Business RadioX ®

Employee Ownership as an Exit Path, with Megan Gordon

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Employee Ownership as a Practical Exit Path, with Megan Gordon, Project Equity (The Exit Exchange, Episode 28) with host John Ray
North Fulton Studio
Employee Ownership as an Exit Path, with Megan Gordon
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Employee Ownership as a Practical Exit Path, with Megan Gordon, Project Equity (The Exit Exchange, Episode 28) with host John Ray

Employee Ownership as a Practical Exit Path, with Megan Gordon, Project Equity (The Exit Exchange, Episode 28)

In this episode of The Exit Exchange, host John Ray welcomes Megan Gordon, Senior Manager of Business Engagement and Partnerships at Project Equity, to discuss employee ownership as a succession option that more business owners and their advisors should have on their radar.

Megan opens with a sobering set of numbers: only about 30% of businesses transition within families, and only about 20% of those listed on the open market actually sell. That leaves half of all small businesses without a clear exit path. For many owners, the default assumption is to strip the business for parts and shut it down, which creates a bad outcome for the owner, the employees, and the community alike. Project Equity exists to offer a different answer: sell the business to the employees, using a leveraged buyout structure that gets the owner a fair market price without requiring employees to come up with the purchase price themselves.

John and Megan walk through what makes a business a viable candidate for this kind of transition, the three forms of employee ownership (ESOPs, worker cooperatives, and employee ownership trusts), how partial and progressive sales work, and how owners can pace their exit rather than being forced out the day after closing. Megan also shares that Project Equity has specific funding and focus in Georgia and that she will be presenting at an XPX Atlanta event on July 14, 2026.

The host of The Exit Exchange is John Ray, and the show is produced by John Ray and North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

  • Only about 30% of small businesses transfer within a family, and only about 20% of those listed on the open market actually sell, leaving half of all small business owners without an obvious exit. Employee ownership is a viable path that most owners and advisors have never seriously considered.
  • Project Equity structures these transitions as leveraged buyouts, meaning employees do not have to pay out of pocket to acquire the business. The business takes on debt to fund the purchase, typically paid off over five to seven years, and the owner receives a fair market price generally in the range of 2.5 to 5X EBITDA.
  • There are three distinct forms of employee ownership: the ESOP (a retirement-plan vehicle best suited to larger companies), the worker cooperative (a one-vote, one-share opt-in model), and the employee ownership trust (a newer form in the U.S. where shares are held in a perpetual trust for the benefit of all employees).
  • Owners concerned about confidentiality can go through Project Equity’s full feasibility study — a three-to-four-month financial and management analysis, before employees are ever informed. The owner controls if and when employees are brought into the conversation.
  • Employee ownership transitions offer flexibility that third-party sales typically do not: owners can sell a partial stake, structure progressive tranches, and pace their own operational exit rather than walking away immediately at closing.

Topics Discussed in this Episode

00:24 Why employee ownership deserves a serious look as an exit path
01:56 Introduction to Megan Gordon and Project Equity
03:10 The “Silver Tsunami” and what happens to businesses without a clear exit
04:57 How a leveraged buyout funds the transition without requiring employees to pay
06:37 Why advisors overlook this option, and what Project Equity is doing about it
09:09 How Project Equity enters the process: working with owners, advisors, or both
10:38 What makes a business a viable candidate for employee ownership
13:42 Owner concerns about confidentiality and Project Equity’s four-stage process
17:05 The three forms of employee ownership: ESOPs, worker cooperatives, and EOTs
20:35 Pricing, fair market value, and how earn-outs work
22:45 Partial sales, family retention, progressive transitions, and pacing the exit
26:27 Project Equity’s focus in Georgia and how to connect with Megan

Megan Gordon, Project Equity

Megan Gordon is Senior Manager of Business Engagement and Partnerships at Project Equity. She brings experience across food, hospitality, biotechnology, and coworking sectors, with a background in sales, marketing, and customer service. Her day-to-day work centers on advising small business owners and assessing pre-viability for a fair market sale into employee ownership as a succession strategy.

Project Equity is a national nonprofit, founded in 2014, working to harness the power of employee ownership to give business owners an accessible succession path, preserve legacy businesses, strengthen local economies, and build wealth among workers. The organization raises awareness about employee ownership as an exit strategy, provides hands-on consulting and capital, and offers accredited continuing education for business advisors. Project Equity also has specific funding and focus in Georgia, with Megan serving as the primary point of contact for Georgia business owners and advisors.

Website | Megan Gordon on LinkedIn | Project Equity on LinkedIn | Facebook | Instagram

The Exit Planning Exchange Atlanta

The Exit Planning Exchange Atlanta (XPX) is a diverse group of professionals with a common goal: working collaboratively to assist business owners with a sale or business transition. XPX Atlanta is an association of advisors who provide professionalism, principles, and education to the heart of the middle market.

Their members work with business owners through all stages of the private company life cycle: business value growth, business value transfer, and owner life and legacy. Their vision: to fundamentally change the trajectory of exit planning services in the Southeast United States. XPX Atlanta delivers a collaboration-based networking exchange with broad representation of exit planning competencies. Learn more about XPX Atlanta and why you should consider joining our community by following this link.

The host of The Exit Exchange is John Ray, and the show is produced by North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®, in Alpharetta. The show archive can be found by following this link.

John Ray Co. is a Gold Sponsor of XPX Atlanta.

The Exit Works and Prayers & Blessings

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BRX National
BRX National
The Exit Works and Prayers & Blessings
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Steven Nootbaar & Mark Tyson

Steven Nootbaar | The Exit Works

Steven Nootbaar spent eight years as the operational backbone of a Florida insurance agency. As the “Wearer of Many Hats,” he worked directly alongside the owners: processing commissions, building the analytics infrastructure, heading customer service, monitoring compliance, and serving as a rapidly-evolving Chief of Staff. When commission statements didn’t match his records, he pulled three years of statements and audited each one. The net: over $1 million in unpaid commissions. Florida Blue paid before inviting Steven to meet their analytics head. The agency grew to become the #1 Florida Blue General Agency, and the owners had a successful exit through acquisition, having built the kind of company someone would want to buy. He had been the single point of failure in that business for most of its growth. In removing that dependency from the owners, he learned how to remove it from himself.

Mark Tyson | Prayers & Blessings

At Prayers & Blessings, our mission is to inspire and uplift through faith-based lifestyle products. We believe that every piece of apparel can serve as a reminder to walk in faith and embrace a positive mindset.

