Independence by Design™

If you’re a business owner trying to make sense of Bitcoin, this conversation is your entry point.  Over two episodes combined into one, I sat down with Kim Clark and her father Alan Beaulieu—a partner at the world-renowned forecasting firm ITR Economics, known for its 94.7% accuracy over the last 80 years. Alan has spent his career helping owners understand what’s coming in the economy. In this conversation, he turned the tables and asked me to explain Bitcoin.  Across our discussion, we unpack what Bitcoin really is, how it compares to money as we’ve known it, and why it matters for owners thinking about value, valuations, and the future. Alan came in skeptical but open, and the questions he asked are the same ones every thoughtful owner has on their mind: Is Bitcoin safe? Is it different from other cryptocurrencies? Could it actually protect my wealth in the decades ahead?  I don’t claim to have all the answers. I’m still a student on this journey. But I’ve spent thousands of hours studying economics, money, and the history of financial systems—and I’ve come to believe Bitcoin is one of the most important developments of our time. It’s sound money for a world that desperately needs it.  In this episode we cover:  What Bitcoin actually is—and how it differs from cryptocurrency in general  Why money itself is just an open ledger of time and value  How Bitcoin solves the trust problem through scarcity and decentralization  Why fixed supply, proof-of-work, and network effects make it unique  The difference between Bitcoin and “shitcoins”  How demographics, debt, and fiat debasement are shaping the future of money  Why Bitcoin could redefine valuations and serve as a store of value for owners  How to think about Bitcoin as both a hedge and a design choice for your business and life  This isn’t financial advice, and it’s not a get-rich-quick pitch. It’s a real conversation—between an economist who’s spent decades forecasting the future, and me, an owner who’s spent a decade wrestling with how money, time, and business truly work.  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 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 c... Chapters (00:00:00) - Dissecting Bitcoin Valuations(00:06:10) - Bitcoin vs. All Other Cryptocurrencies(00:09:35) - Alan Greenspan on a Great Depression Coming in the 2030s(00:10:31) - Do We Let the Market Crash?(00:15:54) - Fed's Yield Curve Control(00:20:06) - correlation between M2 Money Supply and Bitcoin(00:25:12) - What Happens If Countries Turn Away From Bitcoin?(00:31:18) - Dividend Strategy: Is Bitcoin Riskier Than Bonds?(00:33:13) - What About the Risk of Fraud in Bitcoin?(00:35:34) - Robinhood CEO on Buying Bitcoin(00:37:46) - Would You Advise A Friend To Buy Bitcoin?(00:40:23) - Should the Fed Be Changed to a Cryptocurrency?(00:42:34) - Is Bitcoin a Revolution or an Economic Evolution?(00:46:33) - What Could Be Next for Bitcoin?(00:48:32) - The Countdown Clock to My Retirement(00:49:08) - What are the Most Promising Uses for Bitcoin?(00:50:12) - Bitcoin: Medium of Exchange vs. Store of Value(00:56:24) - U.S. Bank Won't Shut Down Coinbase or Robinhood(01:01:26) - Fooled by Capital: Can They Take Your Money?(01:06:15) - Is Coinbase a Money Laundering Site?(01:11:37) - Bitcoin: Three Layer Safeguard(01:14:28) - Is All Crypto Money Bad? (Answer)(01:19:39) - Stable Coins: How They Affect Bitcoin(01:23:02) - Dollar vs. Stock: The Emotion(01:26:55) - A Few Minutes in the Life of Bitcoin

Most advice treats all owners the same. The reality? There are two different games. For the 98% (smaller, tightly owner‑dependent companies), the job and the asset are commingled. Generic “exit planning” advice often creates noise: the math, buyers, and timelines rarely line up. For the 2% (true middle‑market owners with durable EBITDA and a management team), the game shifts to the boardroom. It’s about capital allocation—protecting value, preserving options, and making decisions across time, cash flow, and wealth. That’s the conversation in this panel debate with Mike Finger (Exit Oasis), moderated by Graham Stephen and Kyle McCulloch. Mike advocates for pragmatic guidance that helps the 98% make real progress. I argue for a clear line between the two games—and for ownership thinking when you’ve crossed into the 2%. We dig into: How the U.S. company landscape actually breaks down—and why that matters more than slogans What’s signal vs. noise for the 98% (cash flow, role/asset separation, transferable systems, realistic debt math) What’s signal for the 2% (board governance, valuation lenses, optionality, capital allocation) Where demographics, debt costs, and normalized EBITDA distort decision‑making Why many “exits” below the middle market don’t pencil—and what to optimize instead How to decide whether to design a great job (time + cash flow) or build a true asset—and what each path demands Where I think Bitcoin fits as long‑term store of time/value for owners—and where it doesn’t help Bottom line: Know which game you’re in. Filter the advice accordingly. If you’re in the 98%, focus on cash flow, dependability, and de‑risking. If you’re in the 2%, think like an allocator and run from the boardroom.Graham Stephen is a former banker and chartered accountant turned entrepreneurial strategist. After witnessing firsthand how the traditional financial system fails owner-operators, he co-founded Bizval to bring clarity, simplicity, and first-principles thinking to the messy world of valuation. His work helps owners understand their true worth—not just on paper, but in cash terms they can act on.  Kyle McCulloch brings a rare combination of global macro risk analysis, cyber strategy, and operational grit. From trading floors to turnaround jobs in small bu... Chapters (00:00:00) - Independence by Design: Business Valuation(00:03:41) - The State of SMB Businesses in the US(00:04:49) - How to Get More Out of Your Business(00:06:15) - In the Elevator With Carl McCulloch(00:07:01) - Small Business Owners: The 100 Million Club(00:12:47) - Small Business Owners: The 1% Truth(00:21:12) - SBA vs MSBA: Ownership Trap(00:24:03) - What Would Be the Options to Get Out of the Trap?(00:25:24) - Small Business Valuation(00:30:13) - Michael Glassman on the Exit Planning Environment(00:33:11) - Small Business Exit: Life-Changing(00:38:47) - Ryan Munroe on the Independence Flywheel(00:44:27) - Reasons to Retire Early vs. Investing in the Business(00:49:56) - Small Business: Is it futile for the 97%?(00:51:25) - Small Business Owners: How to Change Their Life(00:57:05) - 7 Steps to a Profitable Business(00:57:46) - No Owner Knows What the Advice Is Regarding 2%(00:58:43) - Is Exit Planning Necessary for Business Owners?(01:01:27) - The Challenges of Quantifying Your Market(01:04:25) - Small Business Owners: How to Make Their Business More Sustainable(01:10:09) - Coaching for the 98%(01:12:24) - How To Get From 170 to 350 Revenue(01:14:02) - What is a realistic expectation for what the market is going to require(01:15:02) - How Much Money Do You Need to Have to Win?(01:20:00) - Small Business Owners: The ESOP Misconceptions(01:22:25) - How to Get the 97% to Listen to the Right Message(01:30:28) - How to Get the Message Out About Eating Right and Exercise(01:31:27) - Eating Right and Exercise of Small Business Sales of Business Value(01:35:02) - Incentives for Business Advice(01:38:29) - Graham: Small Business Owners Need to Get Real(01:42:23) - Ownership and Exit Planning For The 2%(01:47:11) - Ryan on Cash Flow and the Business Cycle(01:48:42) - The Real Business Owners: Where Do You Sit?(01:52:28) - The 98% and their problems(01:56:36) - Biz Validate

