Ethical Exits

Hosted by Hannah Sandmeyer
  • 0.0(0개의 평가)
  • 기업 운영
  • 매월 업데이트

Welcome to "Ethical Exits," a podcast dedicated to mission-driven entrepreneurs exploring the path of ethical business transactions. In this podcast, we'll delve into the often opaque world of mergers and acquisitions, a landscape filled with secrecy, uncertainty, and complex decisions. We'll share compelling stories from entrepreneurs who have successfully navigated ethical exits and provide insights from active sellers seeking a responsible transition. Join us as we uncover the principles and practices that make these transactions both impactful and integrity-driven.

  1. M&A for the Rest of Us: What No One Ever Told You About Buying a Business

    3월 29일

    M&A for the Rest of Us: What No One Ever Told You About Buying a Business

    What if the biggest opportunity in business is the one nobody ever taught you? In this episode, Hannah sits down with Kari Doherty to unpack the “third path” to entrepreneurship: buying a business instead of starting one. They explore why millions of small businesses are quietly disappearing, what’s behind the massive wave of ownership transitions, and why most founders and buyers never connect. If you’ve ever wondered what actually happens to small businesses, or what your real options are, this episode is for you. Featured Organization In this episode, Kari highlights Xcelerate Women a Portland-based organization supporting women and gender-expansive entrepreneurs through coaching, mentorship, and community-driven business growth. Xcelerate Women focuses on: • Revenue-generating small businesses beyond the idea stage • Women and gender-expansive founders building sustainable companies • Practical, hands-on coaching that goes beyond branding into real operations • Creating a circular economy by reinvesting knowledge, support, and capital locally Their model removes barriers to access by pairing founders with experienced coaches—providing meaningful support at a stage where it’s often hardest to find. The result: stronger businesses, more resilient founders, and more capital staying within the community. To learn more or get involved, visit: 👉 https://www.xceleratewomen.org/

    1시간 11분
  2. Valuation, Risk, and the Truth About Seller Regret

    2월 24일

    Valuation, Risk, and the Truth About Seller Regret

    What does it actually mean to be “ready” to sell your business? In this episode of Ethical Exits, Hannah sits down with Judy Park, CMAA, a certified M&A advisor known for her meticulous attention to detail and deep transactional experience across 50+ successful closings and more than $100 million in deal volume. But this conversation goes beyond spreadsheets. Judy introduces one of the most important framing devices in M&A: Buyers buy futures. Sellers sell history. Founders often value their companies based on sacrifice, identity, and years of effort. Buyers, meanwhile, are underwriting projected cash flows, risk, and uncertainty. That gap, between emotional value and financial underwriting, is where seller regret is born. Together, Hannah and Judy explore: • The most common seller readiness gaps • Why overly polished financials can actually erode trust • How buyers assess risk beyond EBITDA • The role of transparency in strengthening valuation • Why earn-outs, seller notes, and transition periods matter • How ethical deal design creates post-close confidence This episode is a practical guide for founders who want to exit without losing what made their business matter in the first place. Because a good deal doesn’t just close. It lets both sides sleep six months later. To learn more about Judy’s work or connect with her, reach out on LinkedIn: 👉 https://linkedin.com/in/judyhaepark Featured Organization In this episode, Judy highlights Korean Community Services of Metropolitan New York (KCS) — an organization supporting Korean and immigrant communities through economic empowerment, small business support, and access to critical social services. KCS works directly with: • First-generation entrepreneurs • Immigrant-owned small businesses • Women and elderly community members • Families navigating language and structural barriers Their work helps transform businesses built from survival into businesses built for long-term stability and dignity. To learn more or support their work, visit: 👉 https://www.kcsny.org/

