Independence by Design™

If you’ve ever wondered why private equity–backed companies often look more disciplined, more focused, and ultimately more valuable than most owner-led businesses, this episode pulls back the curtain on the operating system behind it—and shows you how to apply the same structure without giving up control. Nick Bradley (27+ and $5B in acquisitions) breaks down the private equity governance model: how firms start with a clear investment thesis, define specific EBITDA levers, install a 90-day execution plan, run tight board cadence, and align leadership around measurable value drivers—all with a 3–5 year, 3–5x exit in mind.  Then we contrast that with the iBD Ownership OS™. Mechanically, the systems are nearly identical—governance above operations, KPI clarity, disciplined capital allocation—but the outcome is different. Private equity optimizes for IRR and multiple expansion; iBD optimizes for time, cash flow, wealth, and optionality through the Owner’s Scorecard™. This episode helps you decide which scoreboard you’re playing for—and how to build accordingly. Top 10 Takeaways Private equity doesn’t outperform owners because they’re smarter — they outperform because they install governance you’ve never been forced to install. PE defines how value will be created before they ever touch operations — most owners grow first and justify it later. The first 90 days in PE are about installing discipline; most owners are still reacting 10 years in. PE boards review forward-looking value drivers; most owner meetings review last month’s fires. Capital creates clarity — because when money has a clock on it, excuses disappear. EBITDA expansion in PE is intentional and measured; in owner-led companies it’s often accidental or inconsistent. The gap between PE-backed businesses and independent owners isn’t capability — it’s structure. PE always knows the exit they’re building toward; most owners don’t know what “winning” looks like beyond growth. The iBD Ownership OS™ installs the same discipline without forcing a sale — but only if the owner commits to board-level governance. The scoreboard you choose — IRR or Owner’s Scorecard™ — quietly determines every major decision you make.  Nick Bradley has spent more than a decade on both sides of the PE table – as CEO of PE-backed companies four times and as an Operating Partner evaluating acquisition targets. Across 27 transactions totaling $5B+ in exits, he’s seen what separates businesses that command premium multiples from those that get picked apart in due diligence. Now he brings that insider playbook to founder-led businesses. His book Exit for Millions hit #1 on Amazon. His podcast Scale Up with Nick Bradley has over 1 million downloads across 130+ countries. But his real work happens behind closed doors – helping 7-8 figure business owners transform their companies into investor-grade assets that sell on their terms, not the buyer’s. Chapters: (00:00) Nick Bradley's background: helping founder-led businesses become investor-grade (03:14) The gap isn't capability — PE outperforms because of governance you've never been forced to install (05:00) Capital creates clarity: when money has a clock on it, excuses disappear (17:22) PE defines how value will be created before they ever touch operations (22:36) Deal structure decoded: cash at close, earnouts, and rollover equity explained (32:27) The first 90 days install discipline; most owners are still reacting ten years in (50:27) PE bo...

“Most companies don’t have a revenue engine; they have a collection of tactics.” - Kim Clark Watch on YouTube This episode is about helping owners understand why revenue feels so frustrating and chaotic—and what actually has to exist for it to become predictable. Kim Clark walks through what a Chief Revenue Officer (CRO) really does, not as a title, but as an owner-level responsibility for designing and governing the entire revenue system end-to-end.    We break down why revenue silos form across sales, marketing, and leadership, how that fragmentation destroys forecasting and cash flow clarity, and how Kim’s CRO framework and nine core modules give owners a concrete picture of what “good” looks like so revenue stops being a guessing game and starts supporting real ownership goals.  Top 10 Takeaways  Revenue feels chaotic when no one owns it end-to-end.  A CRO is responsible for designing the revenue system, not just driving sales activity.  Predictable revenue is created through structure and constraints, not hustle or volume.  Most revenue silos exist because accountability is split across functions instead of unified.  Without a clearly defined ICP, every downstream metric becomes noisy and misleading.  Marketing spend becomes wasteful when it isn’t tied to pipeline math and unit economics.  Forecasting fails when assumptions aren’t explicit and owned by one accountable leader.  Growth without economic clarity often increases stress instead of creating freedom.  Owners don’t need to run revenue, but they must understand what “good” looks like to govern it.  When revenue is designed properly, decision-making shifts from reactive to intentional.    Kim Clark is a sales and marketing strategist who helped scale ITR Economics from a founder-led advisory firm to a professionally managed company that exited at eight figures. As head of sales and marketing, she built the firm’s first CRM, content strategy, and inbound engine—moving the company from personality-based selling to a system built on data, automation, and strategic execution. Today, she works with business owners to build marketing engines that align with their strategy, team, and long-term cash flow goals—so they can grow without chaos and delegate without losing visibility. Her frameworks are directly aligned with the "Maximize Growth" track inside the Build a Valuable Business module of the iBD™ Magic Model.    Chapters:   (00:00) Why revenue feels chaotic when no one owns it end-to-end  (03:00) Designing the revenue system: architecture, journey, and predictability over campaigns  (05:10) Breaking silos: unified accountability across sales, marketing, and operations  (09:15) Womb to tomb, service level agreements, eliminating blame between sales and marketing  (17:17) Marketing spend guardrails: tying budget to pipeline math and profitability  (24:20) Building systems that support structure and constraints, not just hustle  (28:55) Defining ICP and winning position: without clarity, all metrics become noise  (40:02) Systems & Forecasting with explicit assumptions: one accountable leader owns the numbers  (47:00) CRO, COO, CFO priorities: understanding constraints to avoid chaotic growth  (54:13) Growth without economic clarity increases stress instead of creating freedom  (58:13) Owner education as governance: spotting bad advice and wasteful spending   Resources: Kim Clark LinkedIn https://www.linkedin.com...