If your goal is to run your company from the boardroom, the real work isn’t just stepping out of day-to-day operations. It’s making sure the business—and your wealth—are protected no matter what happens. In this conversation with attorney and deal advisor Jim Carlisle. Jim has guided hundreds of owners through sales, ESOPs, continuity crises, and legacy planning—and he’s seen what works, what destroys value, and what keeps owners up at night. We unpack how to think like a capital allocator while protecting your operating asset.  Watch on YouTubeThat means three things: 1. Estate readiness – ensuring your ownership transfers the way you want without value lost to taxes, infighting, or missed planning windows. 2. Business operations continuity – having a contingent operational plan so the company runs at full value if you’re suddenly out of the picture. 3. Market readiness – knowing your valuation through multiple lenses so you can seize a premium-price moment in the market without scrambling.  Jim shares real-world stories of owners who preserved 100% of their company’s value in a crisis—and others who watched it evaporate in weeks. We get into why continuity planning is different from estate planning, how to stress test your org chart, the role of fiduciary or advisory boards, and how to balance legacy, culture, and net proceeds when offers come in. If you want to keep control, protect what you’ve built, and be ready to move when your goals change or the market says “now,” this episode is your blueprint.  Jim Carlisle is a corporate attorney and entrepreneur with 34+ years of experience helping business owners achieve growth, succession, and exit goals. Chair of Dinsmore’s National Growth & Exit Planning and ESOP Transactional Services groups, he guides owners through M&A, ESOPs, estate planning, and business continuity. Drawing on his own ownership experience, he blends legal expertise with practical insight to protect value and preserve legacy.   Chapters:   (00:00) Newsletter launch, three lenses of business valuations overview, reconnecting with Jim Carlisle after shared consulting partnership  (04:34) Jim's practice focus on growth, exit planning and ESOP work  (08:25) Boardroom leadership versus selling and preparing for unexpected events  (13:50) Estate planning versus business continuity planning key differences  (18:15) Stress testing organizational structure and identifying critical leadership gaps  (25:00) Capital allocation mindset and three valuation lenses framework  (34:00) Real world story of engineering firm succession disaster  (42:06) Advisory boards versus fiduciary boards for succession readiness  (50:52) ESOP transactions and tax advantages for business owners  (1:00:28) Advisory fee inflation and serving mid market companies  (1:06:32) Deal structure gotchas and representation and warranty insurance  (1:13:26) Listening to clients versus telling them what you know Chapters (00:00:00) - Independence by Design(00:02:15) - Re reconnecting with Jim Wallis(00:04:23) - What Drives You?(00:08:57) - How to Help Your Client Plan Their(00:16:48) - How to Prevent(00:21:36) - Is a fiduciary Board Necessary for Business Owners?(00:23:36) - Should I Sell the Family Business?(00:29:59) - Are You Ready to Sell Your Company?(00:35:22) - Have Investment Bankers Got the Right Stuff For Companies?(00:38:49) - The Best Price for a Business Deal(00:40:48) - Exploring the Deal Structures(00:41:52) - How To Sell Your Business?(00:45:53) - ESOPs: Valuation(00:49:36) - EOSOPs and Private Equity(00:51:39) - ESOP vs. Non-ESOPs(00:56:46) - Advisory Fees: The Cost of Doing Business(01:01:29) - Bradley: On ESOPs and Qualifying Advisors(01:06:34) - SBA Loan: Decreasing the Fear(01:12:41) - Reputation and Warranty Disclosure Schedules(01:15:49) - Jim Dinsmoor on Meeting Business Owners