    57분
  3. Recovery Hardware: Building & Selling a Business That Heals

    1월 26일

    Recovery Hardware: Building & Selling a Business That Heals

    What does it actually look like to build a business that heals and then sell it without breaking what made it matter? In this episode of Ethical Exits, Hannah sits down with Gina Schaefer, founder and retired CEO of a $50M, 13-location Ace Hardware business based in Washington, DC. Gina didn’t set out to build a movement. She opened a hardware store to pay a mortgage after she was laid off and serve her neighborhood. But a single, practical decision—removing the felony checkbox from job applications—quietly reshaped the culture of the business, the lives of its employees, and the legacy it would leave behind. Years later, the community gave the business a name Gina never would have chosen for herself: Recovery Hardware. This episode explores how culture is built through decisions, not decks—and how selling a business can be a joyful opportunity to amplify what it has already become. To learn more about Gina’s work, hire her as your keynote speaker, or order her book, visit her ⁠website⁠ or connect with her on ⁠LinkedIn⁠. At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and meaningful change. In each episode, we ask guests to highlight a cause close to their heart. For Gina, that cause is ⁠Rasa Legal⁠ — a nonprofit using technology to help people expunge criminal records and remove barriers to employment, housing, and opportunity. Rasa Legal’s work directly extends the values Gina lived inside her business. Creating second chances, restoring dignity, and expanding access to economic participation. 🔗 Learn more or support their work: ⁠https://rasa-legal.com/

    1시간 5분
  4. From Kale to Data Node: What Happened When Amazon Bought Whole Foods

    2025. 12. 22.

    From Kale to Data Node: What Happened When Amazon Bought Whole Foods

    What happens when a mission-driven company becomes infrastructure? In this narrative episode of Ethical Exits, we tell the full story of Whole Foods, from a single community-rooted grocery store in Austin to its $13.7B acquisition by Amazon. This isn’t a story about villains. It’s a story about pressure. We unpack why the sale happened so fast, what changed for workers and vendors after the deal, and what founders should learn when growth, capital, and values collide. Because exits are never neutral. Someone’s values always shape what comes next.

    1시간
  5. The Next Evolution of Employee Ownership: Chris Fredericks and the Diversified ESOP Holding Company Model

    2025. 11. 26.

    The Next Evolution of Employee Ownership: Chris Fredericks and the Diversified ESOP Holding Company Model

    With a career rooted in finance, strategic growth, and the belief that business can be a force for good, Chris Fredericks is redefining what happens after an exit. As founder and CEO of Empowered Ventures, he transformed a traditional specialty materials company into a fully employee owned firm through an ESOP in 2010. Ten years later, he launched the diversified holding company model to scale that ownership across multiple businesses, protect jobs, deepen wealth creation for employees, and keep prosperity local. Chris’ story starts in Indiana, where as CFO of TVF he saw firsthand both the dignity work can bring and the risk of concentrated ownership. He built a model focused on diversification, shared prosperity and long term thinking. In his words, employee ownership is not only a powerful exit strategy, it is a growth engine. It is a strategy where integration begins with a clear commitment to do no harm and where worker empowerment sits at the center of every acquisition. In this episode we dig into how ESOPs work, the trade offs among ESOPs, co-ops and EOTs, and how an empowerment first acquisition strategy can deliver both high performance and high purpose. To learn more about Chris’ work, visit Empowered Ventures or connect with him on LinkedIn. _____________________________________________________________________________________________________________ At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and meaningful change. In each episode, we ask guests to highlight a cause close to their heart. For Chris, that cause is GiveDirectly — a direct-cash charity committed to data-driven cash transfers to people living in poverty; Chris says the most effective impact often comes when you trust people with resources, rather than impose more structure.

    57분
  6. The B Corp Founder as Buyer: When Purpose Shows Up as the Acquirer

    2025. 10. 24.

    The B Corp Founder as Buyer: When Purpose Shows Up as the Acquirer

    What happens when a creative agency founder turns to M&A not as a growth hack, but as a tool for collective impact? In this powerful episode, Hannah and Caitlin sit down with Peter Georgariou, founder and CEO of Karma Dharma, a B Corp–certified creative and strategy agency that’s redefining what it looks like when a mission-driven founder becomes the buyer. Peter isn’t waiting for big capital to rewrite the rules. He’s actively acquiring values-aligned companies to build what he calls a “Deloitte for do-gooders”: a collective of purpose-driven agencies that share back-end resources, preserve culture, and amplify impact. We unpack: - How Peter reframed M&A as a force for good rather than a corporate takeover - His philosophy on transparency, trust, and treating employees like adults - Why B Corps can’t stay small if we want to reshape capitalism - How following the “energy trail” guides his dealmaking process - How culture, not just contracts, determines the success of an acquisition Peter’s radical candor, deep humanity, and ambitious vision offer a fresh counter-narrative to traditional dealmaking. If you’ve ever wondered what it looks like when purpose shows up as the acquirer, this is the episode for you. ________________________________________________________________________ At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and meaningful change. In each episode, we ask guests to highlight a cause close to their heart. For Peter, that cause is Philadelphia FIGHT, a federally qualified health care provider in downtown Philadelphia. What began as an AIDS support organization in the 1980s now provides primary health care for thousands of marginalized people each year. As Peter shared, organizations like Philadelphia FIGHT are facing growing threats from funding cuts and policy shifts—changes that could deepen health care deserts across the U.S. Coming from Canada, where health care is treated as a right, Peter is deeply committed to supporting efforts that expand access for those who need it most.