HR Issues That Derail a Business Exit | Cindi Filer

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Cindi Filer, Innovative Outsourcing, on HR Issues That Derail a Business Exit (The Exit Exchange, Episode 27) with host John Ray
North Fulton Studio
HR Issues That Derail a Business Exit | Cindi Filer
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Cindi Filer, Innovative Outsourcing, on HR Issues That Derail a Business Exit (The Exit Exchange, Episode 27) with host John Ray

Cindi Filer, Innovative Outsourcing, on HR Issues That Derail a Business Exit (The Exit Exchange, Episode 27)

In this episode of The Exit Exchange, host John Ray welcomes Cindi Filer, Founder and CEO of Innovative Outsourcing, to talk about why HR is so often the last thing business owners think about and why, when it comes to an exit, it can be the thing that unravels the whole deal.

Cindi makes the case that HR is not just a compliance checklist but a people strategy and that most small businesses have never treated it as one. She and John walk through the specific traps owners fall into: employees misclassified as exempt who were never owed overtime, 1099 contractors who should have been W-2 employees all along, I-9 documentation that nobody can locate, and attrition rates that look healthy on paper but mask a workforce full of employees no one has had the courage to let go. A buyer doing due diligence will find all of it and will discount the purchase price heavily, far more than the dollar value of the problem itself.

The host of The Exit Exchange is John Ray, and the show is produced by John Ray and North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

  • Most small businesses have someone doing HR who has no HR background — a controller, an executive assistant, or the owner — and that gap compounds over time. By the time a company is heading toward an exit, the problems are usually larger than anyone realizes.
  • A buyer is not just buying numbers. When comparing two businesses with similar financials, a buyer will pay a higher multiple for the one with organizational health: trained leaders, documented processes, an engaged workforce, and a clean compliance record.
  • Misclassification of workers, whether exempt vs. non-exempt or employee vs. 1099 contractor, is one of the most common and costly HR errors found during due diligence. Back wages, fines, and reclassification costs can all become liabilities the buyer inherits, and they will price accordingly.
  • An HR Assessment and Roadmap, essentially an HR audit done well before going to market, gives a seller time to fix problems and produce a third-party evaluation of HR health that buyers find credible.
  • Artificially low employee salaries can look like a cost advantage but are actually a future liability. If employees leave during or after the transition and must be replaced at market rates, profitability projections fall apart fast.

Topics Discussed in this Episode

00:24 Cindi Filer and Innovative Outsourcing: what they do and who they serve
02:23 The sweet spot for fractional HR: companies from 4 to 60 employees
04:06 When to start thinking about HR in the context of exit planning
05:45 Why HR gets the short straw from day one, and the gap that never closes
07:55 HR Compass: making fractional HR affordable for the smallest businesses
09:20 Risk miscalculation: why owners don’t know what they don’t know
10:30 The aggregation trap: multiple companies, one owner, one threshold
11:10 The cost of non-compliance: fines, back wages, and the I-9 example
12:40 Two hours a month on organizational health: Cindi’s standing advice to CEOs
14:00 Attrition rates can lie: the difference between low turnover and a healthy workforce
15:45 Why buyers pay more for organizational health, not just good numbers
17:30 The people-are-the-numbers argument: workforce as both asset and liability
18:45 1099 misclassification and what it looks like in due diligence
20:30 What the engagement looks like when Innovative Outsourcing comes in pre-exit
22:00 The HR Assessment and Roadmap: the house inspection analogy
24:00 Buyers need a story, not just financials: making the case for HR health
25:30 The most common HR traps: exempt/non-exempt misclassification
27:15 When misclassification derails a sale at the last minute
28:30 Personal liability for owners: when it goes beyond the business
30:00 Golden handcuffs and succession planning: keeping people through a transition
31:00 Below-market salaries as a hidden liability for buyers
36:00 Buttoned-up HR as a signal of overall business quality
37:30 A success story: the six-employee health company that exited well

Cindi Filer

Cindi Filer is Founder and CEO of Innovative Outsourcing, which she started in 1994 after leaving the traditional workforce to raise her children. Her focus is on bringing practical, high-level HR to small businesses, helping owners improve staff culture, increase retention, and stay in compliance. She is a frequent speaker to CEO groups and conferences on HR topics, and she publishes a biweekly HR newsletter on LinkedIn.

Cindi graduated from Wake Forest University. She is married to Don, and they have two children, Matt and Emily.

LinkedIn

Innovative Outsourcing

Innovative Outsourcing is an Atlanta-based firm that has been providing HR and recruiting services to small businesses since 1994. The firm operates two main practice areas: consultative recruiting for part-time and full-time professional roles and fractional HR services for companies that need HR expertise without a full-time HR hire.

On the HR side, Innovative Outsourcing offers a range of engagement models, from HR Compass, a monthly fractional HR service starting at $500 per month, to the HR Assessment and Roadmap, a structured audit and planning tool designed to surface compliance gaps and people-strategy weaknesses. The firm works with companies from just a few employees up through those large enough to need an HR director, and its team includes consultants with decades of experience across HR compliance, talent management, and organizational development.

Website

The Exit Planning Exchange Atlanta

The Exit Planning Exchange Atlanta (XPX) is a diverse group of professionals with a common goal: working collaboratively to assist business owners with a sale or business transition. XPX Atlanta is an association of advisors who provide professionalism, principles, and education to the heart of the middle market.

Their members work with business owners through all stages of the private company life cycle: business value growth, business value transfer, and owner life and legacy. Their vision: to fundamentally change the trajectory of exit planning services in the Southeast United States. XPX Atlanta delivers a collaboration-based networking exchange with broad representation of exit planning competencies. Learn more about XPX Atlanta and why you should consider joining our community by following this link.

The host of The Exit Exchange is John Ray, and the show is produced by North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®, in Alpharetta. The show archive can be found by following this link.

John Ray Co. is a Gold Sponsor of XPX Atlanta.

Sri Chakravarty on Business Valuation and Exit Planning

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Sri Chakravarty, ProfitAbility, on Business Valuation, Lender-Ready Financials, and Exit Planning (North Fulton Business Radio, Episode 955), with host John Ray
North Fulton Business Radio
Sri Chakravarty on Business Valuation and Exit Planning
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Sri Chakravarty, ProfitAbility, on Business Valuation, Lender-Ready Financials, and Exit Planning (North Fulton Business Radio, Episode 955), with host John Ray

Sri Chakravarty, ProfitAbility, on Business Valuation, Lender-Ready Financials, and Exit Planning (North Fulton Business Radio, Episode 955)

In this episode of North Fulton Business Radio, host John Ray welcomes Sri Chakravarty, President of ProfitAbility, a financial advisory practice based in Alpharetta that specializes in business valuations, financial projections, and business plans for small and mid-sized companies.

Sri explains the fundamental gap that exists between how a business owner sees their company and how a lender sees it. Owners see opportunity; lenders see risk. His job is to close that gap by helping owners build realistic financial projections that address both sides of that perception divide. As Sri puts it, the goal is not just to produce a convincing document for the bank but to help a business owner develop what he calls “intrinsic confidence” in their numbers, a genuine understanding of the why behind every projection.

