Alternative Exit #029 | The Exit That Gives Back: Mike Brady on Selling Without Selling Out

Alternative Exit

What happens when a strategy consultant turns social entrepreneur and then becomes a champion for employee ownership? In this episode, I sit down with Mike Brady, co-founder of 40 Million Owners, to explore his fascinating journey from PWC strategy work to pioneering open hiring at Greyston Bakery, and now to scaling employee ownership across America's lower middle market. Mike shares how his experience creating inclusive cultures taught him that providing access to jobs isn't enough—we need to create pathways to wealth building and true ownership.

We dive deep into the practical challenges facing the "silver tsunami" of retiring business owners and why employee ownership offers solutions that go far beyond traditional succession planning. From the capital structures needed to make deals competitive, to the cultural shifts required for successful ownership transitions, Mike unpacks the real work happening on the ground. This conversation is packed with insights for anyone curious about how employee ownership can scale beyond aligned sellers to become a mainstream business solution.

Key Takeaways:

• Why workforce development alone isn't enough—quality jobs with wealth-building opportunities are essential for systemic change
• How the "silver tsunami" creates dual challenges: business succession and labor shortages that employee ownership uniquely addresses
• The competitive advantage of employee ownership in attracting talent as labor markets tighten
• Why successful EO transitions require both adequate capital and strong operators, not just aligned sellers
• How existing ESOPs can become powerful acquirers, creating an ecosystem for scaling employee ownership
• The importance of transparency and "loving action" in building authentic ownership cultures
• Why market-based solutions are crucial for employee ownership to compete with private equity and search funds
• How the lower middle market ($3-50M enterprise value) represents the biggest opportunity for employee ownership growth

About Mike Brady:

Mike Brady is co-founder of 40 Million Owners, an organization dedicated to scaling employee ownership across America's lower middle market. Previously, he served as CEO of Greyston Bakery, where he pioneered award-winning open hiring practices and delivered a TED talk on inclusive employment. Mike began his career in strategy at PwC, had a tech exit with Fast, and currently serves as an operating partner at Southeast Acquisition Capital. He's recognized as a leader in impact entrepreneurship and workforce development innovation.

Connect with Mike Brady:

LinkedIn: https://linkedin.com/in/mikebrady40million/
40 Million Owners: https://40millionowners.com/

Connect with Andy Farquharson:

LinkedIn - https://linkedin.com/in/andyfarquharson/
Instagram - https://instagram.com/andyfarq
Website - https://abettermonday.me/
Email - [email protected]