If you want to design a business that works for your life — not the other way around — you need to understand the actual game you’re playing. Watch on YouTube In this episode, I sit down with Candice Bradley, a business owner, investor, former banker, and strategic advisor who’s lived through nearly every ownership structure in the capitalist playbook: banking, investment banking, private equity, public markets, venture capital, and now private business ownership.  Candice doesn’t just know the rules of finance and business ownership — she’s played in every field. And in this conversation, she unpacks what most owners miss: the game isn’t just about money. It’s about the structure you choose, the bets you make, and whether those bets are actually worth your time.  We go deep into:  Why understanding valuation, risk, and cash flow is foundational to making good decisions as an owner  How different forms of ownership — from PE to VC to private — come with built-in expectations that shape your life  What happens when you finally see the system for what it is… and choose to design your own rules  And toward the end, we cut through the jargon and speak plain English: the fiat system is broken. Time is scarce. And if we’re not choosing our game and constraints consciously, they’ll be chosen for us.  This is a conversation for owners who are ready to lead with clarity — and design a business that gives them options, not just obligations.  Key Themes:  The connection between valuation and decision clarity  Why private owners must define their own timelines and targets  Tradeoffs between financial engineering and operational cash flow  Escaping fiat-based illusions and designing a game that actually works for your life    Who This Is For:  If you're an owner-operator who:  Is tired of gut-based decisions and wants a clear strategy  Feels the weight of every tradeoff between time, cash, and equity  Wants to understand how different financial models and ownership structures actually affect your freedom  ...this episode is for you.  Candice’s journey will help you see the full landscape — and start placing your bets with intention.  Candice Bradley is a 3x founder and seasoned operator with 20+ years across investment banking, private equity, venture, and entrepreneurship. She’s built and scaled businesses from both sides of the table — as investor and owner — and now helps founders navigate the tradeoffs of growth, cash flow, and exit. Her current focus: acquiring and operating a $15M+ company with intention and impact.   Chapters: <... Chapters (00:00:00) - Independence by Design Podcast(00:02:14) - Jumping In at Level 10(00:04:28) - How Did Your Parents Get Interest in Finance?(00:10:39) - Finance vs. Health: The Difference(00:13:46) - Cashing Out on Your Career(00:18:07) - Raymond James' Private Equity and Investment Banking Jobs(00:21:03) - George Conway on Financial Engineering vs Macro(00:25:51) - Private Equity and the Rest of Business(00:31:17) - On Gross Profit and VC Exporters(00:36:10) - Open Doors: The Business of Homebuying(00:37:43) - How to Make Money as a Public Company(00:40:35) - Private Equity vs. VC: Cash Flow(00:43:28) - In the Elevator With VCs(00:45:06) - Having Freedom Over My Time(00:47:22) - How To Change the Game(00:52:03) - Ideas for Starting a Business on a Mat Leave(00:55:38) - On the Time-based Wealth(00:57:43) - Ways of Betting on Growth(01:00:34) - On The Covid Rate Case(01:06:32) - Acquisition Entrepreneurs: The Market(01:09:01) - Dancing With the Market(01:09:24) - Talking To Kyle on the NFL(01:09:49) - The Job vs. Wealth Challenge(01:13:54) - Private Equity CEO on SBA vs. Financing(01:15:19) - SBA and Seller Financing(01:17:32) - Private Equity + ESOP: An ESOP(01:24:49) - Michael Saylor: The Bitcoin Investment Model(01:29:04) - Capital Returns and the Rationally Speaking(01:32:33) - On Candace's Freedom(01:34:43) - Re-thinking the Foundation(01:40:25) - In the Elevator With Elon Musk

If you’re trying to grow your business without creating a mess of misaligned incentives, resentment, or comp plans that backfire—this episode is for you. I brought Jennifer Davis back on because she built one of the most intentional compensation systems I’ve ever seen. We walk through how she tied her company’s mission and KPIs directly to each person’s comp—and connected it all the way down to their personal goals. We talk about cleaning up old promises, removing politics, and building a system that creates momentum instead of confusion. It’s tactical, practical, and deeply aligned with what we talk about in Independence by Design™—because comp is strategy. And when you get it right, everything gets easier. Watch on YouTube Jennifer Davis is the co-founder and former CEO of Davisware, a bootstrapped ERP platform scaled to over $20M in revenue and sold to private equity. She’s a tech entrepreneur, mom of 10, and author of two books including Living Exponentially. Now through her new venture BExponential, she helps growth-minded women lead with clarity and purpose. Her story blends grit, systems thinking, and a deep commitment to impact. Chapters:   (00:00) Introduction- guest Jennifer Davis  (04:19) The three assets that matter: brand, culture, customers  (26:31) The gap between expectations and reality  (30:24) Using a fake sale to rethink structure  (32:31) From firefighting to structure  (39:27) The pyramid: from brand to bonus  (53:47) The 80/20 bonus plan  (1:06:24) The timeline: clarity in two years  (1:26:48) Tying comp to life goals  (1:30:17) 100% KPI transparency  Rate, comment, and share with the owner/operators you know!    Resources: Jennifer's site: jenniferleedavis.com (consulting/retreats/book).  BExponential: bexponential.com (women's leadership).  Davisware: davisware.com (former ERP company).  Ryan Tansom Website https://ryantansom.com/

What if the success you're chasing isn't the final destination, but the beginning of something more? Watch on YouTube Most business owners I talk to know AI matters—but many are still stuck thinking it’s just for writing emails or something their IT team should handle. That’s not the game we’re playing.   In this episode, I sat down with Geoff Woods to talk about what it really means to become an AI-driven leader. We’re not talking about automation—we’re talking about thinking. Geoff and I break down how AI becomes your most powerful thought partner once you’re clear on your goals, your constraints, and your role as the owner. If you’ve been wondering how to actually integrate AI into your business at a strategic level, this conversation is for you.  We covered everything from the CRIT prompting framework to building executive-level AI boards, why most people struggle to think clearly, and how the education system trained creativity out of us. I also share how I’m using AI with my clients to build strategic plans, model out deals, and clarify ownership goals faster than ever before.  This episode is for the owner who wants to stay ahead—who’s ready to think bigger, make better decisions, and design a business that works without them.  Geoff Woods is the author of The AI-Driven Leader and the founder of AI Leadership. He previously co-founded the company behind The ONE Thing and served as Chief Growth Officer at Jindal Steel, where he helped grow its market cap from $750M to over $12B. Geoff teaches CEOs how to use AI as a strategic thought partner—not a task robot—so they can lead more effectively, make smarter decisions, and build companies that thrive in an AI-driven future. His frameworks, including CRIT and the AI Empowerment Curve, are helping leaders around the world operationalize AI from the boardroom to the frontlines.   Chapters:   (00:00) Geoff's career journey from CEO advice to AI leadership  (03:53) The One Thing company partnership and strategic questioning expertise  (06:50) December 2022 ChatGPT discovery and initial limiting beliefs  (08:35) CRIT framework development context role interview task methodology  (13:50) Strategic thinking as competitive advantage versus tactical approaches  (24:39) Industrial revolution education system and modern workforce implications  (34:47) Growth mindset versus fixed mindset in AI adoption  (38:39) Custom AI board creation for strategic business decisions  (44:41) Enterprise value focus versus tactical AI use cases  (54:34) AI-assisted book writing process and content creation  (1:06:02) Data privacy security and enterprise AI implementation  (1:13:26) Future of work and maintaining humanity in technology  (1:17:12) Zero to one implementation daily AI usage habits  Rate, comment, and share with the owner/operators you know!    Resources: 