The conversation also covers how Sri approaches business valuation. He argues that a valuation is not a fixed number but a defensible estimate and that a thorough valuation functions as something close to a quasi-audit of the entire business, examining management, customers, market, competition, and more. Sri draws on a memorable example from his own work: visiting a client’s warehouse and discovering a large amount of obsolete inventory that was quietly dragging down the company’s value. That kind of operational lens, he says, is what distinguishes a meaningful valuation from a ChatGPT-generated number.

John Ray is the host of North Fulton Business Radio. The show is produced by John Ray and North Fulton Business Radio, LLC, an affiliate of Business RadioX®, and is recorded inside Renasant Bank in Alpharetta.

Key Takeaways from This Episode

  • Business owners and lenders often see the same company very differently: owners see opportunity while lenders see risk, and bridging that gap requires more than solid historical financials.
  • A good business valuation is not a single number — it is a defensible estimate built from multiple approaches, and the documentation of how you arrived at it matters as much as the result.
  • Sri’s operational background led him to walk a client’s warehouse during a valuation engagement, where he discovered obsolete inventory that was suppressing the company’s value and lender readiness.
  • Business owners eyeing an exit in the next five to ten years benefit from getting a professional valuation done well in advance, not just at the finish line, to both understand where they are and what to fix before the sale.

Topics Discussed in this Episode

00:20 John Ray introduces the show and guest Sri Chakravarty
02:00 Sri describes who he serves and how he helps close the financial narrative
02:58 Sri’s background: MBA from University of Chicago Booth, M&A work, and founding ProfitAbility in 2022
03:42 Why business owners often don’t know what they need until they sit across from a banker
04:11 The perception gap between business owners and lenders: opportunity vs. risk
05:13 Sri’s role: turning historical financials into a forward-looking story in numbers
06:15 The Amazon analogy: growing companies burning cash and why projections need full expense context
07:29 What lenders actually look for: clarity, detail, and documentation
08:21 Helping owners “own their numbers” and build intrinsic confidence
09:24 Common reasons loan applications fall apart: unrealistic projections and unaddressed questions
10:36 Sri’s operational background and how it helps him see both sides
12:11 Using financial analysis for businesses not seeking outside financing: opportunity cost and ROI decisions
14:27 The name “ProfitAbility” and what it represents
14:44 Preparing for a business exit: moving from hub to spoke, and addressing customer concentration
16:11 Valuation as a living management tool, not just an end-of-life exercise
17:19 Why a ChatGPT-generated valuation won’t hold up: the three approaches to business valuation
21:15 How often business owners should get a valuation done
22:16 The case for getting a valuation before you think you need one: private equity surprise offers and knowing your number
24:37 How Sri’s operations background informs his valuation work: the warehouse walk example
26:27 Who should call Sri and when: taking off or getting ready to land
27:12 How to reach Sri Chakravarty

Sri Chakravarty, President

Sri Chakravarty is the founder of ProfitAbility, a financial advisory practice focused on business valuations, business plans, and integrated financial projections for small and mid-sized companies.

With more than 20 years of experience inside large global organizations, Sri has worked across manufacturing, distribution, and industrial sectors at the intersection of finance and operations. His background includes leading financial planning, pricing strategy, and operational initiatives, giving him an inside view of how businesses actually operate beyond what is reflected in financial statements.

Drawing on this operating experience, Sri brings a practical lens to financial analysis. When business owners talk about pricing pressure, inventory challenges, working capital cycles, or customer concentration, he understands those dynamics firsthand and translates them into clear financial insight.

Sri holds the Certified Valuation Analyst (CVA) designation and an MBA in Finance and Operations from the University of Chicago Booth School of Business.

LinkedIn

ProfitAbility

ProfitAbility is a financial advisory practice that specializes in business valuations, business plans, and integrated financial projections for small and mid-sized businesses.

Founded in 2022, the firm was built to bring sophisticated, real-world financial analysis to companies that need to present their financials clearly to lenders, investors, and transaction counterparties. Typical client situations include debt or equity financing, ownership transitions, and strategic growth initiatives.

Valuation work sits at the center of the practice. ProfitAbility develops customized, standards-compliant analyses and financial projections designed to stand up to scrutiny from underwriters, investors, and advisors.

The firm is intentionally structured as a focused practice, with all engagements receiving direct senior-level attention to ensure quality, consistency, and accountability.

Website | LinkedIn

Renasant Bank supports North Fulton Business Radio

Renasant BankRenasant Bank has humble roots, having started in 1904 as a $100,000 bank located in a Lee County, Mississippi, bakery. Since then, Renasant has grown into one of the Southeast’s strongest financial institutions, boasting over $26 billion in assets and more than 280 offices offering banking, lending, wealth management, and financial services throughout the region. All of Renasant’s success stems from the commitment of each banker to invest in the communities they serve, which in turn helps them better understand the people they serve. At Renasant Bank, their banking professionals understand you because they work and live alongside you every day.

Website | LinkedIn | Facebook | Instagram | X (Twitter) | YouTube

Beyond Computer Solutions supports North Fulton Business Radio

Whether you’re a law firm, medical practice, or manufacturer, there’s one headline you don’t want to make: “Local Business Pays Thousands in Ransom After Cyberattack.” That’s where Beyond Computer Solutions comes in. They help organizations like yours stay out of the news and in business with managed IT and cybersecurity services designed for industries where compliance and reputation matter most.

Whether they serve as your complete IT department or simply support your internal team, they are well-versed in HIPAA, secure document access, written security policies, and other essential aspects that ensure your safety and well-being. Best of all, it starts with a complimentary security assessment.

Website | LinkedIn | Facebook | YouTube

About North Fulton Business Radio and host John Ray

With over 900 episodes and having featured over 1,400 guests, North Fulton Business Radio is the longest-running podcast in the North Fulton area, covering business in our community like no one else. We are the undisputed “Voice of Business” in North Fulton!

The show invites a diverse range of business, non-profit, and community leaders to share their significant contributions to their respective markets, communities, and professions. There is no discrimination based on company size, and there is never any “pay to play.” North Fulton Business Radio supports and celebrates businesses by sharing positive stories that traditional media ignore. Some media lean left. Some media lean right. We lean business.

John Ray, host of  North Fulton Business Radio, and Owner, Ray Business Advisors
John Ray, host of North Fulton Business Radio and Owner, Ray Business Advisors

John Ray is the host of North Fulton Business Radio. John and the team at North Fulton Business Radio, LLC, an affiliate of Business RadioX®, produce the show, which is recorded inside Renasant Bank in Alpharetta.

The studio is located at 275 South Main Street, Alpharetta, GA 30009.

You can find the entire archive of shows by following this link. The show is accessible on all major podcast apps, such as Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, and many others.