John Abrams is a founder who didn’t set out to build an employee-owned company—he redesigned ownership after realizing the traditional model no longer matched how he wanted to lead or live.Watch on YouTubeJohn and I talk about what happens when owners realize they’ve built a business that depends too much on them—and how that dependence quietly shapes behavior, trust, and decision-making. We don’t treat employee ownership as a solution in search of a problem, but as one response to a deeper realization: ownership structure determines where responsibility actually lives. This episode is about design—how power, decision rights, and accountability are distributed once an owner no longer wants to be the center of everything. It’s not about being altruistic or giving control away. It’s about building a business that reflects how you want to lead and live, without pretending the tradeoffs are clean or easy.John Abrams is the co-founder of South Mountain Company, a building firm he started in 1973 and spent 50 years growing into one of the highest-scoring B Corps in the world. After decades as the central owner, John transitioned the company into a worker cooperative and fully stepped away in 2022, believing the business was ready to grow beyond the limits of his leadership. He is the author of Companies We Keep and From Founder to Future, and now works with owners navigating succession, governance, and employee ownership. The 10 takeaways:Not inspirational. Not philosophical. Just true. Many ownership problems don’t show up as crises—they show up as quiet dissatisfaction. Being central to everything feels important until it starts to feel constraining. Owners often mistake being needed for being effective. The way ownership is structured determines how people behave, not what’s written on the wall. Trust without clear decision rights creates confusion, not empowerment. Letting go isn’t about generosity—it’s about changing where responsibility lives. Shared ownership only works when authority and accountability are explicit. Owners shape culture more by structure than by intention. Employee ownership is a design choice, not a moral one. The real work of ownership is deciding what should depend on you—and what shouldn’t. Chapters: (00:00:00) John's journey founding South Mountain Company in 1973 (00:04:09) Converting to worker cooperative in 1986, facing fears (00:09:41) Landscape of cooperatives: consumer, worker, and purchasing types (00:13:08) ESOP conundrum and advantages of worker cooperative model (00:27:00) Three million businesses facing ownership transition over twenty years (00:34:10) Why ownership transitions should happen earlier in career (00:40:31) Valuation mechanics and finding the affordable sweet spot (00:52:05) Building ownership culture through kindness and straight talk (01:04:03) Leadership development and preparing for retirement transition (01:08:18) Psychology of letting go: overcoming ego and identity fusion (01:14:03) Economic mechanics: dividends versus equity in worker cooperatives (01:21:22) Meeting facilitation and consensus decision making in ownership culture Resources:John Abrams: https://abramsangel.com What the F Happened in 1971: https://wtfhappenedin1971.com

Part 1: The Economic Backdrop (Alan Beaulieu & Kim Clark)Watch on YouTubeAlan, Kim, and I unpack why political pressure on the Federal Reserve isn’t a headline issue — it’s a business planning issue. When monetary policy becomes reactive rather than methodical, uncertainty creeps into borrowing, hiring, investing, and ultimately into whether owners freeze or move forward.This part of the conversation is about why stability matters more than perfection. Even in a flawed system, predictable rules allow owners to plan, adapt, and stay solvent. The real danger isn’t inflation alone — it’s volatility, whiplash, and decision paralysis driven by short-term political incentives.Part 2: What It Means for Valuations & Deals (Kyle McCulloch)Kyle walks through bizval’s Q1 2026 M&A Report and what’s actually happening in the market — how valuations are being set, how deals are being financed, and why many owners misunderstand both. We talk about why multiples are a blunt instrument, why discounted cash flow is the real anchor, and how shifts in debt markets are quietly changing cash-at-close outcomes.This conversation matters because owners are capital allocators, whether they realize it or not. Cash sitting still is melting. Debt is more expensive. Buyers are structured differently. The owners who win the next five years won’t be the ones guessing — they’ll be the ones who understand how risk, cash flow, and valuation actually work together. Top 10 TakeawaysFrom Alan & Kim (Macro & Stability)Political control of monetary policy replaces long-term thinking with short-term chaos.Uncertainty, not recession, is the real enemy of business planning.Volatile interest rates make capital decisions nearly impossible to time intelligently.Agility matters more than company size when conditions shift quickly.Even a flawed system needs stability to avoid economic whiplash.From Kyle (Valuation & M&A Reality)Multiples start negotiations, but cash flow risk determines real value.Discounted cash flow exposes risks that market comps completely ignore.Bank financing is retreating — private credit is filling the gap at a cost.Cash at closing should equal DCF, or the seller is still carrying risk.Reinvesting capital above your cost of capital is the only way to beat debasement. Kim Clark is a sales and marketing strategist who helped scale ITR Economics from a founder-led advisory firm to a professionally managed company that exited at eight figures. As head of sales and marketing, she built the firm’s first CRM, content strategy, and inbound engine—moving the company from personality-based selling to a system built on data, automation, and strategic execution. Today, she works with business owners to build marketing engines that align with their strategy, team, and long-term cash flow goals—so they can grow without chaos and delegate without losing visibility. Her frameworks are directly aligned with the "Maximize Growth" track inside the Build a Valuable Business module of the iBD™ Magic Model.    Alan Beaulieu is a globally recognized economist and former President of ITR Economics, a firm with 94.7% forecasting accuracy over 80 years. For more than three decades, Alan has guided executives worldwide through all economic cycles, providing clear, actionable insights on markets, strategy, and investment. A respected speaker, author, and advisor, his data-driven approach helps companies anticipate change, protect value, and maximize profitability. Kyle McCulloch brings a rare combination of global macro risk analysis, cyber strategy, and operational grit. From t...

This conversation with Bill Cowan is a full arc—from career operator to business owner to successful exit to peer group chair—and it surfaces the real lessons most owners only learn the hard way.Watch on YouTube Bill shares what it was like to spend six years searching for the right business, why anxiety pushed him into compromises he wouldn’t make again, and how owning a company fundamentally changed how he thinks about leadership, risk, and decision-making. We unpack why passion for the work itself matters more than spreadsheets alone, why building for exit from day one sharpens every decision, and how clarity beats perfection every time. We also go deep into the mechanics most owners never see: buyer psychology, deal structures, seller financing, earn-outs, trust-based transactions, and how real exits actually get done in the lower middle market. This isn’t theory—it’s lived experience, with the scars and wisdom to prove it. William “Bill” Cowan is a Vistage Chair and former business owner with a diverse career spanning veterinary medicine, medical devices, higher education leadership, and entrepreneurship. After buying, growing, and successfully exiting an organic lawn care business, Bill now works closely with owner-operators as a peer group facilitator, bringing rare empathy and practical insight shaped by firsthand ownership experience. Top 10 Takeaways Anxiety can create urgency, but it can also cloud judgment and push owners into compromises they later regret. You should enjoy the work of the business itself, not just the idea of ownership or the eventual exit. Building for exit from day one creates better decisions, stronger teams, and a more valuable company. Passion is not optional—it directly impacts stress, energy, leadership effectiveness, and longevity. A timely imperfect decision is often better than a perfect decision made too late. Understanding how buyers think changes how you run the business long before you ever sell. Documented processes, owner independence, and a capable team are core value drivers—not “nice to haves.” Most lower-middle-market exits require creative deal structures, trust, and flexibility—not just cash. Owner experience creates empathy that cannot be learned any other way. Tenacity matters more than getting every decision “right”—you influence outcomes more than you think. Chapters: (00:00) Introduction to Bill Cowan and his business ownership (02:43) Career path from veterinarian to medical devices to education leadership (07:40) Six-year search for right business reveals complexity of buying (16:00) Compromising on B2C instead of B2B despite original acquisition criteria (27:00) Growing business threefold while intentionally restraining further growth (36:00) Critical lesson learned: passion for actual work matters more than expected (42:00) Building for exit from day one shaped every business decision (49:00) Exit structure required trust-based deal with performance-based terms (57:28) Transition to Vistage Chair applies hard-earned ownership experience (01:05:00) Making timely imperfect decisions beats perfect decisions made late Resources:William Cowan LinkedIn: https://www.linkedin.com/in/williamcowan-dvm/Ryan Tansom Website h...