What if the success you're chasing isn't the final destination, but the beginning of something more? Watch on YouTube This episode is the natural continuation of last week's conversation with Jean Moncrieff, the new leader of the Small Giants Community. But today, we go back to the source to get the full origin story of the Small Giants Community. I sit down with Paul Spiegelman, co-founder of Small Giants Community, to trace the full arc of a founder's journey: from building and selling BerylHealth to scaling a culture-first company within a public firm, to co-creating the Small Giants movement that has helped thousands of values-driven leaders build something that lasts.  What ties all of Paul's chapters together, from Beryl to Small Giants to Kintsugi Village, is a deep commitment to clarity, purpose, and process.  This isn't just a conversation about business, it's about designing a life that means something.  We talk about how values in a company often show up before we have the words for them, how the discipline of reflection creates repeatability, and how purpose, when acted on over time, turns into legacy.  Paul Spiegelman is the co-founder of Kintsugi Village and the Small Giants Community, and the former founder and CEO of BerylHealth. He also served as Chief Culture Officer at Stericycle, where he brought his people-first approach to a publicly traded company.  Paul is a New York Times best-selling author, Ernst & Young Entrepreneur of the Year, and a recognized voice on leadership, corporate culture, and values-driven business. His insights have been featured in the Wall Street Journal, Forbes, and Inc. Magazine. What sets Paul apart is his ability to live out what most leaders only talk about—building companies that align with values, operationalize culture, and last beyond the founder. Today, through Small Giants and Kintsugi Village, he helps steward a new generation of entrepreneurs who want to build with purpose—and chase something more than just growth. Chapters:   (00:00) Paul's path from law to entrepreneurship  (00:06) Building BerylHealth with brothers, bootstrapping without capital or business experience  (00:14) Meeting Bo Burlingham and discovering Small Giants philosophy  (00:26) Chasing purpose and the transition from BerylHealth to community building  (00:33) Selling to Stericycle and becoming Chief Culture Officer  (00:42) Defining culture as discipline, not fuzzy feelings  (00:52) Values-driven decision making and the circle of growth  (01:03) Transitioning leadership and passing the torch to next generation  (01:16) Kintsugi Village nonprofit and early childhood education mission  (01:25) Legacy, impact and what comes next in Detroit  Rate, comment, and share with the owner/operators you know!  Resources: Small Giants Community https://www.smallgiants.org Small Giants by Bo Burlingham

What does it actually mean to build a company that lasts? Watch on YouTube Not just one that grows. Not just one that sells. But one that thrives beyond the founder—because it was built with values at the core.  In this episode, I’m joined by Jean Moncrieff, an entrepreneur, coach, and the new leader of the Small Giants Community, for a conversation about identity, legacy, and the tension every owner eventually faces: when and how to let go.  We unpack the deeper reason Small Giants exists: to support leaders who want to build purpose-driven companies where people thrive, cultures endure, and success isn’t just measured by size. We also talk about what it means to scale values, not just revenue—and why Jean is uniquely positioned to carry this movement forward.  Whether you’re in the thick of operations or starting to imagine your next chapter, this episode will help you re-anchor to what matters most—and show you that you’re not alone in the process.  Jean Moncrieff is an entrepreneur, coach, and the current leader of the Small Giants Community—a global network of values-driven founders committed to building purpose-first businesses that prioritize people, culture, and long-term impact. Jean’s own journey includes founding, scaling, and exiting multiple 7- and 8-figure companies across Europe and South Africa. But what defines his work today is helping leaders clarify their vision, let go with intention, and grow companies that outlast them—not just operationally, but culturally and philosophically. Based in Zurich, Jean splits his time between Europe, the U.S., and South Africa, where he continues to coach CEOs, foster authentic community, and guide the next chapter of Small Giants with the same values that made it what it is.   Chapters:   (00:00) Introduction and Jean's journey from business owner to Small Giants leader  (01:14) What is Small Giants and the rebellious philosophy behind it  (07:25) The vulnerability and mojo that defines the Small Giants community  (14:20) The founder's dilemma: letting go without losing identity  (25:50) Scaling culture with intention and putting people first  (32:36) Why employee ownership correlates strongly with Small Giants values  (41:15) Why Jean stepped into the leadership role at Small Giants  (52:30) What it really means to build a company that lasts  (58:58) The future of Small Giants: global expansion and leadership development  (01:07:38) How to engage with Small Giants and join the community  Rate, comment, and share with the owner/operators you know!  Resources: Small Giants Community https://www.smallgiants.org/ Small Giants by Bo Burlingham https://www.amazon.com/Small-Giants-Companies-Instead-10th-Anniversary/dp/014310960X Jean Moncrieff on LinkedIn

This episode is different. No guest. No business mechanics. Just me, reading from my journal and unpacking the questions that have been driving my work, my life, and everything behind Independence by Design™. Watch on YouTube A few questions have been front and center for me since my first memories. Why are we here? What’s the point of all this work? And how do money, time, biology, and spirituality all fit together? If you’ve ever wondered why I care so much about alignment, ownership, and how we spend our time, this is the foundation. This is the throughline behind the Playbook, the coaching, the podcast… all of it. I talk about:  Why constraints make life meaningful How dopamine, purpose, and sacrifice tie into love, fear, and fulfillment What sin actually means (and why it’s about missing the highest aim) Why money is just stored time—and how corrupt money corrupts life And how the ultimate game is to turn chaos into clarity, and help the most people we can, for the longest time we can If you’re on your own journey of trying to make your life and business make sense, this episode is for you. It’s not doctrine. It’s not advice. It’s a flashlight into the questions I’ve been living through.  Chapters:   (00:00) Why this episode exists and intention behind journal reading   (05:30) The game of life: constraints, relativity, and physical world   (13:15) Love, fear, and the aim of life   (22:00) The role of sacrifice and work in creating meaning  (29:00) What money really represents and inflation's spiritual impact   (36:45) Designing a life that works and final reflections  Rate, comment, and share with the owner/operators you know!    Resources:  Ryan Tansom Website: https://ryantansom.com/