John Ray, The Generosity MindsetJohn Ray also operates his own business advisory practice. John’s services include advising solopreneurs and small professional services firms on their value, their positioning and business development, and their pricing. His clients are professionals who are selling their expertise, such as consultants, coaches, attorneys, CPAs, accountants, bookkeepers, marketing professionals, and other professional services practitioners.

John is the author of the five-star-rated book The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices, praised by readers for its practical insights on raising confidence, value, and prices.

Will Lee on What Drives Business Value at Exit

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Will Lee, Applied Economics, on Valuation Myths, ESOPs, and Why Exit Planning Can't Wait (The Exit Exchange, Episode 26) with host John Ray
North Fulton Studio
Will Lee on What Drives Business Value at Exit
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Will Lee, Applied Economics, on Valuation Myths, ESOPs, and Why Exit Planning Can't Wait (The Exit Exchange, Episode 26) with host John Ray

Will Lee, Applied Economics, on Valuation Myths, ESOPs, and Why Exit Planning Can’t Wait (The Exit Exchange, Episode 26)

In this episode of The Exit Exchange, host John Ray welcomes Will Lee, Managing Director at Applied Economics, for a wide-ranging conversation on business valuation, ESOPs, and the cost of waiting too long to plan a business exit.

Will explains why valuation is both an art and a science and why the “country club valuation,” where an owner benchmarks against what a friend received for his trucking company in 2022, can lead to painful surprises. He walks through the three things that actually drive value: cash flows, growth, and risk. He also discusses the increasing importance of AI tools in valuation and their limitations, particularly in identifying concentrations and risks that an owner may not disclose.

The conversation also covers ESOPs in depth: how they work, what kinds of companies are suitable candidates, and why they have become an increasingly attractive option for owners who want to protect employees and preserve their legacy rather than hand the keys to an outside buyer with promises that nothing will change. Will draws on a standout success story involving a small Winder, Georgia, manufacturer facing a French multinational, where his team helped turn a $7.5 million LOI into a $14 million closing.

The host of The Exit Exchange is John Ray, and the show is produced by John Ray and North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

  • Business owners often rely on outdated rules of thumb or “country club valuations” to estimate what their company is worth, both of which can be seriously misleading depending on market conditions and the specifics of the business.
  • The three factors that consistently drive valuation are cash flows, growth, and risk. Owners who work on all three well in advance of a sale give themselves the best chance of a strong outcome, regardless of market timing.
  • ESOPs serve as a viable and often overlooked exit strategy for owners seeking continuity, employee retention, and legacy preservation, especially in industries such as architecture, engineering, and construction, where traditional sales often result in talent loss.
  • AI tools and valuation software can be useful starting points, but they cannot replicate the judgment required to assess customer concentration, key-person risk, or the nuanced risk factors that drive defensible, professional valuations.
  • Exit planning that starts too late forces owners to focus on the sale process at exactly the wrong time, when their attention should be on keeping the business healthy and the numbers moving in the right direction.

Topics Discussed in this Episode

00:25 Introduction and welcome to Will Lee
02:13 Will’s background and how he joined Applied Economics
04:00 Working for free in the break room and earning a full-time offer
05:49 Why business valuation offers more variety than most finance careers
06:48 What business valuation actually is and how fair market value is defined
08:06 Reconciling fair market value with “something is worth what someone will pay for it”
09:40 The difference between a business valuator and an investment banker
12:18 Why business owners should get a valuation beyond the legally required moments
15:58 Common misconceptions owners have about what their business is worth
18:23 When AI tools and software are useful and when they fall short in valuation
19:33 When to hire a professional valuator and what the IRS requires
20:21 What distinguishes Applied Economics from other valuation firms
26:30 ESOPs defined and why they are becoming more popular
30:07 What kinds of companies are good ESOP candidates
33:03 When business owners should start exit planning and what happens when they wait
35:41 Why Will joined XPX Atlanta and what it offers lower middle market business owners
39:06 The importance of specialized advisors, including a discussion of sales tax nexus
40:56 Symptoms that tell a business owner it is time to call Applied Economics
42:30 Success stories: the Winder, Georgia manufacturer and other deals
45:30 How to reach Will Lee and Applied Economics

Will Lee, Applied Economics

Will Lee is a Managing Director with Applied Economics, where he has worked since 2006. He provides business valuation, investment banking, and ESOP advisory services, with experience across gift and estate tax planning appraisals, purchase price allocations, lost profits and economic damages analyses, fairness and solvency opinions, litigation support, and valuations of intangible assets. He became a partner at Applied Economics in 2012 and, in 2020, joined two colleagues in buying out the firm’s founder. He holds the ASA credential and a BBA from the Terry College of Business at the University of Georgia.

Website | LinkedIn

Applied Economics

Applied Economics is an Atlanta-based financial advisory firm founded in 1998, specializing in business valuation, investment banking, and ESOP advisory services. The firm serves a broad range of clients, from growth-stage technology companies to Fortune 100 multinationals, including privately held middle market businesses, private equity portfolio companies, healthcare systems, and nonprofit organizations. Applied Economics performs more than 200 advisory engagements annually for purposes that include financial reporting, gift and estate tax planning, mergers and acquisitions, ESOP administration, and litigation support.

Website

The Exit Planning Exchange Atlanta

The Exit Planning Exchange Atlanta (XPX) is a diverse group of professionals with a common goal: working collaboratively to assist business owners with a sale or business transition. XPX Atlanta is an association of advisors who provide professionalism, principles, and education to the heart of the middle market.

Their members work with business owners through all stages of the private company life cycle: business value growth, business value transfer, and owner life and legacy. Their vision: to fundamentally change the trajectory of exit planning services in the Southeast United States. XPX Atlanta delivers a collaboration-based networking exchange with broad representation of exit planning competencies. Learn more about XPX Atlanta and why you should consider joining our community by following this link.

The host of The Exit Exchange is John Ray, and the show is produced by North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®, in Alpharetta. The show archive can be found by following this link.

John Ray Co. is a Gold Sponsor of XPX Atlanta.

Building Business Value with Sync-Up and id8

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Andrew Clarke and Ron Nocera of Sync-Up Business Services, and Kriston Sellier of id8, on Building Stronger Businesses Through Financial Clarity, Strategic Branding, and Long-Term Vision (Family Business Radio, Episode 74), with host Anthony Chen
Family Business Radio
Building Business Value with Sync-Up and id8
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Andrew Clarke and Ron Nocera of Sync-Up Business Services, and Kriston Sellier of id8, on Building Stronger Businesses Through Financial Clarity, Strategic Branding, and Long-Term Vision (Family Business Radio, Episode 74), with host Anthony Chen

Andrew Clarke and Ron Nocera of Sync-Up Business Services, and Kriston Sellier of id8, on Building Stronger Businesses Through Financial Clarity, Strategic Branding, and Long-Term Vision (Family Business Radio, Episode 74)

In this episode of Family Business Radio, host Anthony Chen welcomes Andrew Clarke and Ron Nocera of Sync-Up Business Services, along with Kriston Sellier of id8, for a conversation about what it really takes to build a stronger business.