This conversation with Tom Shipley goes far beyond “growth” or “M&A tactics.” It’s about understanding the real game of ownership — how value is actually created, how capital really works, and why most owners unknowingly trap themselves by optimizing the wrong things. Watch on YouTube We start by reframing business as a finite game of time, energy, and capital. Tom shares how his background in Special Forces shaped his approach to leadership, resourcefulness, and decision-making — and how those principles carried into building, acquiring, and ultimately selling businesses.  From there, we go deep into the mechanics most owners never truly understand: valuation, EBITDA vs. cash flow, multiple expansion, acquisition strategy, and deal structure. Tom breaks down how value is created before the exit, why fundamentals matter more than hype, and how acquisitions can create real wealth — or destroy it — depending on how they’re done.  We end with one of the most important insights in the episode: the “valley of despair” facing owners with $1–$2M EBITDA, and Tom’s merge-to-exit model designed to help founders escape it by building scale, optionality, and alignment before they sell.  Tom Shipley is a serial entrepreneur and M&A expert with 20+ years scaling brands to $2B+ in sales via D2C, Amazon, and retail giants like Costco and Ulta. A "lone soldier" in Israel's elite IDF Unit 669, he bootstrapped Atlantic Coast Brands to $100M (exited 2021), raised $100M for Foundry (e-com aggregator), and founded AVA Acquisitions for digital agencies. Now, via Deal Boardroom and bi-annual DealCon Summit, he empowers founders to acquire, scale, and exit—often with $0 down. Host of Deal Playbook podcast, Shipley splits time between Austin and Tel Aviv, mentoring hyper-growth via Shipley Capital.  Top 10 Takeaways  Ownership is a finite game — time, energy, and capital are limited, so priorities must be chosen deliberately.  Great leaders optimize for resourcefulness, not resources, especially when conditions get constrained.  EBITDA and cash flow serve different purposes: cash is survival, EBITDA is valuation.  Revenue growth without fundamentals often destroys value instead of creating it.  Valuation is ultimately about confidence in future cash flows, not past performance.  Multiple expansion is one of the most powerful — and misunderstood — wealth creation tools in business.  Acquisitions create value only when they are strategically complementary, not just additive.  Poor integration turns acquisitions into “Frankenstein” businesses that collapse under complexity.  Most $1–$2M EBITDA owners are stuck in a no-man’s land where selling doesn’t deliver real freedom.  Merging before exiting can dramatically increase the probability, multiple, and outcome of a successful sale.   Chapters:  (00:00) Introduction of Tom Shipley and discussion of acquisition strategies  (02:37) Finite resources require prioritizing impact, adventure, and resourcefulness  (07:10) Writing your own epic novel with five-year chapters  (09:40) Buying businesses without cash using creative deal structures  (12:16) Special Forces lessons on resourcefulness, tenacity, and team leadership  (21:30) Valuation fundamentals and confidence in future cash flows  (35:00) Multiple expansion and compounding value through strategic acquisitions  (43:32) Strategic fit and avoiding Frankenstein rollups in acquisitions  (55:13) Integration work upfront generates cash flow versus Frankenstein EBITDA  (58:36) Where to find Tom Shipley and inf...

Matt is the founder of MarketBeat, a financial media company he’s built quietly over 19 years into a ~$50M/year business with around 20 employees — and what makes this episode special isn’t just the scale, it’s how he’s designed the business and his life around it. We talked about focus, attention, hiring, valuation discipline, resisting hype cycles, and why keeping the business can often be the most profitable move an owner can make.  Watch on YouTubeWe also unpacked the realities most people never see: what it actually takes to build leverage without blowing up the mothership, how to think clearly about valuation and selling, how AI really fits into the future of work, and what happens after you cross financial independence. This episode is about designing ownership — not chasing exits, headlines, or noise.  Matt Paulson is the founder of MarketBeat, a financial media company he’s grown over 19 years into a ~$50M annual business. He also runs Homegrown Capital, a Midwest-focused venture firm with ~$40M under management. Known for his disciplined approach to growth, valuation, and hiring, Matt focuses on building durable businesses, developing high-caliber teams, and designing work around a meaningful life beyond the balance sheet.  Top 10 Takeaways  Focus works when the owner owns the few things they are uniquely great at and delegates everything else.  Over-optimizing a healthy business often does more damage than thoughtful restraint.  The best businesses allow safe experimentation without risking the core cash-flow engine.  Most owners misunderstand valuation because they confuse effort, emotion, and market reality.  Selling a business is often driven by burnout, not strategy — and that distinction matters.  Financial freedom changes decision-making more than most people expect.  AI will reward operators who understand fundamentals, not replace them.  Strong teams are built by upgrading competence only when the business is ready for it.  The most valuable skills in the future are the ones that can’t be automated.  The “good old days” aren’t behind you — they’re happening right now if you’ve designed the margins to see them.   Chapters:  (00:00) Matt Paulson and his unexpected consulting success  (08:34) Managing attention, avoiding distractions, and setting boundaries with community involvement  (11:31) Overcoming FOMO and learning to say no to opportunities  (14:59) Delegating what you don't want to do and building systems  (19:58) Hiring great people and making MarketBeat a premier employer brand  (26:07) Homegrown Capital's venture investment thesis and evaluating startups  (37:41) Why Matt turned down acquisition offers and chose to keep MarketBeat  (40:24) Managing wealth, teaching kids about money, and charitable giving  (54:11) Being authentic versus content creation and avoiding labels in business  (59:10) Setting goals, living in the present, and thinking about succession planning  (1:08:14) Email marketing expertise and managing six million subscribers at scale   Resources: https://www.marketbeat.com/ Matt Paulson LinkedIn: https://www.linkedin.com/in/matthewpaulson/ Ryan Tansom Website https://ryantansom.com/  