Jennifer Davis is the co-founder and former CEO of Davisware, a vertical ERP platform she and her husband started at 17. Over two decades, they scaled it to $20M+ in revenue, built a team of over 200, and sold to private equity. She’s also the mother of ten kids and the author of two books, including Living Exponentially. Watch on YouTube In this conversation, Jennifer walks us through the full arc of building, leading, and eventually stepping away from a company she built from the ground up. We talk about the early growth years, the identity shift from founder to CEO, what she learned inside private equity, and how she’s now designing her next chapter with clarity and intention.  Jennifer Davis is the co-founder and former CEO of Davisware, a bootstrapped ERP platform scaled to over $20M in revenue and sold to private equity. She’s a tech entrepreneur, mom of 10, and author of two books, including Living Exponentially. Now, through her new venture BExponential, she helps growth-minded women lead with clarity and purpose. Her story blends grit, systems thinking, and a deep commitment to impact.  Chapters:   (00:00) Introduction and Jennifer's "Gen 2.0" mission statement at age 50  (07:10) Starting Davisware at 17, meeting husband on Grapevine Lake boat  (14:19) Family farm background, sixth of nine kids, entrepreneurial roots  (19:31) India outsourcing journey, Dan spending 200 days there  (24:03) First major acquisition in 2007, saving competitor with cash bag  (27:48) Selling to private equity in 2019, COVID leadership as portfolio CEO  (34:09) Land development disaster, 80-acre subdivision bankruptcy and banking crisis  (41:08) Bank president meeting, driving three hours for personal negotiation  (52:44) Separation of business and personal finances, ownership mindset lessons  (74:30) Life integration philosophy, writing book and exponential mindset framework  Rate, comment, and share with the owner/operators you know!    Resources: Jennifer Davis: https://www.itsjenniferdavis.com/ Davisware: https://www.davisware.com Ryan Tansom Website: https://ryantansom.com/  

What’s happening in the M&A market right now? Who’s buying, who’s selling, and how should owners think about timing, value, and optionality? Watch on YouTube In this episode, I sit down with Jeff Buettner from ButcherJoseph, an investment banker who specializes in founder-led companies in the lower middle market. We unpack the current state of dealmaking for $2M to $10M EBITDA businesses and talk candidly about what’s really driving—or stalling—transactions in today’s environment.   We cover everything from deal structure, buyer behavior, and interest rate dynamics to why some owners are stuck in “no man’s land” between SBA buyers and private equity funds. Jeff shares the patterns he sees across the market and what business owners can do right now to improve their position and expand their options, even if they’re not ready to sell.  Whether you're prepping for an exit, considering a recap, or just want to understand what drives valuation and interest in the middle market, this episode gives you a grounded, experience-backed view into what's working—and what’s not—in M&A today.   This conversation ties directly into the Elevate phase of the iBD™ Magic Model—helping owners increase strategic value, attract aligned capital, and design a business that’s ready for optionality.  Jeff Buettner is a Managing Director at ButcherJoseph, where he works with owner-led businesses exploring recapitalizations, ESOPs, and strategic exits in the lower middle market. With deep experience across private capital markets, investment banking, and founder transitions, Jeff specializes in helping owners navigate complex deal dynamics while maintaining control and clarity. He is known for his honest, practical approach and his ability to bridge the gap between what founders want and what the market will support.  Chapters:   (00:00) Welcome to Independence by Design with guest Jeff Buettner  (00:34) Current M&A market trends and tariff impact conversations  (02:23) How uncertainty stopped transactions and lending activity cold  (05:52) Finding pockets of certainty in volatile deal environments  (09:28) Strategic versus financial buyers in tariff-impacted markets  (14:02) The five million EBITDA threshold and why it matters  (25:24) Navigating the no man's land of middle-market businesses  (33:31) Building management teams and reducing owner dependency risk  (36:40) Strategic planning three years ahead for better outcomes  (40:18) When to engage investment bankers for maximum value  Rate, comment, and share with the owner/operators you know!    Resources: ButcherJoseph: https://www.butcherjoseph.com Jeff Buettner LinkedIn https://www.linkedin.com/in/jeff-buettner-8839432/ Ryan Tansom Website

Most owners rely on gut instinct, advisors, or market trends to make decisions, but few stop to ask: What’s actually happening underneath the economy? Watch on YouTube In this episode, I’m joined by Joe Brown—creator of Heresy Financial—for a macroeconomic breakdown that actually makes sense for business owners. We unpack inflation, interest rates, debt cycles, and monetary distortion in plain English, then connect those insights directly to the decisions owners are making around growth, liquidity, and long-term wealth.  This isn’t about timing the market. It’s about understanding the rules of the game you're playing. Whether you’re holding cash, thinking about M&A, or planning for an exit, this episode helps you zoom out, think in first principles, and protect the future you’re building.  Joe Brown is the founder of Heresy Financial, a YouTube channel and financial education platform that helps people understand how the economy really works. With millions of views and a growing audience of investors and entrepreneurs, Joe translates complex monetary policy, debt cycles, and macro trends into simple frameworks for decision-making. His contrarian, first-principles approach is trusted by those who want to protect their time, value, and wealth in a system built to extract them.   Chapters:   (00:00) Introduction and why macroeconomics matters to business owners  (03:17) The big shift from monetary to fiscal policy  (11:40) The fiat system is built on debt dynamics  (21:39) Owning productive assets is the best hedge strategy  (35:17) Energy deregulation as fundamental economic growth lever  (46:20) How to think about capital allocation in this environment  (53:11) Navigating an era of uncertainty with clarity  (58:34) What this means for valuations and exit timing  Rate, comment, and share with the owner/operators you know!    Resources: Heresy Financial YouTube Channel https://www.youtube.com/c/HeresyFinancial Ryan’s article on “How the System Steals Your Time” https://www.youtube.com/watch?v=lRUiyZNVrmA Ryan Tansom Website https://ryantansom.com/  