    1시간
  7. EOTs vs ESOPs: What Every Founder Should Know

    2025. 09. 28.

    EOTs vs ESOPs: What Every Founder Should Know

    Chris Michael, founder of EOT Advisors, has dedicated his career to ensuring that employee ownership isn’t just a technical option—it’s a viable, dignified path for founders who want their life’s work to stand on its own two feet. As the person who introduced the Employee Ownership Trust (EOT) to the U.S., he’s facilitated more than $750M in capital transfers to over 3,000 workers, making him one of the movement’s most influential architects. In this episode, Chris breaks down the differences between EOTs and ESOPs—and offers perspective on cooperatives—explaining why each model exists, where they work best, and why simplicity, speed, and sustainability matter when transitioning ownership. From “naked in, naked out” profit sharing to the “cabin in Minnesota” analogy, he makes a complex subject approachable while underscoring why employee ownership is more than a structure—it’s a cause worth supporting. For founders weighing their options, this conversation offers more than a comparison of models. It’s a vision for how business legacies can be preserved, employees empowered, and missions locked in for generations. To explore Michael’s work and the future of Employee Ownership Trusts, visit ⁠eotadvisors.com⁠ or connect with him on ⁠LinkedIn⁠. ________________________________________________________________________________________________________________________ At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and meaningful change. In each episode, we ask guests to highlight a cause close to their heart. For Chris, that cause is employee ownership itself—ensuring businesses can be transitioned into structures that protect mission and values for generations of workers. Instead of pointing to one organization, Chris encourages listeners to think about supporting the broader employee ownership movement—whether through philanthropic dollars directed to groups advancing this work, or by exploring how their own businesses might transition into an Employee Ownership Trust or Perpetual Purpose Trust.

    1시간 1분
  8. From Earth Mamas to Perpetual Purpose Trust: Brenna Davis and Organically Grown Company

    2025. 08. 28.

    From Earth Mamas to Perpetual Purpose Trust: Brenna Davis and Organically Grown Company

    Some companies follow a path. Others create one. Organically Grown Company didn’t just adopt an ownership model — they invented a new one. When their ESOP no longer fit, they pioneered the nation’s first Perpetual Purpose Trust, building the blueprint as they went and openly sharing it with anyone who wanted to learn. That ingenuity seeded an entire movement. Today, more than 50 companies — including Patagonia — have followed their lead. And OGC continues to advocate, educate, and push the boundaries of what steward ownership can look like. In this episode, CEO Brenna Davis takes us inside the story: from a co-op of farmers and Earth Mamas, to a radical new ownership model that locks mission in place, shares profits with coworkers and community, and sets a powerful precedent for purpose-driven business everywhere. To dive deeper into Brenna’s work, check out Leading Through Fire, her international bestselling book on resilient leadership, and visit brennadavis.com for more on her writing and speaking. You can also follow her leadership journey at organicallygrown.com or connect with her on LinkedIn. ____________________________________________________________________ At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and creating meaningful change. In every episode, we invite our guests to highlight a charity or organization that holds special significance to them and is making a real impact in solving global challenges. Brenna gives her time and support to the Purpose Trust Ownership Network, which helps companies adopt steward-ownership structures that keep mission locked in for generations. She’s equally passionate about Friends of Noise, a nonprofit dedicated to amplifying youth voices by providing safe, all-ages spaces for music and performance.

    51분
모두 보기(23개)

예고편

소개

Welcome to "Ethical Exits," a podcast dedicated to mission-driven entrepreneurs exploring the path of ethical business transactions. In this podcast, we'll delve into the often opaque world of mergers and acquisitions, a landscape filled with secrecy, uncertainty, and complex decisions. We'll share compelling stories from entrepreneurs who have successfully navigated ethical exits and provide insights from active sellers seeking a responsible transition. Join us as we uncover the principles and practices that make these transactions both impactful and integrity-driven.

정보

  • 제작진
    Hosted by Hannah Sandmeyer
  • 방송 연도
    2024년 - 2026년
  • 에피소드
    23
  • 등급
    무삭제판
  • 웹사이트 보기
    Ethical Exits