Most owner-operators have a complicated relationship with their bank — part dependence, part frustration, and very little transparency. I’ve lived that reality myself, and I know how powerless it can feel when decisions are made “behind the curtain.” Watch on YouTube In this episode, I sat down with my longtime friend and commercial banker, Luke Maupin, to pull that curtain back. We walk through how banks actually make money, how credit decisions really get made, why some owners get easy access to capital while others get boxed in, and how much of this comes down to planning, storytelling, and preparation — not luck.  This conversation is about flipping the power dynamic. When owners understand the banking business model, bring a clear financial narrative, and know which questions to ask, banks stop being adversaries and start becoming tools. The goal isn’t cheaper money — it’s optionality, confidence, and control over your future.  Luke Maupin is a commercial banker with nearly two decades of experience across large national banks and community institutions. Known for advocating for owner-operators inside the banking system, Luke specializes in credit strategy, growth financing, and helping businesses align capital structures with long-term plans. He brings uncommon transparency to how banks operate and how owners can navigate lending relationships with confidence.  Top 10 Takeaways  Banks are businesses first, and their balance sheet health directly impacts your access to capital.  Most lending decisions are driven by risk allocation and capital reserves, not personal relationships.  A banker’s real job is to be a storyteller for your business inside the credit department.  Owners should ask the same hard questions of their bank that banks ask of them.  Deposit composition, portfolio concentration, and liquidity matter more than headline interest rates.  A three-statement financial forecast is the strongest leverage an owner can bring into a banking relationship.  Covenants, not rates, are usually what restrict owner freedom the most.  Personal guarantees are negotiable, especially when tied to clear performance milestones.  The right debt structure depends on timing, cash conversion, and growth visibility — not rules of thumb.  Owners who can clearly show when effort turns into cash regain control of financing conversations.   Chapters:  (00:00) Introduction, Luke Maupin - from touring musician to commercial banker  (05:50) Banking transparency: asking banks the same questions they ask you  (14:38) How banks operate: deposits, liquidity, and the business model  (37:30) How banks make money: lending margins, fees, and treasury management  (44:34) Business banking versus middle market: understanding customer segmentation  (56:00) Cash flow mastery and why three statement projections matter  (1:00:17) Credit approval process: understanding who makes the final decision  (1:19:41) Covenants and distributions: negotiating terms that don't strangle growth  (1:33:18) Personal guarantees: strategies for negotiating and eliminating recourse debt   Resources: Lucas Maupin LinkedIn: https://www.linkedin.com/in/lucas-maupin-0501b428/ Ryan Tansom Website https://ryantansom.com/

Most owners don’t wake up wanting to sell their business. They wake up tired, overloaded, and unsure how much longer they can keep doing everything themselves. In this conversation, John Bartlett and I start by unpacking that reality — the moment when success on paper doesn’t feel like freedom, and selling starts to feel like the only option. Watch on YouTube From there, we zoom out and talk about what’s really going on beneath the surface: phantom wealth, misunderstood cash flow, and why many owners don’t actually see the full set of options available to them. We talk about how value is created, what actually drives multiples, and why clarity around cash flow and owner dependency changes everything.  Only after that foundation is set do we walk through the real process of selling a company — what actually happens when you go to market, how deals are structured, how long it takes, where owners get surprised, and why the headline price is often the least important part of the transaction. This episode is about helping you see the whole landscape clearly — so whether you build, transition, or sell, you’re making an intentional decision instead of reacting out of exhaustion.  John Bartlett is the founder of Brentwood Growth, where he helps owner-operators navigate valuation, growth, and M&A decisions with clarity and realism. A former serial entrepreneur, John grew and sold multiple businesses before becoming an advisor to lower middle-market owners. His work focuses on turning companies into durable assets—whether that means scaling, de-risking, or exiting on aligned terms.  Top 10 Takeaways   Most owners don’t want to sell their business — they want relief from carrying everything themselves.  Phantom wealth is common: businesses look valuable on paper but don’t produce real freedom or liquidity.  Enterprise value is driven by adjusted EBITDA and the confidence buyers have in future cash flow.  Owner dependency is one of the biggest value killers, even in otherwise strong businesses.  Selling is not a moment — it’s a long, demanding process that reshapes the owner’s life for months or years.  Deal structure (taxes, earn-outs, rollover equity, timing) often matters more than the headline price.  Most owners dramatically underestimate how long a real M&A process takes and how consuming it is.  Buyers pay for predictability, not potential, and confidence in cash flow determines the multiple.  Owners who wait until burnout have fewer options and less leverage than they realize.  The best outcomes happen when owners understand their options early and choose intentionally, not reactively.  Chapters:   (00:00) Making a meaningful difference in business owners' lives and transitions  (06:08) Three categories of sellers: burned out, transitioning, and scaling  (10:40) Life as jigsaw puzzle: balancing financial and lifestyle goals  (25:45) What owners really want is work-life balance and control  (36:10) Valuation process: determining current worth and future potential value  (46:10) Valuation fundamentals: adjusted EBITDA and multiple determine enterprise value  (01:01:40) Complete M&A process timeline from teaser to final offers  (01:10:10) Marathon hydration analogy: plan your exit before you're exhausted  (01:14:00) Quality of earnings: the detailed due diligence cavity search  (01:26:20) Critical difference between gross sale proceeds and after-tax reality  (01:28:33) Lock business down within twelve months of planned sale   Res...

Most owners make decisions in the dark. Sales over here, payroll over there, cash flow somewhere in the background — and no clear way to see how it all fits together.Watch on YouTube In this episode, I break down the 5-year, three-statement model I use with clients to finally show how revenue, margins, OpEx, working capital, cash flow, and valuation all connect. It's the system that turns guessing into clarity, scattered decisions into strategy, and helps you design a business that aligns with your goals for time, cash flow, and long-term wealth. When owners finally see the whole picture — how their decisions drive EBITDA, how working capital eats cash, how valuation is created, and how comp and accountability align to their goals — they gain the ability to run the company from the boardroom instead of the weeds.I know what it's like to feel trapped in the grind of running a business. In 2009, I joined my family's $21 million company during a financial crisis, and over five years, we turned it around and sold it for eight figures. While that sale looked like a win on paper, it left me questioning everything. The stress of running the business, the massive tax hit, and the lack of clarity about how our decisions aligned with our goals taught me a powerful lesson: most business owners don't have a framework to make decisions that lead to true freedom.That's why I created the Independence by Design™ Ownership Framework. It's a system to help owner-operators align their business decisions with their goals for time, cash flow, and wealth. Over the last decade, I've been a part of dozens of transactions and worked with thousands of business owners, helping them design businesses that work for their lives—not the other way around. On the podcast, I share strategies and insights I've learned along the way, bringing in top thought leaders like Gino Wickman, Mike Michalowicz, Jack Stack, and Bo Burlingham to provide their perspectives. Whether you're feeling stuck, planning to scale, or preparing for an exit, my goal is to give you the tools and confidence to take back control and build a life you love. This isn't just another business podcast. It's about reclaiming your independence and designing a business that gives you the freedom you deserve.Top 10 Takeaways Your ownership goals must drive the business model — not the other way around. A business is a system — and the three statements show the whole system at once. Valuation is not a mystery — it’s predictable math tied to cash flow. The "valuation gap" determines whether your dreams are mathematically possible. Revenue must be predictable — and that requires a mapped customer journey and measurable funnel. Margins are an operational scorecard — not just accounting output. Working capital is the silent killer — and explains why the bank balance never matches the P&L. The cash flow statement is the bridge between ownership and operations. Comp plans must be tied to the model — aligning the team around revenue, margin, EBITDA, and cash. The model is the owner’s decision engine — allowing them to elevate into the boardroom. Chapters: (00:00) Why ownership goals must drive your business model: time, cash and wealth (04:22) The valuation gap tab: understanding enterprise value and equity value (09:30) Projections: building your five-year revenue and growth assumptions (13:00) Revenue forecasting: line of busi...