Andrew and Ron explain why their work goes far beyond bookkeeping. They discuss how small business owners often know their craft but lack the financial visibility needed to make sound decisions, plan for taxes, and prepare for growth or succession. Their approach begins with understanding the owner’s goals, then using that end game to shape the financial story of the business.

Kriston shares her journey from agency setbacks and challenging lessons to building id8 into a research-driven branding and marketing firm. She explains why effective marketing is not about random tactics or making things look good. It starts with research, customer insight, business goals, and a clear understanding of what truly differentiates a company in the marketplace. She also offers examples of how the right positioning helped clients increase enrollment, stand out in crowded industries, and become more attractive to buyers.

Across both conversations, a common thread emerges: business owners need more than transactions, reports, or surface-level tactics. They need clarity, strategy, and partners who can help them align decisions with where they want the business to go.

In his closing commentary, Anthony Chen reflects on that theme by noting that retirement and long-term planning are not just about numbers. They are about purpose. He points to the guests as examples of people who have found meaningful work that serves others, and he leaves listeners with a simple but timely reminder: there is still hope.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

  • Andrew Clarke explains why many small business owners understand their trade but not the financial mechanics required to run a healthy business.
  • Sync-Up Business Services begins with the owner’s goals, because growth, succession, franchising, and selling all require different financial decisions.
  • Ron Nocera shares how a late-career pivot led him from corporate IT into business development and relationship-building for Sync-Up.
  • Kriston Sellier describes id8’s research-first process, which relies on stakeholder interviews, customer insight, and competitive context before creative work begins.
  • Sellier makes the case that branding and marketing should be tied to business goals, not disconnected tactics like a new website, ads, or logo alone.
  • The conversation highlights how better positioning and better financial clarity can both increase business value and support a stronger long-term outcome.

Topics Discussed in this Episode

00:00 Anthony Chen introduces Andrew Clarke and Ron Nocera of Sync-Up Business Services
00:52 Andrew Clarke on retirement, re-engagement, and helping small business owners
03:06 Why Sync-Up moved beyond bookkeeping to broader business advisory services
04:20 Ron Nocera’s path from corporate IT into business development and relationship-building
05:01 A home healthcare client story: revenue growth without owner pay or healthy margins
08:12 Why understanding the owner’s end game shapes the financial strategy
11:06 Common business owner mistakes: weak planning, tax surprises, and poor visibility
15:00 A brewery example of messy books, tax planning, and finding hidden opportunity
18:13 Advice for corporate professionals thinking about starting a business
24:00 Kriston Sellier of id8 joins the conversation
24:20 Kriston’s path from speech pathology to graphic design, branding, and entrepreneurship
25:48 The betrayal that pushed Kriston to start her own firm
31:10 Why id8 begins with research, interviews, and customer insight
34:21 id8’s differentiator: strategy first, before creative execution
36:23 The Harben case: uncovering a hidden story that set the company apart
40:51 The biggest branding mistake, starting with tactics instead of business goals
42:22 A client success story: stronger positioning, higher EBITDA, and buyer interest
48:41 The end-game question: what each guest hopes their work ultimately accomplishes

Andrew Clarke and Ron Nocera, Sync-Up Business Services

Andrew Clarke, Sync-Up Business Services
Andrew Clarke

Andrew Clarke and Ron Nocera are the core of the Sync-Up Business Services team, a firm that helps small business owners go beyond basic bookkeeping to gain clearer financial visibility, stronger operational insight, and better long-term decision-making. Andrew brings the perspective of a seasoned business owner who has started, operated, and learned from multiple businesses across several industries. Ron brings more than 30 years of corporate IT experience and now focuses on business development and relationship-building. Together, they help clients understand the story behind their numbers, align financial decisions with business goals, and build healthier, more valuable companies.

Ron Nocera, Sync-Up Business Services
Ron Nocera

Sync-Up Business Services works with small business owners who need more than clean books. The firm provides advisory, consulting, and financial support designed to help clients understand their operations, improve profitability, plan better, and make smarter decisions for growth, succession, or eventual exit. Sync-Up operates on the principle that financials should serve a purpose beyond merely reporting the past. They should help owners see what is really happening in the business and what needs to change.

Website | Andrew Clarke LinkedIn | Ron Nocera LinkedIn

Kriston Sellier, Founder & President, id8

Kriston Sellier, Founder & President, id8
Kriston Sellier, id8

Kriston Sellier is the Founder and President of id8, an award-winning branding and marketing agency based in Marietta, Georgia. She launched the firm in 2000 after building experience at IBM, where she worked on brand development and e-business initiatives for clients including The New York Times, Kodak, and the U.S. Virgin Islands Department of Tourism. At id8, Kriston leads with a research-first philosophy, helping businesses uncover what truly sets them apart and translate that into stronger positioning, clearer messaging, and measurable growth. Under her leadership, id8 has earned multiple national design awards and recognition as a Cobb Chamber Top 25 Small Business of the Year. Kriston holds a degree in Graphic Design from Illinois State University and has also completed advanced study and executive training through the University of Cincinnati, Dartmouth College, and Babson College.

id8 is an award-winning branding and marketing agency in Marietta, Georgia, focused on helping small and mid-sized businesses grow through research-driven strategy and creative execution. The firm is known for going deeper than surface-level design, using market research and business insight to shape branding, messaging, websites, campaigns, and other marketing initiatives that solve real business problems. id8 serves clients across industries and is especially valued for its senior-level involvement, agility, and straightforward client communication. Its client roster includes organizations such as the Georgia Department of Labor, Visit Marietta, Atlanta North School, the City of Atlanta Jazz Festival, Kistler, and Hartsfield-Jackson International Airport.

Website | LinkedIn

Anthony Chen, Host of Family Business Radio

Anthony Chen, Host of Family Business Radio

Family Business Radio is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through OSAIC, member FINRA/SIPC. RAA is separately owned, and other entities and/or marketing names, products, or services referenced here are independent of OSAIC. The main office address is 575 Broadhollow Rd., Melville, NY 11747. You can reach Anthony at 631-465-9090, ext. 5075, or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY, in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA, home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance, Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

Follow this link to access the complete show archive of Family Business Radio.

