Episode 25: Understanding the Game of Ownership with Ryan Tansom
The Freedom Experience with Jean Moncrieff
<p>In this episode of <em>The Freedom Experience® Podcast</em>, I sit down with <a href="https://ryantansom.com/" rel="nofollow">Ryan Tansom</a>, founder of <strong>Independence by Design</strong>, to explore his journey of turning around his family business and creating his ownership framework. Ryan opens up about the gut-wrenching experience of "eating glass" during the five years he spent turning around a $21 million business, navigating the emotional toll of payroll struggles, and managing cash flow. He also discusses the pivotal moment when they sold the company to a competitor and how that '10-year therapy session' reshaped his understanding of business and life.</p>
<p>Through his experiences, Ryan created the <strong>Independence by Design</strong> framework to help other business owners avoid the same pitfalls. His mission is to teach business owners how to shift from a CEO mindset to an owner mindset, regain control over their time, and build a business that serves their personal and financial goals.</p>
<p><a href="https://youtu.be/cUlGWXX2E8c" rel="nofollow">Watch this conversation on YouTube</a><span>. And SUBSCRIBE!</span></p>
<strong>Key Takeaways</strong>:
<ol>
<li><strong>The Emotional Rollercoaster of a Business Turnaround</strong>: Ryan describes the intense pressure of managing a family business, the fear of missing payroll, and the mental toll it took on him.</li>
<li><strong>The Importance of Shifting from CEO to Owner</strong>: Ryan emphasizes that true freedom for business owners comes from shifting their mindset from being an operator to being a true owner, which allows them to regain control over their time.</li>
<li><strong>Cash Flow vs. Equity</strong>: Ryan explains the critical trade-offs between focusing on immediate cash flow and building long-term equity, and why business owners must find a balance that works for them.</li>
<li><strong>Building an Ownership Team</strong>: Ryan advocates for assembling a team of experts, much like private equity firms do, to help navigate complex business decisions and drive sustainable growth.</li>
<li><strong>The Reality of Selling a Business</strong>: Ryan shares the difficult decision to sell the family business to a competitor and the emotional impact of watching something he helped build get dismantled.</li>
</ol>
<strong>Sound Bites</strong>:
<ul>
<li>"I was just like, I'm young, I'm eating glass. This is all going to be valuable at some point in my life."</li>
<li>"Freedom means independence over my time."</li>
<li>"We were running a $21 million business, but it felt like a noose around our necks."</li>
<li>"I felt just unbelievably trapped, and my dad felt trapped too."</li>
<li>"It’s all about understanding the game of ownership."</li>
</ul>
<strong>Chapters</strong>:
<p>00:00 – Introduction and Background<br>03:00 – The Shift from CEO to Owner<br>06:35 – Balancing Cash Flow and Equity<br>09:24 – Managing Payroll and Cash Flow<br>19:28 – Feeling Trapped in the Family Business<br>28:03 – The Challenges of Financing<br>38:39 – Selling the Business<br>41:24 – Post-Exit Reflections and Lessons Learned<br>44:41 – Ryan’s Mission to Help Business Owners<br>49:45 – The Game of Ownership<br>52:16 – Choosing the Right Game for Your Business<br>56:10 – Finding Joy and Purpose After the Exit</p>
<strong>Resources</strong>:
<ul>
<li>Connect with Ryan Tansom on <a href="https://www.linkedin.com/in/ryan-tansom/" rel="nofollow"><span>LinkedIn</span></a>.</li>
<li>Learn more about <strong>Independence by Design</strong> at <a href="https://ryantansom.com" rel="nofollow"><span>ryantansom</span><span>.com</span></a>.</li>
</ul>