You hear the hype about AI every day, but when you try to use it, it feels like a toy rather than a tool that can actually help you reclaim your time. Watch on YouTubeIn this episode, I’m cutting through that noise with Tyler LaFleur, a former nurse and functional medicine practitioner turned Fractional COO. I brought Tyler on because he doesn’t look at business through the lens of "growth at all costs." He uses first principles thinking—the same diagnostic approach used in medicine—to find the root cause of what is keeping you stuck in the day-to-day.We have a candid, practical conversation about why most business owners fail with AI because of "lazy prompting," and why Artificial Intelligence is useless without "Objective Truth." If you don’t have your financial constraints and ownership goals clearly defined first, applying AI is just pouring rocket fuel into a car with no steering wheel—you’ll just hit the wall faster.Top 10 Takeaways First Principles Thinking: Just like in functional medicine, you must strip a business down to its core mechanics to find the root cause, not just treat the operational symptoms. The "More" Trap: When an owner lacks a definitive financial goal, the default strategy becomes a chaotic, exhausting pursuit of "more" revenue without more freedom. AI Needs Constraints: AI is a rocket ship, but it needs a rudder. Without the "Objective Truth" of your financial model and ownership goals, AI will hallucinate a path to nowhere. Visionary vs. Integrator: Visionaries are great at starting fires but terrible at putting them out. AI can act as the "Integrator" that documents processes and executes the details you hate. Don't Automate a Mess: Before building complex agents, start with "low-hanging fruit"—the repetitive administrative tasks that steal 6-10 hours of your time every month. Lazy Prompting: The reason AI "doesn't work" for most owners is that they treat it like Google. You must give it deep context (your strategy, constraints, and voice) to get boardroom-level output. Claude vs. ChatGPT: For business owners, Tyler recommends Anthropic’s Claude because its "Projects" feature allows you to upload your entire operating system as context. Cleaning Financial Data: You can teach AI a "Skill" (like cleaning a messy trial balance or categorizing expenses) by simply showing it a transcript of you doing it once. The "Ladder on the Wrong Wall": AI will help you execute a bad strategy faster. Efficiency is useless if it’s driving you toward a business model you hate. Just Start: You cannot break the AI. The biggest risk to your business isn't AI taking over; it's your competitor using it to move twice as fast while you wait for it to get "easier." Tyler LaFleur is a Fractional COO and AI integration specialist who helps visionaries escape the weeds. A former nurse and functional medicine practitioner, Tyler bridges the gap between biological systems and business operations, using "first principles" to diagnose and cure operational bottlenecks. He specializes in practical AI application—moving beyond the hype to build custom agents, automate workflows, and clean financial data using tools like Claude and ChatGPT.  Chapters:  (00:00) Tyler's journey from nursing to fractional COO to AI integration (06:23) First principles thinking applied to healt...

In this episode, I sit down with Greg Meredith, founder of Simply Strategic, to distinguish the crucial difference between having a strategic plan and actually possessing a strategy. We dive deep into Greg’s "9 Keystones" Simply Strategic framework, exploring how companies can identify their unique "Winning Position" on the battlefield of business. Greg explains why true strategy requires painful trade-offs, the importance of the "Opposite Rule" in decision-making, and how to successfully integrate high-level strategy into a daily business operating system for long-term execution.Watch on YouTube Top 10 Takeaways Strategy vs. Planning: Planning is the process, but the goal is a specific "Winning Position" on the competitive landscape. The Opposite Rule: If the opposite of your strategy looks ridiculous (e.g., "we give bad service"), you haven't made a real choice. The Power of Trade-offs: You cannot say "yes" to what matters most without aggressively saying "no" to other opportunities. Pick Your Hill: Companies usually win on one of five hills: Singular, Integrated, Preferred, Potent, or Scaled True Company Assets: Real assets aren't just on the balance sheet; they are the rare or "unmatchable" capabilities competitors can't copy. The Bullseye: Define success multi-dimensionally: set specific targets for culture, operations, and clients, not just revenue. Embrace the "Messy Middle": High-trust teams must fight through tension and disagreement to reach true alignment. 3 Phases of Strategy: A complete cycle requires three distinct phases: Prepare, Plan, and Persist. Progress Over Perfection: A 70% plan executed today is better than waiting indefinitely for a perfect strategy. Strategy Needs a System: A strategic plan is useless without a business operating system (like EOS) to ensure execution. Key Quotes "We start with this core definition of strategy is using company assets to create a high-impact winning position." - Greg Meredith "Can you define your strategy in such a way that a logical, savvy, even wise competitor would look at the opposite of your strategy and say, hey, that's viable, that's a good strategy." - Greg Meredith "Strategy is about intentionally saying, we're gonna go there, we're gonna hold that ground, we're gonna win from that place."- Greg Meredith "It's about trade-offs... You have to say no if you're really gonna say yes to the things that are most important."- Greg Meredith "It's gravity, it's not earthquakes... We want to put in that consistent pull. Here's where we are, here's what we're working on, not we're going to have this one-time event that's going to shake everything up."- Greg Meredith Greg Meredith Greg Meredith is the founder of Simply Strategic, a consultancy dedicated to helping small and mid-sized businesses ($2M - $500M revenue) build and execute actionable strategic plans. With a background in private equity and over 75 strategic engagements, Greg guides leadership teams through his "9 Keystones" framework. He focuses on helping owners define their "winning position," leverage unique company assets, and transition from planning to persisting, ensuring strategy integrates seamlessly with daily operations.