3–5 Years Before Exit: Alignment, Pricing, Sales, Branding

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What Business Owners Should Be Doing 3–5 Years Before Exit, with Lynda Martin, John Ray, Mary Dombrowski, and Jeff Armacost (The Exit Exchange, Episode 25)
North Fulton Studio
3–5 Years Before Exit: Alignment, Pricing, Sales, Branding
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What Business Owners Should Be Doing 3–5 Years Before Exit, with Lynda Martin, John Ray, Mary Dombrowski, and Jeff Armacost (The Exit Exchange, Episode 25)

What Business Owners Should Be Doing 3–5 Years Before Exit, with Lynda Martin, John Ray, Mary Dombrowski, and Jeff Armacost (The Exit Exchange, Episode 25)

This episode of The Exit Exchange reprises a live XPX Atlanta luncheon featuring Lynda Martin, John Ray, Mary Dombrowski, and Jeff Armacost on what business owners should be doing three to five years before exit.

The conversation focuses on four areas that can materially affect valuation long before a company goes to market: leadership alignment, pricing, sales, and branding. Rather than rehashing legal and tax issues, this panel looks at the less obvious drivers of enterprise value, the ones that often take years to strengthen and do not always show up clearly on a balance sheet at first glance.

Lynda Martin discusses the importance of leadership-team health, alignment, and process discipline in building a company that is less dependent on the owner. John Ray explains why pricing is one of the most direct levers for improving margins and strengthening valuation. Mary Dombrowski explores how sales structure and business development systems create transferable value. Jeff Armacost shows how branding helps buyers and the market see the fullest true story of a company’s value.

This is a practical conversation for business owners who want to build a stronger, more salable company well before the transaction process begins, and for advisors who help them prepare early instead of scrambling late.

The host of The Exit Exchange is John Ray, and the show is produced by John Ray and North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®. John Ray Co. is a Gold Sponsor of XPX Atlanta.

Key Takeaways From This Episode

  • Most owners start thinking about exit too late. Real value improvements usually need years, not months.
  • Leadership alignment matters because buyers want a business that can run without the founder carrying everything.
  • Strong sales systems create transferable value by making revenue more consistent and less owner-dependent.
  • Pricing is one of the most direct ways to improve margins, but it only works when the company can explain and defend its value.
  • Branding helps buyers and the market see the fullest true story of the business, which can strengthen both growth and valuation.

Topics Discussed in this Episode

00:00 Introduction
00:24 Opening and why owners need to think earlier about exit
02:23 Panel introductions
06:21 Lynda Martin on leadership alignment, process, and reducing founder dependence
09:27 John Ray on the importance of pricing strategy and why pricing affects valuation
18:35 Mary Dombrowski on sales structure, founder dependence, and transferable value
28:03 Jeff Armacost on branding, positioning, and telling a stronger story
33:44 Examples of how alignment, pricing, sales, and branding changed exit value
44:01 Where to find the panelists
46:44 Close

Lynda Martin, EOS Worldwide

Lynda Martin
Lynda Martin

Lynda Martin has been walking alongside small and mid-sized business owners since the late 1990s, helping them navigate growth, challenges, and big decisions with clarity and confidence. Over the years, Lynda has provided steady guidance to leadership teams during nearly a dozen successful business exits. For the past 13 years, Lynda has served as an EOS Implementer®, bringing practical wisdom, honest conversations, and proven tools to help companies become stronger and healthier. Known for her calm presence and no-nonsense insight, Lynda helps leaders build businesses they’re proud of and lives they enjoy.

Website | LinkedIn

John Ray, John Ray Co.

John Ray
John Ray

John helps professional service business owners increase enterprise value years before exit through pricing strategy. Pricing is often the most direct lever for raising margins without adding headcount, and stronger margins translate into a stronger valuation. He advises consultants, attorneys, coaches, and fractional executives on value-based pricing, proposals, and business development. John brings 13 years as an independent business owner advising expert practitioners, plus earlier finance and M&A experience, including at J.P. Morgan. He is the author of The Generosity Mindset and host of two podcasts, The Price and Value Journey and North Fulton Business Radio.

Website | LinkedIn

Mary Dombrowski, Strategic Inflection Advisory

Mary Dombrowski
Mary Dombrowski

Mary Dombrowski is the founder of Strategic Inflection Advisory, where she partners with business owners to build scalable, salable companies well before they’re considering exit. As a strategic advisor, Mary specializes in creating business development and sales structures that generate transferable value. Her work transforms founder-dependent businesses into assets that can operate—and sell—without the owner. With 20+ years in revenue leadership, Mary helps clients achieve sustainable growth and build businesses positioned for successful exit.

Website | LinkedIn

Jeff Armacost, Build Brand Capital

Jeff Armacost
Jeff Armacost

For 25+ years Jeff has guided successful, standout brand development for 100s of companies and organizations of all kinds. Business owners and CEOs call on Jeff as a thinking partner to build their brand and a cost-effective solution for ongoing branding, brand launches, and key internal branding initiatives. Fast-growing small businesses call on Jeff when it’s time for a serious rebrand or on-the-fly brand refresh that positions them to reach big goals and outpace their competition. Experienced business advisors pull Jeff in—and if needed, his team of graphic design and web development—to add big-time brand power to their clients’ marketing campaigns, new website projects, and more.

Website | LinkedIn

The Exit Planning Exchange Atlanta

The Exit Planning Exchange Atlanta (XPX) is a diverse group of professionals with a common goal: working collaboratively to assist business owners with a sale or business transition. XPX Atlanta is an association of advisors who provide professionalism, principles, and education to the heart of the middle market.

Their members work with business owners through all stages of the private company life cycle: business value growth, business value transfer, and owner life and legacy. Their vision: to fundamentally change the trajectory of exit planning services in the Southeast United States. XPX Atlanta delivers a collaboration-based networking exchange with broad representation of exit planning competencies. Learn more about XPX Atlanta and why you should consider joining our community by following this link.

The host of The Exit Exchange is John Ray, and the show is produced by North Fulton Business Radio, LLC, the North Fulton affiliate of Business RadioX®, in Alpharetta. The show archive can be found by following this link.

John Ray Co. is a Gold Sponsor of XPX Atlanta.

Eric Togneri on Business Valuation and MyBizWorth.com

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Eric Togneri, What is My Biz Worth? and MyBizWorth.com, on Affordable Business Valuations and the "Determine Build Realize" Framework (North Fulton Business Radio, Episode 934), with host John Ray
North Fulton Business Radio
Eric Togneri on Business Valuation and MyBizWorth.com
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Eric Togneri, What is My Biz Worth? and MyBizWorth.com, on Affordable Business Valuations and the "Determine Build Realize" Framework (North Fulton Business Radio, Episode 934), with host John Ray

Eric Togneri, What is My Biz Worth?, on Affordable Business Valuations and the “Determine, Build, Realize” Framework (North Fulton Business Radio, Episode 934)

On this episode of North Fulton Business Radio, host John Ray welcomes Eric Togneri, Founder and CEO of What is My Biz Worth? Eric discusses the importance of business owners knowing the accurate value of their business, noting that 85% of most business owners’ net worth is tied up in their company, yet they often have no idea what it’s worth. He explains how What is My Biz Worth? was created to make valuations accessible and affordable, helping business owners determine, build, and realize the value they’ve created.