We’ve all heard it: “Pick one thing. Focus. Go all in.” But what if that advice doesn’t apply once you’ve built real optionality?  Watch on YouTube In this episode, I’m joined by Mark Cleveland—an experienced entrepreneur, investor, and self-described parallel entrepreneur—to rethink how owners can design the next chapter of life. Instead of scaling endlessly or exiting just to feel free, Mark shows how business can be a platform to fund the life you actually want. Not someday—now.   We unpack how to reclaim your time, align your ventures with your values, and stop optimizing for someone else’s scoreboard. If you’ve built a successful company but feel boxed in by what comes next, this episode is a wake-up call. You don’t need to sell to find meaning. You need clarity, ownership, and the courage to design your future on purpose.  Mark Cleveland is a lifelong entrepreneur, investor, and business builder who’s launched and led multiple companies across industries—from logistics to retail to software. Rather than optimizing for scale or exits, Mark intentionally structures his ventures around what gives him energy, purpose, and time with his family. His philosophy flips the default growth narrative and shows that the real prize of entrepreneurship isn’t scale—it’s alignment.   Chapters:   (00:00) Introduction and guest welcome through Dan Golden connection  (02:58) The parallel entrepreneur mindset rejecting the one business rule  (14:42) What fulfillment looks like after buying back your time  (26:49) Using business structure to fund curiosity and personal growth  (37:41) Constraining growth by choice and turning down capital  (46:23) Designing around your values, not the market's expectations  (55:26) Framework versus goals for flexible decision-making structures  (01:03:00) Optionality without exit and designing the next chapter purposefully  Rate, comment, and share with the owner/operators you know!   Resources: Mark Cleveland on LinkedIn https://www.linkedin.com/in/markhcleveland/ 37signals – calm company inspiration https://37signals.com/ Ryan Tansom Website https://ryantansom.com/

If you're running a mid-sized company and considering acquisitions—or you just want to understand how smaller companies get valued—this episode is for you. Watch on YouTube I sat down with Clint Fiore, a business broker who’s helped hundreds of Main Street businesses try to sell. And here’s the truth: most of them don’t get what they want. Not because their business is bad—but because it’s not built to be bought.  We break down what actually happens when a $1–5M owner tries to exit: how they think, what they miss, and what buyers really see when they dig into the financials. Along the way, we talk through working capital expectations, earn-outs, founder dependency, and how to structure a deal that actually works.  If you’re thinking about buying a business to grow—or you want a better understanding of how the lower market operates—this episode will give you the lens of a buyer and the clarity of someone who’s seen it all.  Clint Fiore is the founder of Bison Business, a boutique M&A advisory firm that helps owners sell their companies and buyers find the right opportunities in the lower middle market. With experience as both an entrepreneur and a broker, Clint has built, scaled, and sold companies—and now helps others do the same. He’s personally advised on hundreds of deals, from owner-operated shops to more complex transactions, and he knows what buyers care about: clean financials, transferable operations, and a clear path to post-close success. Before founding Bison, Clint built and exited a national consumer brand, led sales in high-growth tech, and served aviation clients as a top commercial broker. In addition to leading Bison, Clint is developing Dealonomy—a new platform designed to modernize the small business deal marketplace by combining tech, transparency, and relationship-based brokerage. He’s also a private pilot, father of four, and a lifelong entrepreneur who brings a grounded, no-BS perspective to buying and selling businesses.   Chapters:   (00:00) Introduction and catching up with Clint Fiore's remarkable journey  (01:28) From aviation dreams to entrepreneurship through insurance industry insights  (12:24) The business brokerage pivot and learning deal complexity firsthand  (21:04) Creating the hundred million dollar offer and zero commission model  (28:04) SDE versus EBITDA and the harsh realities of main street valuations  (38:30) Compassionate bubble bursting and managing seller expectations realistically  (50:15) The whale shark strategy for acquisition and market consolidation  (01:03:18) Launch of Deal Nominee platform and the future of business transactions  Rate, comment, and share with the owner/operators you know!    Resources:  Bison Business Brokers – http://lackbeltmembers.com  Clint’s LinkedIn - https://www.linkedin.com/in/clintfiore/  Ryan Tansom Website

You’ve probably heard that business valuation is more art than science. But what if the art is just smoke and mirrors—and the science has been hiding in plain sight all along? Watch on YouTube In this episode, I’m joined by Graham Stephen and Kyle McCulloch, the team behind Bizval, a company that’s quietly building a tool that may completely disrupt how business owners understand valuation. What makes it so revolutionary? Instead of retrofitting a formula to outdated tax returns or jargon-filled reports, they’re prompting you—the owner—to answer operational questions you already know, then reverse-engineering a legit three-statement model and discounted cash flow (DCF) valuation from that data.  Most valuation tools ignore cash flow and future risk. Bizval centers it. Instead of proxies, you're getting clarity. If you’ve ever been told your business is worth “4–6x EBITDA” and felt like that answer didn’t mean anything—you’re going to love this conversation.  We go deep into:  Why traditional valuation approaches are built to protect advisors, not serve owners.  How Bizval helps you forecast future cash, so you can make better decisions—whether you’re selling, scaling, or holding.  Why your business might be the most inflation-resilient investment you own.  If you’re serious about building value and taking control of your financial future, this is a must-listen.   Graham Stephen is a former banker and chartered accountant turned entrepreneurial strategist. After witnessing firsthand how the traditional financial system fails owner-operators, he co-founded Bizval to bring clarity, simplicity, and first-principles thinking to the messy world of valuation. His work helps owners understand their true worth—not just on paper, but in cash terms they can act on.  Kyle McCulloch brings a rare combination of global macro risk analysis, cyber strategy, and operational grit. From trading floors to turnaround jobs in small businesses, Kyle has built a toolkit that allows him to connect the dots between world events, business systems, and cash flow forecasting. He now helps Bizval clients tie strategy to risk-adjusted value so they can play the right game—and win.  Chapters:   (00:00) Introduction and guest backgrounds from Ryan Tansom  (01:24) Graham's journey from banking to entrepreneurship and Bizval's genesis  (12:40) Kyle's path from Wall Street dreams to risk management expertise  (21:43) Why traditional valuations are broken and cash flow is king  (35:00) Graham's five-step valuation process that actually works  (50:00) Forward-looking forecasts and scenario planning for owners  (01:05:00) The macroeconomic reality changing how we value businesses  (01:20:00) Why this approach changes the game for owners  Rate, comment, and share with the owner/operators you know!   Resources:  Graham Stephen https://www.linkedin...