Marketing is confusing for most owners — not because the tactics don’t work, but because the data underneath is broken.  Watch on YouTube In this episode, I sit down with Alison Bechdol, founder of Digital-ade, to break down why so many owners feel like they’re throwing money at marketing with nothing to show for it. And the truth is simple: you cannot build a predictable revenue engine without clean data, real attribution, and a clear picture of your customer acquisition cost. Most companies don’t have a marketing problem — they have a data infrastructure problem. Tracking is wrong, systems aren’t unified, and owners don’t have the visibility they need to design revenue, forecast cash flow, or make decisions from the boardroom.  We also talk through the deeper issue: the marketing industry’s incentives are misaligned. Owners need doers, not gurus — and they need a clear order of operations to diagnose, fix, and scale what actually drives margin and enterprise value.  10 Takeaways:  Most owners don’t have a marketing problem — they have a data problem.   If attribution isn’t accurate, every marketing dollar becomes guesswork.   The marketing industry runs on misaligned incentives that reward activity over outcomes.   Many “strategic” roles lack operational depth, leaving owners paying for insight without execution.   Most companies’ tools are misconfigured, creating blind spots in revenue-critical data.   Bad data kills owner confidence and leads to reactive, inconsistent decisions.   There is a clear order of operations: fix tracking → unify systems → measure → optimize → then scale.  Predictable revenue comes from diagnostics and visibility, not tactics or trends.  Clean data + a reliable conversion funnel = predictable CAC, forecastable revenue, and controllable cash flow.  Clear data empowers owners to make boardroom-level decisions and allocate capital with confidence. Alison Bechdol is the owner of Digital-ade, specializing in analytics, tag management, event tracking, and paid media for both B2B and B2C companies. Known for cutting through noise and fixing the data foundations most businesses overlook, she helps owners build reliable tracking, clear attribution, and actionable insights. Alison also teaches GA4, KPIs, and Google Tag Manager through workshops, consulting, and speaking engagements.  Chapters:   (00:00) Alison's unconventional journey from event planning to analytics mastery  (05:45) First principles thinking and understanding consumer psychology in data  (12:37) Predictable revenue and mapping the complete customer journey  (15:37) Moving from mindset to implementation: where to start with data  (20:20) Setting goals and KPIs: working backwards from conversion points  (32:09) Building your dashboard: Looker Studio as single source of truth  (43:04) Why AI can't replace expertise: the insights problem explained  (56:00) Fractional resources and finding the right doers versus strategists  (1:12:37) Getting started today: implement tracking and identify conversion points  Rate, comment, and share with the owner/operators you know!  Resources: Company Website http://digital-ade.com/ Ryan Tansom Website https://ryantansom.com/  

Leadership gets thrown around so much that it’s lost meaning. We use it to describe control, management, or charisma—but the more I’ve lived through it, the more I believe real leadership is about thinking. It’s about clarity, purpose, and helping other people become who they’re capable of being. This conversation with Jeff West redefined a lot for me. Watch on YouTube We talked about the dragons that hold leaders back—fear, ego, comparison, and comfort—and how to slay them so we can think clearly, care deeply, and lead with alignment. Jeff’s perspective hit home because it connects the inner work to the outer results. Leadership isn’t about doing more—it’s about creating the space and systems that let others think and grow. Caring means refusing to let people default on themselves. Competence means designing clarity so accountability is possible.   If you’re an owner who feels trapped running the machine instead of leading it, this episode is for you.  It’s a masterclass in leading from within—thinking better, caring deeper, and designing a company that reflects your highest potential and brings out the best in everyone around you.  10 Key Takeaways (My Biggest Lessons)  Leadership starts within. You can’t lead others until you lead yourself—and that begins with self-awareness.  Slay your dragons. The real barriers are mental: fear, ego, comparison, and comfort. Once you see them, you can’t unsee them.  Thinking is the work. White space and reflection are how leaders create clarity. If you’re always busy, you’re managing, not leading.  Leadership vs. management. Management controls tasks; leadership inspires outcomes. Both matter—but clarity comes first.  Care and competence. Caring isn’t coddling; it’s not letting people default on themselves. Competence gives that care structure.  Purpose as a filter. Ask “why” until it becomes visceral. When purpose has you, it becomes your decision-making compass.  Strategic distribution of problems. Build thinkers, not followers. A great leader creates leaders who can carry weight.  Accountability through clarity. You can’t hold anyone accountable for something undefined. Clarity creates freedom.  Fulfillment over validation. Success isn’t about being the best—it’s about being aligned, growing, and enjoying the process.  Adversity builds competence. Growth comes from the hard things. Challenge is how leaders, and their teams, become great.   Who This Is For For any business owner who feels like the game keeps changing, this episode will help you understand why. If you’ve ever wondered why your hard work isn’t compounding the way it should, or what Bitcoin actually means beyond speculation, this conversation connects the dots between money, time, and ownership.  Jeff West has over 40 years of business experience. During his career, Jeff has been part of four high-tech start-up companies. He was a founder and CEO/President of Silicon Logic Engineering from 1996 to 2008. Over the past seventeen years, Jeff has worked with dozens of companies in the upper Midwest. His experience working with business owners and executive teams includes over 2,500 coaching sessions. Jeff is also the facilitator of the Applied Leadership Program. The program has seen dozens of area executives and potential new leaders go through its two-year program. In 2025, Jeff wrote his first book. 'Becoming Your Own Dragon Slayer' is a leadership book for kids and teens. It's been a #1 New Release on Amazon in three different categories.  Chapters:   (00:00) Defining great leadership using the NFL quarterback a...

