The Executive Connect Podcast

Why Smart Business Owners Choose Employee Ownership | Matt Middendorp

36 min · 25. juni 2026
episode Why Smart Business Owners Choose Employee Ownership | Matt Middendorp cover

Description

What if the biggest mistake a business owner can make is not getting the wrong multiple, but exiting without thinking deeply about what happens to the people and the company after they leave? In this episode of Executive Connect, Melissa Aarskaug sits down with Matt Middendorp to talk about ESOPs, employee ownership, and why business exits should be deliberate, not accidental. Matt shares how working at an employee-owned company changed the way he thought about culture, performance, and long-term value, and how that perspective stayed with him through banking, business ownership, and advising founders through transitions. He explains what an ESOP actually is, why it often competes well against private equity, where the tax advantages really show up, and what owners should consider if they want an exit that protects control, legacy, and employee impact. This episode is for founders, owners, advisors, and leaders thinking about succession, liquidity, or how to leave a company in a way that creates a win for more than just the seller. Press play before you treat your exit like a transaction instead of a decision that shapes everything after you. What You Will Learn * What an ESOP is and how employee ownership actually works * Why employee-owned companies often outperform non-ESOP companies * How Matt’s background in banking and business ownership shaped his view of exits * Why most owners are not deliberate enough about selling their business * How ESOPs compare with private equity and third-party buyers * Where sellers and companies can benefit from tax advantages * What kind of company is a strong ESOP candidate * Why valuation discipline matters so much in ESOP planning * How employee ownership can protect legacy and local communities * What owners should start doing five to ten years before an exit Chapters  (0:34) Why most exits miss the bigger question  (2:01) What working at an ESOP felt like  (5:06) When Matt realized ESOPs really worked  (7:54) Why employee ownership stayed with him  (11:08) The case for a deliberate exit  (13:05) What makes a company a strong ESOP fit  (15:28) ESOP versus private equity or strategic sale  (17:26) Where the tax advantages show up  (20:09) Why ESOPs get misunderstood  (24:26) What ESOPs really cost  (25:39) What happens if the company underperforms  (27:29) What separates successful ESOPs from weak ones  (29:29) How to think about legacy the right way  (33:28) What owners should do years before an exit  (35:15) Matt’s final story on ownership mindset Guest Bio  Matt Middendorp helps business owners think more strategically about succession, ownership transitions, and employee ownership. His perspective comes from working at an ESOP-owned company while putting himself through college, spending years in banking and commercial lending, and later owning and selling his own business. Today, he advises founders on how to evaluate ESOPs alongside more traditional exit paths, with a focus on helping sellers think clearly about control, value, legacy, and what happens to employees after a transaction. Connect with Matt Middendorp Website: https://www.esopready.com/ [https://www.esopready.com/] LinkedIn: https://www.linkedin.com/in/mattmiddendorp/ [https://www.linkedin.com/in/mattmiddendorp/] Connect with Executive Connect Website: https://www.executiveconnectexperience.com [https://www.executiveconnectexperience.com] LinkedIn: Melissa Aarskaug YouTube: Executive Connect Instagram: @executiveconnectpodcast TikTok: @executiveconnectpodcast Facebook: Executive Connect

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226 episodes

episode How Leaders Actually Make AI Work Inside Real Organizations Instead of Chasing Hype | Emily Lewis-Pinnell artwork

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episode Why High Performers Burn Out Before They Break Through | Dr. Ryan Gottfredson artwork

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What if the next level of leadership is not about doing more, pushing harder, or finding a better productivity system, but about upgrading who you are from the inside out? In this episode of Executive Connect, Melissa Aarskaug sits down with Dr. Ryan Gottfredson to talk about vertical leadership development, the hidden operating systems that drive behavior, and why so many high performers stay stuck in hustle mode. Ryan explains the difference between horizontal growth and vertical growth, why most leaders operate from fear without realizing it, and how that fear shows up in control, overwork, defensiveness, and short-term thinking. He also shares why emotional regulation, mindset work, and healing past patterns are essential for leaders who want to create long-term value instead of just short-term results. This episode is for executives, founders, and ambitious leaders who are tired of running at high RPMs and want to lead with more clarity, trust, and maturity. Press play before you mistake more effort for real growth. What You Will Learn * What vertical leadership development actually means * Why most adults never fully develop in adulthood * The three adult development levels and how they affect leadership * Why many high performers stay stuck in hustle mode * How fear of failure and looking bad quietly shape behavior * Why leaders often resist the inner work that would help them most * How fixed mindsets show up in control, delegation, and trust * What makes level three leaders different from strong short-term performers * Why healing and leadership growth are more connected than most people realize * How to start shifting your internal operating system in a healthier direction Chapters  (0:31) Why leadership is more about being than doing  (1:30) Ryan’s path into leadership research  (3:06) What traditional leadership models were missing  (5:24) Why hustle culture keeps leaders stuck  (5:56) The three adult development levels  (10:04) Why so few leaders reach level three  (15:08) The fear that holds most leaders back  (17:46) How fear shows up at work  (21:32) Why founders often struggle even more with this  (21:51) How mindset shifts actually happen  (24:13) Why emotional awareness matters so much  (29:06) Horizontal growth versus vertical growth  (32:16) What changes when someone develops vertically  (34:33) What true value creation looks like  (38:24) Ryan’s book and final advice  (39:34) Healing, leadership, and where to connect Dr. Ryan Gottfredson is a bestselling author, professor, researcher, and leadership consultant known for his work in vertical leadership development. With a PhD in organizational behavior and human resources from Indiana University, Ryan has spent years studying the difference between what leaders do and who leaders become. His work helps executives and organizations upgrade the internal mindsets, emotional patterns, and developmental capacity that drive sustainable leadership effectiveness. CONNECT with Dr. Ryan Gottfredson Website: https://ryangottfredson.com/ [https://ryangottfredson.com/] LinkedIn: https://www.linkedin.com/in/ryangottfredson [https://www.linkedin.com/in/ryangottfredson] CONNECT with Executive Connect Website: https://www.executiveconnectexperience.com [https://www.executiveconnectexperience.com] LinkedIn: Melissa Aarskaug YouTube: Executive Connect Instagram: @executiveconnectpodcast TikTok: @executiveconnectpodcast Facebook: Executive Connect

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episode Why Digital Identity Fails Without Trust | Jeff Mahony artwork

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