EOA, The Power of People - Andrew Lane on Building Real Employee Ownership at Union Industries

    Episode: The Power of People - Andrew Lane on Building Real Employee Ownership at Union Industries In this high-energy live episode from the EOA Conference in Telford, Andy sits down with Andrew Lane, Managing Director of Union Industries, a Yorkshire-based manufacturer of high-speed industrial doors. If you've bought food from a supermarket, it's been through one of their doors somewhere in its life. Key Takeaways: Andrew brings a unique perspective: he led a failed employee ownership transition in 2008, learned from every mistake, and then joined Union Industries in 2014 specifically to spearhead their transition into employee ownership. His biggest lesson? Start from the right place. If an owner's primary motivation is "tax-free money," it's probably not the right decision. Union Industries' former owners wanted their money over 14 years. The owner was 78. That's when Andrew knew they were in it for the right reasons. The business paid them off years early "because they'd done a benevolent transaction that empowered their employees." The conversation dives deep into Union's distinctive approach: equal bonuses regardless of tenure or salary ("You can't be in it together, but I get more money than you do"), weekly financial updates with numbers-graphs-traffic lights for every learning style, and a managing director who walks the floor weekly to keep ownership real for every fabricator and welder. Memorable Moments: The forklift truck driver who's been the biggest bonus recipient for five years straightWhy Andrew spent his energy on the 20% who didn't care (spoiler: you can't convert them)The service division employee who created a marketing campaign that sold £30,000 in three weeks"Don't come with a problem that doesn't have a matching solution"Why the business took a step change when the detail-grinding bottleneck was removedAndrew's closing challenge: "Tell me the reason not to"Guest: Andrew Lane, Managing Director at Union Industries LinkedIn: https://www.linkedin.com/in/andrew-lane-1b2b9815/Company: https://www.unionindustries.co.uk/Sponsor: This episode is brought to you by EOT Expert by Christian Wilson – providing technical expertise and compliance support for EOT transitions and ongoing governance. Learn more at eotexpert.co.uk

    20분
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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.

정보

  • 제작진
    Andy
  • 방송 연도
    2024년 - 2026년
  • 에피소드
    61
  • 등급
    전체 연령 사용가
  • 저작권
    © 2026 Andy
  • 웹사이트 보기
    Alternative Exit