Coming off my conversation with Lawrence Lepard, where we unpacked the broken foundation of fiat money, I wanted to push the question further: If the rules of the game are shifting, how do we navigate from here?  Watch on YouTube In this episode, I sit down with Alan Beaulieu of ITR Economics and Kim Clark to keep searching for what’s real — to make sense of where we actually are in the cycle and what business owners can do to design intelligently within it. The math behind the current system doesn’t work forever. Debt, demographics, and policy are pushing us toward an eventual reset. But rather than getting lost in the noise, Alan grounds us in data and context. This isn’t about doom — it’s about orientation. We dig into what’s true, what’s hype, and what owners can actually do: build moats around cash flow, people, and productivity, lead with clarity through uncertainty, and use this next downturn to do good—for employees, customers, and community. Because you can’t control the macro, but you can design within it.  What We Covered  Luke Groman's thesis on whether the US debt spiral has truly started.  What the bond market's strength means to the economy.  External triggers like China's real estate collapse could spark the real trouble.  The shift to a debt-refinancing economy that's hooked on endless asset inflation.  Forecast of a big inflationary bust followed by deflationary reset in the late 2030s.  Boomer healthcare costs peaking as the political window to tackle debt.  Global currency wars where everyone's debasing, but the US is inflating bondholders away.  AI's net positive on jobs short-term, held back by power and water limits.  Owner strategies: Building a moat around cash-flow businesses vs. prepping for sale.  Downturn as a chance to visibly do good and fix capitalism's rep through employee and community bets.  Who This Is For For any business owner who feels like the game keeps changing, this episode will help you understand why. If you’ve ever wondered why your hard work isn’t compounding the way it should, or what Bitcoin actually means beyond speculation, this conversation connects the dots between money, time, and ownership.  Kim Clark is a sales and marketing strategist who helped scale ITR Economics from a founder-led advisory firm to a professionally managed company that exited at eight figures. As head of sales and marketing, she built the firm’s first CRM, content strategy, and inbound engine—moving the company from personality-based selling to a system built on data, automation, and strategic execution. Today, she works with business owners to build marketing engines that align with their strategy, team, and long-term cash flow goals—so they can grow without chaos and delegate without losing visibility. Her frameworks are directly aligned with the "Maximize Growth" track inside the Build a Valuable Business module of the iBD™ Magic Model.    Alan Beaulieu is a globally recognized economist and partner at ITR Economics, a firm with 94.7% forecasting accuracy over 80 years. For more than three decades, Alan has guided executives worldwide...

Most business owners I know can feel it... the harder you work, the less it seems to matter. You’re producing real value, taking real risk, and yet the system keeps changing the rules.The system isn’t broken… It’s working exactly as designed. But it’s designed to steal your time.  Watch on YouTubeIn this episode, I sit down with Lawrence Lepard, author of The Big Print and sound money advocate, to unpack the truth about how fiat currency erodes value, distorts incentives, and traps business owners inside a system they were never meant to win. We break down how inflation isn’t just an economic concept — it’s a moral failure. The rules of the game have been rewritten to reward those who can borrow and print, while punishing those who produce and save. But there’s a way out. We talk about sound money — and why Bitcoin represents more than a new asset class. It’s the modern evolution of fairness, freedom, and real capitalism. This conversation connects history, economics, and ownership into one simple idea: if you understand how money works, you can finally design a life and business that align with reality, not illusion.  What We Covered  Why inflation is a mechanism of theft, and who it really serves  How fiat money distorts incentives and disconnects value from effort  The historical cycle of empires, debasement, and decline  Why sound money (and Bitcoin) rebalances fairness and accountability  The link between ownership, time, and personal sovereignty  What it means to “opt out” as a business owner, without checking out of society  How this transition might reshape capital markets, valuations, and freedom itself  Who This Is For For any business owner who feels like the game keeps changing, this episode will help you understand why. If you’ve ever wondered why your hard work isn’t compounding the way it should, or what Bitcoin actually means beyond speculation, this conversation connects the dots between money, time, and ownership.  Lawrence Lepard is a professional investment manager who has been a long time advocate for a return to sound money. He manages funds which focus on companies involved with gold and silver mining and Bitcoin. He is an active contributor to the "sound money" discussion on X, using the handle: @LawrenceLepard, and he recently published his first book: THE BIG PRINT: What Happened to America and How Sound Money Will Fix It.        The book is a discussion of how America's monetary system has gone astray and caused enormous pain for millions through inflation. The history of this process is laid out in the first part of the book: The Problem. The second half of the book is titled The Solution and explains what we must do to restore the American Dream. It offers investment insights that are relevant to all individuals and families and shows people how to protect themselves from inflation. The book is timely because as Mr. Lepard shows the problem is getting worse and is likely to result in a crisis very soon.  Chapters:   (0:00) Why The Big Print was written for the average person  (2:58) The fair game of capitalism that...

Most owners talk about “creating value,” but few stop to ask a more fundamental question: Value for what? Watch on YouTube In this episode, I sat down with my friend Nick Bradley—entrepreneur, investor, and host of The Scale Up Podcast—to explore how your ownership goals determine everything about your value-creation strategy. Nick comes from the private equity world, where the goal is clear: build to sell. I work with mid-market owners designing companies that can outlast them. We both work with the same kinds of businesses—but from opposite ends of the ownership spectrum. Together, we dig into how clarity of intent changes the entire game: the capital structure you choose, how you lead your team, and how you allocate your time and cash flow.  This isn’t about chasing one “right” path. It’s about picking your game—and understanding what freedom, wealth, and legacy look like depending on whether you’re designing for a third-party exit or an internal transition.  What We Covered  Why every ownership strategy starts with defining the end game  How valuation, structure, and leadership priorities change across exit paths  The investor lens: what third-party buyers actually look for  The owner lens: what matters most in family or internal transitions  How clarity on your long-term goal aligns your strategy, team, and time  The tradeoffs between liquidity, legacy, and control  Why “value creation” looks different depending on the game you’re playing  Who This Is For For any owner trying to decide what’s next—whether to sell, transition internally, or redesign their role—this episode will help you see the tradeoffs clearly. If you want to understand how your value-creation plan must align with your personal and ownership goals, this conversation will give you the clarity to design your next move intentionally.  Nick Bradley is an entrepreneur, investor, and former PE-backed CEO/Operating Partner who has scaled 100+ businesses and driven $5B+ in exits. Host of the top-ranked Scale Up with Nick Bradley podcast and author of the #1 bestseller Exit for Millions, he works with founders generating $1M+ EBITDA to diagnose true enterprise value and 2–10x it through operational excellence, acquisitions, and systems—so owners create freedom, optionality, and elite businesses.  Chapters:   (00:00) Nick Bradley joins to discuss his new book  (05:24) Ryan's ownership operating system and ideal client profile  (08:36) Three layers of exit and different coaching approaches  (18:34) Scale to sale framework and five pillars explained  (32:40) Private equity playbook and value creation strategies  (35:50) Real deal example: Rolling up three companies strategy  (46:15) Valuation expectations gap and education challenges explained 