Eric shares the backstory of founding What is My Biz Worth? and parent company Neri Capital Partners with his father 20 years ago, and how they evolved from investment banking to supporting business owners throughout their entire business lifecycle. He tells the story of a concrete company owner who thought no one would want to buy his business, only to discover it was worth millions and successfully exit years earlier than planned. Eric reveals that business owners who get intentional about building value can improve their business value by an average of 71% in just 12 months.

John Ray is the host of North Fulton Business Radio. The show is produced by John Ray and North Fulton Business Radio, LLC, an affiliate of Business RadioX®, and is recorded inside Renasant Bank in Alpharetta.

Key Takeaways from This Episode

  • Most business owners have 85% or more of their net worth tied up in their business but have no clear idea what it’s actually worth, relying instead on perception rather than professional valuation
  • Business owners who get intentional about building value using proven tools and frameworks can improve their business value by an average of 71% in just 12 months
  • What is My Biz Worth? offers affordable, market-accurate valuations that help owners understand their business value at any stage, not just when they’re ready to sell
  • The “Determine, Build, Realize” framework guides business owners through understanding current value, improving that value systematically, and ultimately achieving a successful exit

Topics Discussed in this Episode

00:20 John Ray introduces the show and guest Eric Togneri
02:05 Eric Togneri introduces What is My Biz Worth?
02:40 Why most business owners don’t know what their business is worth
03:39 The shocking percentage of net worth tied up in business value
04:33 Eric’s backstory and founding Neri Capital Partners with his father
05:49 Evolution from investment bank to lifecycle business valuation services
06:45 Genesis of What is My Biz Worth?
07:38 Business owners who are shocked positively or negatively by valuation results
09:24 Common misperceptions about business value based on buddy’s sale or arbitrary multiples
11:52 How marketplace realities differ from owner perceptions
14:31 Financial versus strategic buyers and their different value calculations
17:51 The importance of getting a valuation years before selling
20:05 Building transferable value that doesn’t depend solely on the owner
22:14 Examples of value drivers in different industries
25:45 The Determine Build Realize framework explained
29:15 Success story of Boss Concrete owner who exited early after discovering true value
31:43 How to get started with MyBizWorth.com
33:25 Business owners can improve value by 71% in 12 months on average

Eric Togneri, Founder & CEO

Eric Togneri is a passionate entrepreneur and investor with over 20 years of experience in the lower-middle market. Eric founded What is My Biz Worth? to deliver affordable, actionable, market-accurate valuations for business owners who want to know the worth of their most important asset. His goal is to provide solutions that help entrepreneurs determine, build, and realize the value they have created so they can exit on top.

As the CEO and Managing Director of Neri Capital Partners, Eric leverages his expertise in deal origination, investment banking, and consumer products to facilitate successful transactions for owners and investors. He is a Certified Exit Planning Advisor and a co-founder of the Exit Planning Exchange (XPX) Atlanta Chapter, a collaborative network of professional service providers who share a vision of changing the trajectory of exit planning services in the Southeast United States.

Prior to founding Neri Capital Partners and What is My Biz Worth?, Eric had a successful corporate career in health, beauty, and wellness with L’Oreal and Wyeth, representing brands such as Advil, Robitussin, Centrum, and ChapStick. His corporate career culminated in leading Shopper Marketing and Trade Planning for North America Consumer Brands. Eric has a Bachelor’s degree in Marketing from the University of Iowa and an MBA from the University of Pittsburgh. He earned the designation of Certified Exit Planning Advisor in 2008, one of the first 100 advisors worldwide.

LinkedIn

What is My Biz Worth?

What is My Biz Worth? is the trusted source for financial advice and business valuation services. The company specializes in providing accurate, affordable, and actionable business valuations to help owners make informed decisions for their company’s future. The team of experts combines years of experience and over 1,000 valuations with data-driven analysis to give business owners the most reliable valuation possible. What is My Biz Worth? stands out by focusing on trust, expertise, and accuracy. Their commitment to exceptional service and reliable valuations reflects their values, and they provide the tools business owners need to determine, build, and realize the value of their business so they can exit on top. The parent company, Neri Capital Partners, has facilitated over 248 successful exits since its founding. Whether looking to sell a business, secure funding, or simply understand current business value, the What is My Biz Worth? team is ready to help.

Website | Facebook | Instagram

Renasant Bank supports North Fulton Business Radio

Renasant BankRenasant Bank has humble roots, having started in 1904 as a $100,000 bank located in a Lee County, Mississippi, bakery. Since then, Renasant has grown into one of the Southeast’s strongest financial institutions, boasting over $26 billion in assets and more than 280 offices offering banking, lending, wealth management, and financial services throughout the region. All of Renasant’s success stems from the commitment of each banker to invest in the communities they serve, which in turn helps them better understand the people they serve. At Renasant Bank, their banking professionals understand you because they work and live alongside you every day.

Website | LinkedIn | Facebook | Instagram | X (Twitter) | YouTube

Beyond Computer Solutions supports North Fulton Business Radio

Whether you’re a law firm, medical practice, or manufacturer, there’s one headline you don’t want to make: “Local Business Pays Thousands in Ransom After Cyberattack.” That’s where Beyond Computer Solutions comes in. They help organizations like yours stay out of the news and in business with managed IT and cybersecurity services designed for industries where compliance and reputation matter most.

Whether they serve as your complete IT department or simply support your internal team, they are well-versed in HIPAA, secure document access, written security policies, and other essential aspects that ensure your safety and well-being. Best of all, it starts with a complimentary security assessment.

Website | LinkedIn | Facebook | YouTube

About North Fulton Business Radio and host John Ray

With over 900 episodes and having featured over 1,400 guests, North Fulton Business Radio is the longest-running podcast in the North Fulton area, covering business in our community like no one else. We are the undisputed “Voice of Business” in North Fulton!

The show invites a diverse range of business, non-profit, and community leaders to share their significant contributions to their respective markets, communities, and professions. There is no discrimination based on company size, and there is never any “pay to play.” North Fulton Business Radio supports and celebrates businesses by sharing positive stories that traditional media ignore. Some media lean left. Some media lean right. We lean business.

John Ray, host of  North Fulton Business Radio, and Owner, Ray Business Advisors
John Ray, host of North Fulton Business Radio and Owner, Ray Business Advisors

John Ray is the host of North Fulton Business Radio. John and the team at North Fulton Business Radio, LLC, an affiliate of Business RadioX®, produce the show, which is recorded inside Renasant Bank in Alpharetta.