What happens when the business you built no longer protects you from the parts of yourself you've been avoiding? Alex McClafferty co-founded and sold WP Curve to GoDaddy—but it wasn’t until after the exit that he found himself face-to-face with an identity crisis, emotional collapse, and a brutal confrontation with his shadow self. Watch on YouTube In this raw and wide-ranging conversation, we talk about what it means to lose your sense of self after a big win, why so many entrepreneurs use their businesses to avoid personal pain, and what it takes to rebuild meaning, discipline, and alignment from the ground up. Alex opens up about the cost of constantly chasing validation, what really drove his burnout, and how he’s since redefined success by giving, not proving.  We also dive into the addictive energy that fuels many high performers, the hidden danger of unresolved ambition, and the path toward true integration—not just surface-level wellness. If you’ve ever felt like your business is both your escape and your identity, this one will hit deep.  Alex McClafferty is the co-founder of WP Curve, which was acquired by GoDaddy in 2016. Post-exit, he went through a full-on personal breakdown that became a catalyst for deep transformation. Today, he coaches founders to scale without losing their marbles—bringing sharp insight, deep compassion, and zero bullshit. With firsthand experience of what it means to lose your identity to your business (and rebuild from the inside out), Alex helps entrepreneurs find clarity, integration, and purpose on the other side of success. Chapters:   (00:00) Introduction - Alex McClafferty  (07:00) Facing the shadow: psychedelics, identity, and emotional breakdowns  (15:00) Why you can't skip steps in personal transformation  (24:00) Burnout, validation, and chasing pressure for its own sake  (32:30) Coaching, impact, and redefining work around giving  (41:10) Integration, timing, and compassion for self and others  (49:00) Dopamine, addiction, and noble aims  (57:00) Control, ego, and how goals can either heal or harm you  (1:04:00) Truth, timing, and the slow process of rebuilding from the inside out  (1:12:00) What Alex would tell his 2016 self—and what he's learned since  Rate, comment, and share with the owner/operators you know!  Resources: Alex McClafferty LinkedIn: https://www.linkedin.com/in/alex-mcclafferty/ IBD Owner’s Scorecard: Time, Cash Flow, Equity trade-offs https://ryantansom.com/clarify-goals Independence by Design™ Workshop: https://ryantansom.com/independence-by-design-workshop  Independence by Design™ Ownership Coaching: Ryan Tansom’s Ownership Accelerator programs and coaching https://ryantansom.com/coaching 

What really happens when an entrepreneur sells their business? For John Rood, it was the start of a deeply personal reckoning with identity, purpose, risk, and time. In this episode, we go beyond the typical exit story and talk about what it actually feels like to step away from the company you built—and what comes next when you’re no longer busy, no longer needed, and no longer sure what’s next.Watch on YouTube  John is the author of Beyond the Exit, a book that captures the stories and lessons of dozens of founders who’ve exited their companies and found themselves struggling to rebuild meaning and structure in their lives. In this conversation, we talk about the psychology of letting go, why retirement is a myth, and how most owners get trapped by the very businesses they created—even long after a liquidity event.We also dig into the false choices entrepreneurs are sold (retire or keep grinding, sell or stay), and how to reclaim your time and purpose without blowing up your identity. If you’ve ever wondered what the other side of a successful exit really looks like, this conversation will change how you think about freedom.Key Takeaways for Owners - Exit isn’t about the check—it’s about who you’ll be when the job title is gone. - You can’t plan your next chapter after the LOI. You have to start before you even think about selling. - Most owners underestimate how much identity, relevance, and momentum come from their business.- Purpose after the exit won’t show up on its own—you have to design it. - Time is your most valuable asset—but only if you know how you want to spend it. John Rood is the author of Beyond the Exit, a book that explores what really happens to founders after they sell their companies. Drawing from interviews with over 200 post-exit entrepreneurs, John dives deep into the emotional, strategic, and philosophical side of life after business ownership. He previously built and sold a successful marketing company and now coaches a select group of founders on how to navigate the messy middle between liquidity and meaning. His perspective is rooted in experience and research—and he's one of the clearest voices on what freedom, relevance, and contribution look like after the deal closes. Chapters:  (00:00) Reconnecting with John: Life and identity 4 years post-exit (07:00) The identity crisis and status shift entrepreneurs face after selling (14:00) Why planning your post-exit life must happen before the LOI (21:00) Liquidity concerns and risk assessment: Why timing matters for exits (28:00) Time, cash flow, and wealth: The three constraints of business ownership (35:00) Finding purpose and contribution beyond the busi...

