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Your Business Isn’t Valuable… Here’s Why!

📅 July 28, 2026 ⏱️ 35:20 🎤 Lance Bachmann, Steve Baker

Chapters

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  • 0:00
    Time is Limited
    Steve Baker opens the episode by discussing the finite nature of life and how this perspective can motivate individuals and businesses.
  • 0:28
    About Steve Baker
    Steve Baker introduces himself, his 20-year tenure at The Great Game of Business, and his work helping companies with business strategy and exit planning.
  • 1:09
    The Game of Business
    Steve outlines three core elements of his business philosophy: understanding the rules, keeping score, and having a stake in the outcome.
  • 7:34
    Employee Ownership (ESOP)
    The discussion delves into Employee Stock Ownership Plans (ESOPs) and the importance of teaching financial literacy before making employees owners.
  • 11:26
    Financial Literacy & Mindset
    Both speakers stress the importance of financial literacy, an abundance mindset, and the value of investing in personal and professional development.
  • 15:56
    Entrepreneurial Freedom vs. Reality
    Lance and Steve discuss the common misconception of entrepreneurial 'freedom' versus the reality of demanding business ownership.
  • 24:54
    Quality Time Remaining
    Steve shares the inspiration behind his book 'Quality Time Remaining,' prompted by a cancer diagnosis, and its focus on creating a 90-day life improvement plan.

Speakers

L
Lance Bachmann
Host
S
Steve Baker
Author, Speaker, Coach

Key Takeaways

Implement open-book management principles to foster a culture where employees understand the financial 'rules of the game,' actively track progress, and have a stake in the company's success.

Consider employee stock ownership plans (ESOPs) or other equity programs to align employee incentives with business growth, but prioritize financial literacy training first so they truly understand the value.

Actively participate in masterminds, conferences, and peer groups to network, share best practices, and gain new perspectives on scaling your business and overcoming challenges.

Develop financial literacy within your team; understanding how money is made, retained, and invested will empower employees to make better decisions and contribute more effectively.

Cultivate an abundance mindset, both personally and within your business, recognizing that there is ample opportunity for growth and success for everyone involved.

Regularly assess your 'quality time remaining' and ensure your business operations and goals align with your personal values and life objectives, rather than becoming a 'perfect prison.'

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