The studio is located at 275 South Main Street, Alpharetta, GA 30009.

You can find the entire archive of shows by following this link. The show is accessible on all major podcast apps, such as Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, and many others.

John Ray, The Generosity MindsetJohn Ray also operates his own business advisory practice. John’s services include advising solopreneurs and small professional services firms on their value, their positioning and business development, and their pricing. His clients are professionals who are selling their expertise, such as consultants, coaches, attorneys, CPAs, accountants, bookkeepers, marketing professionals, and other professional services practitioners.

John is the author of the five-star-rated book The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices, praised by readers for its practical insights on raising confidence, value, and prices.

Adam Hatcher and Greg Silberman: The Inner Family Business

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How the “Inner Family Business” Protects the Operating Business, Adam Hatcher, Twenty One Clear, LLC, and Greg Silberman, Ritterband & Co. (Family Business Radio, Episode 71), with host Anthony Chen
Family Business Radio
Adam Hatcher and Greg Silberman: The Inner Family Business
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How the “Inner Family Business” Protects the Operating Business, Adam Hatcher, Twenty One Clear, LLC, and Greg Silberman, Ritterband & Co. (Family Business Radio, Episode 71), with host Anthony Chen

How the “Inner Family Business” Protects the Operating Business, Adam Hatcher, Twenty One Clear, LLC, and Greg Silberman, Ritterband & Co. (Family Business Radio, Episode 71)

On this episode of Family Business Radio, host Anthony Chen welcomes Adam Hatcher of Twenty One Clear LLC and Greg Silberman, Ritterband & Co., to explore what it really takes for family businesses to work together and stay together across generations. Adam shares lessons from 13 years inside his own multigenerational family company and introduces the idea of the “inner family business,” the separate system inside the operating company that requires intentional attention, not just good intentions.

Adam outlines practical governance moves that prevent predictable blowups, including a cadence of dedicated family business meetings and clear ways to handle tension points like compensation, hiring family members, and what happens when a family member exits the business. He also explains why families need to decide, explicitly, how they will balance the interests of the company, the clients, and the family, because different priority orders create conflict in everyday decisions.

Greg brings the tax, accounting, and advisory perspective from his work leading Ritterband & Co., a unified firm identity formed by integrating multiple legacy practices under one structure. He discusses the industry’s shift from compliance-only work toward proactive planning, ongoing guidance, and long-term strategy. He also shares how values and giving practices can show up in wealth decisions and why his firm is building Ritterband Stewardship Plans™ designed around monthly dashboards, quarterly reviews, and audit-readiness.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

  • The “inner family business” is a real system inside the company, and it will not stay healthy by accident.
  • A steady cadence of family business meetings prevents small issues from turning into permanent fractures.
  • Clear rules are necessary for compensation, hiring, and exit decisions, held together by trust and follow-through.
  • Families need to agree on the priority order of company, clients, and family, because misalignment quietly poisons decisions.
  • Accounting firms are moving beyond compliance toward proactive planning and ongoing advisory relationships.
  • Ritterband Stewardship Plans™ reflect the market’s demand for clearer visibility, audit-readiness, and consistent decision support.

Topics Discussed in this Episode

00:00 Introduction to Family Business Radio
00:38 Guest Introduction: Adam Hatcher of Twenty One Clear
00:48 Adam Hatcher’s Family Business Journey
01:54 Balancing Family and Business
03:55 Joining the Family Business
07:08 Deciding to Step Back
10:53 Helping Family Businesses Thrive
14:09 Common Mistakes in Family Businesses
17:39 Contact Information and Resources
18:20 Guest Introduction: Greg Silverman
19:36 Exploring Family Dynamics in CPA Practices
19:52 Acquiring and Integrating CPA Practices
20:40 Challenges and Strategies in Modern CPA Firms
23:03 The Evolution of CPA Services
27:10 The Future of CPA Practices and Personal Reflections
32:01 The Importance of Giving and Legacy Planning
33:55 Final Thoughts and Closing Remarks

Adam Hatcher, Twenty One Clear, LLC

Adam Hatcher, Twenty One Clear, LLC
Adam Hatcher, Twenty One Clear, LLC

Adam Hatcher is the founder of Twenty One Clear, LLC, a family business consultant with deep experience in scaling family-owned enterprises. He grew up in his family’s staffing and recruiting firm (MAU Workforce Solutions), where he established the legal office, modernized human resources, led strategic planning, served as general counsel, and sat on the board of advisors and family council for over 13 years.​

Under his leadership, the company expanded from a regional $100 million firm to a nationwide $500 million organization, securing major clients like BMW, Chick-fil-A, Kimberly-Clark, Southern Company, and Truist while managing three generations of family dynamics. Hatcher drove key initiatives, including $50 million in acquisitions, performance management systems, cost reductions, and a major reorganization ahead of the company’s 50th year.​

Twenty One Clear, LLC provides strategic consulting and fractional executive services to “chaos-proof” family businesses, emphasizing trust, communication, and clarity across family roles as owners, employees, and relatives. The firm helps startups and small- to mid-sized companies address challenges like hiring family members, daily collaboration, ownership transitions, and exits.

Website | LinkedIn

Greg Silberman, Ritterband & Co.

Greg Silberman, Ritterband & Co.
Greg Silberman, Ritterband & Co.

Greg Silberman, CPA, CFA, CAIA, is Managing Director of Ritterband & Co. in Atlanta, Georgia. He advises high-net-worth individuals and growing businesses on tax planning and structuring, accounting, and long-term wealth strategy, with added depth in investments, private equity and debt, and M&A advisory. Greg brings more than 20 years of global financial experience across Europe, Asia, and North America, including senior investment leadership and alternative investment portfolio management.

Ritterband & Co. is a tax, accounting, and advisory firm formed by bringing three legacy firms under one unified identity: SJ Gorowitz, Reed Quinn & McClure, and Van Huss, Hogan, McCurry & Associates. The firm’s approach is anchored in clarity, precision, and purpose, helping clients make informed decisions across tax, accounting, and financial matters while supporting long-term planning. Beginning in early 2026, the firm expects to introduce Ritterband Stewardship Plans™, featuring monthly dashboards, quarterly reviews, and audit-readiness, along with expanded tax and accounting capabilities, an upgraded client portal, and new strategic and long-term planning services.

Website | LinkedIn

Anthony Chen, Host of Family Business Radio

Anthony Chen, Host of Family Business Radio

Family Business Radio is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through OSAIC, member FINRA/SIPC. RAA is separately owned, and other entities and/or marketing names, products, or services referenced here are independent of OSAIC. The main office address is 575 Broadhollow Rd., Melville, NY 11747. You can reach Anthony at 631-465-9090, ext. 5075, or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY, in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA, home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance, Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

Follow this link to access the complete show archive of Family Business Radio.

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