Every owner wants a leadership team that can run the company without them. Few actually build one that can.  Watch on YouTube In this episode, I sat down with Cyndi Gave to talk about what it really takes to develop a team that thinks, decides, and acts like owners. We break down the tension every entrepreneur feels: how to let go without losing control, how to build trust without blind faith, and how to design leadership that frees you — not traps you. Cyndi shares her own experiences leading through growth, building accountability structures, and navigating the emotional side of leadership development. We connect those lessons directly to enterprise value, owner freedom, and what it really means to move from operator to owner.  This isn’t about org charts or titles. It’s about building a system of leadership that makes the company—and the owner—more free.  What We Covered  Why most owners stay trapped in operations (and how to escape the bottleneck)  How to build a leadership team that owns outcomes, not just tasks  The difference between management and leadership — and why it matters  How to let go without losing control  The connection between trust, accountability, and enterprise value  Why leadership development is the bridge between operating and owning  Cyndi Gave is an executive leader and organizational strategist who helps businesses build the systems, teams, and leadership culture required for sustainable growth. With deep experience guiding owners through transitions of scale, Cyndi specializes in aligning people, processes, and accountability so leadership teams can perform independently — freeing owners to focus on vision, strategy, and enterprise value creation.  Chapters:   (00:00) Cyndi's background as recovering HR person and evolution into behavioral expert  (15:05) Challenges of traditional recruiting and the adversarial hiring relationship dynamic  (32:58) Building the leadership team and defining job scorecards with stakeholder input  (46:13) Process for screening candidates using multiple assessment sciences and behavioral interviews  (1:04:12) Internal versus external candidates and succession planning without replacement mindset  (1:19:19) Coaching and development strategies for hard skills versus soft skills gaps  (1:27:54) Critical thinking assessment and AI's impact on strategic thinking abilities  (1:38:42) Understanding chaos creators and the importance of structured systems for creativity  Rate, comment, and share with the owner/operators you know!  Resources: https://www.themetissgroup.com/  https://www.themetissgroup.com/leadership-academy/hire-employees-service  Ryan Tansom Website

Most revenue budgets start with a top-down number: add 10%, push sales harder, and hope the math works out. That’s why so many plans collapse by spring. Watch on YouTube In Part 3 of our Budget Season 2026 Series, I sat down with Kim Clark to break down how to build revenue the right way: from the bottom up. Kim shares her 12-step revenue forecasting process and shows how to build by product, segment, and pipeline. We talk about aligning sales, marketing, and operations so the plan is deliverable — and how to connect the revenue build-up directly into the budget model from Part 2.  This isn’t about sales stretch goals or wishful percentages. It’s about creating a clear, defensible revenue plan that finance can trust and owners can use to make boardroom decisions about hiring, capacity, and cash.   In this episode, Kim and I screen-share and walk through the 12 steps. If you want to see the forecast in action, check out the video version on YouTube or Spotify.  What We Covered  Top-down vs. bottom-up forecasting → why most owners default to “just add 10%” and how that fails.  Kim’s 12-step process → very tangible, step-by-step structure owners can follow.  Revenue build-up mechanics → segments, products, pricing, pipeline, win rates, seasonality.  Operational alignment → connecting sales, marketing, and delivery so revenue forecasts don’t break capacity or margin.  Integration with Pat’s model → feeding clean revenue assumptions directly into the budgeting model.  Trust & credibility → how finance, leadership, and owners can finally use the same numbers and stop arguing about “whose forecast is right.  Kim Clark is a sales and marketing strategist who helped scale ITR Economics from a founder-led advisory firm to a professionally managed company that exited at eight figures. As head of sales and marketing, she built the firm’s first CRM, content strategy, and inbound engine—moving the company from personality-based selling to a system built on data, automation, and strategic execution. Today, she works with business owners to build marketing engines that align with their strategy, team, and long-term cash flow goals—so they can grow without chaos and delegate without losing visibility. Her frameworks are directly aligned with the "Predictable Revenue" module within the iBD Ownership Operating System.  Chapters:   (00:00) Overview of the three-part podcast series and revenue buildup process  (05:45) Kim's background at ITR Economics and systematic revenue forecasting approach  (16:36) Introduction to Kim's 12-chapter revenue forecasting framework  (22:29) Chapter 1: Understanding rates of change and business cycle positioning  (27:10) Chapter 2: Economic indicators and their impact on business planning  (34:55) Chapter 3: Market mix analysis and customer psychology strategies  (40:01) Chapter 4: Bottom-up forecasting with averages and historical data  (48:38) Chapters 5-12: Competitive analysis, pricing strategy, and execution planning<...

Most budgets don’t survive past Q1. They collapse because they aren’t built on cash flow, they don’t roll into the balance sheet, and they aren’t tied to owner goals. In other words, they’re not budgets — they’re wish lists. Watch on YouTube That’s why Part 2 of our Budget Season 2026 Series is all about the model itself. I sat down with Pat Hobby, who’s spent decades building financial models, to break down how owners can create a budget file that actually runs the business.  We dig into how to structure assumptions, link them to drivers, and roll everything into financials you can trust. We talk about Base, Upside, and Downside scenarios, how to keep the model simple but powerful, and how to set a monthly cadence so the budget stays alive all year.  This isn’t about Excel tricks. It’s about having one system that tells you when to hire, when to invest, when to pull back — and the confidence to make those calls from the boardroom.   In this episode, Pat and I screen-share and walk through an actual model. If you want to see the file in action, check out the video version on YouTube or Spotify.   What We Covered:  Why most budgets fail (and how to avoid building a wish list)  The structure of a usable model: assumptions → drivers → financials → outputs  How to build Base / Upside / Downside scenarios without breaking the file  The importance of linking P&L, cash flow, and balance sheet together  How to set a monthly cadence so budget vs. actuals drives real decisions  How to keep the model “living” without turning it into a science project  Pat Hobby is a seasoned CFO, CPA, and the founder of The CFO Advantage, a fractional CFO firm that helps business owners gain true financial clarity and use their numbers to drive long-term value. He was also the cofounder of Ryan Tansom’s former business, where they built a fractional CFO model serving dozens of clients across multiple industries. Pat has guided companies through ESOPs, private equity transactions, and complex financial transitions, always bringing an investor mindset and operational discipline to the finance function. He’s known for making complex financials simple, actionable, and aligned with ownership strategy.  Chapters:   (0:00) Introduction to budgeting fundamentals and three statement modeling approach  (4:59) Why budgeting starts with sales and revenue forecasting methodology  (21:04) Building the complete three statement model and end result overview  (26:32) Creating detailed monthly payroll budgets with full burden calculations  (38:55) Understanding cash flow statements and the owner operator bridge  (53:16) Forecasting balance sheet and working capital management levers  (1:09:35) Managing distributions, debt, and capital allocation decisions  (1:31:34) Implementing monthly budget reviews and ongoing financial management  Rate, comment, and share with the owner/operators you know!  Resources: Website: https://cfo-advantage.com/ LinkedIn: Pat Hobby Ryan Tansom Website https://ryantansom.com/