This episode is fire. Elliott Holland is a straight shooter who has seen hundreds of deals from every angle—searcher, investor, operator, and QofE provider. In this conversation, we cut through the noise to talk about what’s really going on in the acquisition market, why most self-funded searchers fail, and how owners can actually position their business (and themselves) for the next chapter.  Watch on YouTube  We dig into why most companies don’t cash flow the way owners think they do, how the wrong expectations destroy good deals, and what it takes to bridge the gap between buyers and sellers. Elliott shares what he’s seeing across the market through his firm Guardian Due Diligence, why real cash matters more than reported EBITDA, and what kind of leaders are needed to keep growing Main Street businesses when the owner steps away.   Whether you're trying to step back, prepare for an exit, or find the right leader to replace you, this episode reframes how to think about buyers, successors, and what actually makes a company valuable in today's market. It's a must-listen if you're planning your next move—or still figuring out what it should be.  This conversation ties directly into the Elevate phase of the iBD™ Magic Model—helping owners replace themselves, build strategic leadership, and unlock true independence across time, cash flow, and equity.  Key Takeaways  - Cash is king, not EBITDA. Owners need real cash flow clarity before thinking about transitions, exits, or valuations.  - Searchers aren’t the enemy—they’re the key. When structured properly, acquisition entrepreneurs may be the best shot at long-term succession.  - The traditional brokered exit path is broken. Creative deal structures, mentorship windows, and phased transitions are underutilized but powerful.  - Risk must be shared. Deals fall apart when expectations aren’t aligned and buyers are asked to shoulder too much risk without support.  - Succession planning starts now. The sooner you clean up your numbers and clarify your leadership gap, the more optionality you’ll create.   Elliott Holland is the founder of Guardian Due Diligence, where he helps acquisition entrepreneurs avoid lemons and close deals with confidence. He’s reviewed hundreds of financials, run his own deals, and coached dozens of buyers through the self-funded acquisition gauntlet. Elliott’s no-BS approach cuts through bad data, bad deals, and bad advice—and his coaching programs help real operators buy real businesses the right way. With deep roots in private equity, small business ownership, and financial diligence, Elliott brings the rare perspective of someone who’s seen both sides of the table and knows what it really takes to succeed.   Chapters:   (00:00) How Elliott built a seven-figure business with zero employees  (06:05) SBA loan changes and their impact on the acquisition market  (08:52) US business landscape: key market statistics and buyer-seller dynamics  (13:18) Small business valuations vs retirement needs: the math problem  (17:55) Signal vs noise: cutting through marketing hype in entrepreneurship  (21:15) Cash vs EBIT...

Most business owners are exhausted by marketing that feels like a black box—random tactics, disconnected agencies, and no clear ROI. Kim Clark knows that pain—and she’s built the solution. As the former head of sales and marketing at ITR Economics, Kim helped transform the business from a founder-led consulting firm into a scalable company that exited at eight figures—without relying on Brian or Alan Beaulieu to drive growth. She didn’t just market a product—she built a fully integrated inbound system and tied every activity to measurable outcomes like revenue, value, and cash flow.  Watch on YouTube  In this episode, Kim and I break down the system she used to do it. We walk through how to structure your sales and marketing around your actual business model, how to build a funnel that produces qualified leads, and how to track every activity back to business impact. Kim shares how one of her recent campaigns drove $1.3M in attributable revenue—and why she could track it all the way back to specific marketing activities.    If you’ve ever wondered what a real marketing engine looks like—or how to finally get clarity between sales, marketing, and your growth goals—this is the blueprint. It directly supports the "Maximize Growth" pillar under Build a Valuable Business inside the iBD™ Magic Model.   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) Introduction of guest Kim Clark, discussion of her marketing background  (04:09) Paid social ads and effective marketing spend alternatives  (08:56) Starting with assessment in the marketing playbook process  (14:41) The early days: no CRM, no strategy, just Excel sheets and binders  (19:47) Measuring and tracking marketing efforts with proper benchmarks  (24:36) Understanding customer psychology through developing buyer personas  (32:05) Using rolling 12-month data to analyze marketing performance trends  (35:16) Connecting funnel stages to real metrics, cash, and value  (43:56) Creating nurture campaigns and interview-based content development  (47:38) Why automation, content, and tools don't matter without strategy  (49:47) Click-through rates and developing content that drives action  (54:05) Content cadence and campaign structure for sustainable growth  (59:22) Value-focused content that addresses specific customer pain points  (1...

This episode sets the bar. Pat Hobby, my former business partner, is one of the best CFOs I’ve ever worked with. He’s not just a CPA or an operator—he brings an investor mindset and decades of experience managing financials with the purpose of building long-term value. In this conversation, we break down exactly what a business owner should expect from a high-performing CFO—and why most don’t even know what that standard looks like. Watch on YouTube  We cover the difference between accounting and finance, what good financials actually look like, and why clean books are just the beginning. Pat walks through how to build an effective monthly reporting package, how to integrate the three financial statements, what capital allocation looks like when it’s done well, and how to run a value gap analysis that ties directly to the owner's long-term goals.   If you’ve ever wondered what your CFO should really be doing—or what financial clarity should actually feel like—this episode is your blueprint. This is the gold standard.  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:   (00:00) Why this episode matters for every owner   (07:45) Pat’s journey from CPA to CFO with an investor mindset  (08:07) Strategic partnership between CFOs and business owners  (12:00) Importance of clean financial statements for decisions  (15:36) CFO roles versus controller responsibilities and paths  (22:29) Developing accurate monthly budgeting and forecasting  (31:31) Balance sheet: foundation for accurate financial reporting  (38:40) Normalized EBITDA and understanding true business value  (43:41) Annual budgeting, forecasting, and managing trade-offs  (1:07:11) Long-term planning, value creation, and independence  Rate, comment, and share with the owner/operators you know!    Ryan Tansom is a seasoned entrepreneur, speaker, and the founder of Independence by Design™, a transformative ownership framework for growth-oriented business owners. After turning around and selling his family business in an eight-figure exit, Ryan spent over a decade dissecting the lessons learned from his journey. His mission is to help other business owners avoid the pitfalls he encountered by providing them with the tools and knowledge to align their business operations with their personal and financial goals.  With a deep understanding of the challenges faced by owner-operators, Ryan developed Independence by Design™ to empower owner-operators to create sus...