What happens when a founder has the ultimate leverage... but chooses differently?

In this rare, unfiltered story from Charting Opportunities, founder John Lesnik of Lending Science DM shares his journey of building a 10X value business that caught the attention of top-tier Private Equity firms. He was weeks away from cashing a massive check when he did the unthinkable: He walked away from the PE deal.

This isn't a story about a failed sale; it's about the power of choice. John breaks down the pros and cons of selling to Private Equity versus pursuing an Employee Stock Ownership Plan (ESOP), explaining why he chose to put his people and his company culture first. This conversation is packed with hard-won lessons on:

- The critical steps to structuring your business to sell for maximum valuation.

- How to tackle major sale hurdles like customer concentration.

- The profound reason time kills all deals in the M&A process.

- Why the final decision for the business was the ESOP route.

John’s story is a powerful reminder that while money matters, a lasting legacy and culture may be the most valuable asset you can sell.

BIG THANKS to John Lesnik for being so transparent in sharing his journey with the Charting Opportunities community.

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00:00 Welcome: Charting Opportunities' 1-Year Anniversary
03:00 ESOP vs. Private Equity: The Core Decision
03:50 What is an ESOP? A Simple Definition
06:00 How We Knew It Was Time to Sell the Business
10:45 Going to Market: Hiring the M&A Firm
14:00 The First M&A Process: 383 Contacts, 7 LOIs
17:35 When the First Deal Fell Apart
19:40 Lessons Learned: Fixing Customer Concentration
22:15 Maximizing Value: Different Multiples for Different Business Lines
29:00 The Second Process and the ESOP Feasibility Analysis
37:00 The 10:30 Hour: Walking Away from Private Equity
40:55 The Biggest Hindsight Lessons (Time Kills All Deals)
45:00 Life Post-Sale: Finding Purpose and Starting Hooks of Hope
57:45 Final Thoughts and Next Speakers

ORIGINAL MEDIA SOURCE(S):

Based on the full episode "10X Your Business Selling to ESOP"
Originally Recorded on October 12, 2025 Charting Opportunities: Season 1, Episode 12
Images courtesy of: John Lesnik and Lending Science DM

In this episode of Portus Wealth Advisors' Charting Opportunities, David Vines, a practicing CPA and business attorney, provides an essential guide to the business documents that form the foundation of any successful company. He explains why meticulous record keeping isn't just about compliance but is a critical factor evaluated by potential buyers, creditors, and the IRS.

David stresses that organized, accurate, and complete documentation signals a well run business, while messy records act as a major red flag during due diligence for a sale.

David breaks down the concept of proactive legal maintenance, urging business owners to get their documents in order while things are good, not after a problem arises. He explains the serious risks of failing to observe corporate formalities, which can lead to creditors "piercing the corporate veil" and going after an owner's personal assets.

David demystifies the key differences between various business structures, including sole proprietorships, partnerships, LLCs, S-Corporations, and C-Corporations, focusing on the crucial distinction of owner liability protection.

A significant portion of the discussion is dedicated to the specific documents every business owner needs to understand. David details the nuances of partnership agreements, corporate bylaws, shareholder agreements, and LLC operating agreements.

He offers practical advice on common but costly mistakes, such as outdated "Tax Matters Partner" clauses, failing to hold and minute annual corporate meetings, undocumented shareholder loans, and the disastrous consequences of incorrect asset titling.

Through cautionary "horror stories," he illustrates how simple oversights with deeds and leases can lead to thousands in legal fees and jeopardize major transactions.

David provides actionable insights into what should be included in these agreements, from buy sell provisions to restrictions that protect a company’s S-Corp status. The conversation also covers the importance of filing annual reports to prevent administrative dissolution and the necessity of documenting major business decisions.

This episode is an invaluable resource for any business owner who wants to fortify their company's legal structure, protect their personal assets, and ensure they're fully prepared for a smooth and successful exit.

A HUGE THANK YOU to David Vines! His detailed explanations and real world examples offer crucial guidance for business owners looking to protect their assets and maximize their company's value.

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In this episode of Portus Wealth Advisors' Charting Opportunities, Andrew Ashur, founder of Lucid Bots, shares groundbreaking insights into the evolving role of robotics and AI in the modern workforce. He discusses how Lucid Bots is leveraging advanced technology to address critical labor shortages in industries like construction and cleaning, focusing on solutions that extend human reach rather than replace human touch.

Andrew delves into the fundamental problem of AI being "trapped behind a screen" and how robotic bodies enable AI to perform physically productive tasks. He highlights the shift from text-based data for AI to the need for spatial data from robot sensors, emphasizing the multi-trillion dollar market opportunity in physical AI, robotics, and domestic manufacturing. Drawing from Lucid Bots' journey, he shares the origin story of their innovative cleaning drones and pressure washing robots, driven by real-world safety concerns and efficiency needs in elevated and dangerous jobs.

A significant portion of the discussion focuses on the ethical and moral considerations of introducing robots into the workforce. Andrew explains Lucid Bots' commitment to accessibility, designing robots that empower existing workers to enhance their output rather than displacing them. He explores the long-term impact on the workforce, drawing parallels to historical shifts in agriculture and predicting the creation of new, more fulfilling jobs focused on creativity and problem-solving. He also touches on the practicalities of scaling a robotics company, including the complex interplay of mechanical, electrical, and software engineering, production challenges, and supply chain management.

Andrew provides practical insights into the future of human-robot collaboration, envisioning a Chat-GPT-like interface for robots that allows users to communicate tasks in natural language without writing code. He addresses how businesses can approach integrating robotics, emphasizing three key questions: whether robots will become more prevalent and intelligent in their industry, and if they prefer to be at the forefront of adoption. He also advises on due diligence when selecting a robotics provider, stressing the importance of site visits, understanding support and repair plans, and seeking customer testimonials for proven ROI.

A HUGE THANK YOU to Andrew Ashur! His detailed explanation and real-world examples offer invaluable guidance for business owners considering how to strategically enhance their operational efficiency and workforce capabilities with cutting-edge robotic solutions.

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Andrew Ashur - Robotics In The Workforce | Charting Opportunities

ORIGINAL MEDIA SOURCE(S):

Originally Recorded May 13, 2025
Charting Opportunities: Season 1, Episode 8
Images courtesy of: Andrew Ashur and Lucid Bots