Open for Business

Fraud isn’t just a big company problem -- it’s often more damaging, more frequent, and harder to detect in small and mid-size businesses.In this episode of Open For Business, featuring our guest, accountant and advisor to mid-sized businesses Steve Nicokiris, we unpack the hidden realities of fraud that many business owners overlook. From employee theft and manipulation of financial records to vendor collusion and cultural blind spots, fraud typically operates quietly, often in high trust cultures -- with devastating financial and emotional consequences for the business owner.Drawing on real-world insights, we explore:Why fraud is often called the “silent killer” of mid-sized companiesHow smaller enterprises are disproportionately targeted -- and whyThe critical role of internal controls (and what happens when they’re missing)Why trusted, long-tenured employees can pose unexpected riskHow workplace culture and leadership style influence fraud exposureThe surprising ways fraud is discovered -- and why it often isn’tPractical, actionable steps business owners can take to reduce immediate riskWe also discuss how remote work, lack of owner oversight, and operational gaps have accelerated fraud risks in recent years -- and why many cases never reach law enforcement.Whether you’re a founder, managing partner, or financial leader, this episode offers a clear-eyed look at one of the most under-discussed threats to business stability -- and how to protect what you’ve built.Love the show? Subscribe, rate, review, & share! https://www.stevenslee.com/

What truly sets high-performing companies apart? According to Corient Private Wealth Partner Brent Beene, the answer lies in an intentional, well-defined corporate culture. In this episode of Open For Business, Brent joins hosts Stuart Brown and Norman Kallen to unpack how leaders can build and sustain a culture that fuels engagement, resilience, and long-term success -- especially in an era shaped by remote work, generational shifts, escalating M&A activity, and post-COVID workforce expectations. Brent shares practical insights on defining culture with purpose, leveraging employee feedback to strengthen trust and performance, and treating culture as a strategic asset -- one that can serve as an “insurance policy” during times of disruption. The conversation also explores how to integrate cultures during mergers and acquisitions, balance tradition with innovation, and scale a company without losing its identity. Key topics include:How to define a company culture that drives engagement and resultsBuilding strong culture across remote and hybrid teamsUsing employee feedback as a tool for continuous improvementWhy culture is a strategic risk-management and retention toolSuccessfully merging cultures in M&A transactionsThe multi-generational lens on workplace values and expectationsHow the COVID crisis reshaped corporate culture -- and what leaders must do nowPreserving culture while accelerating growth and expansion Whether you’re leading a fast-growing company, navigating change, or rethinking your organization’s identity, this episode delivers actionable insights on building a culture that not only supports success – but drives it.

Looking for smart, uplifting corporate comedy that goes beyond punchlines? Today, hosts Stuart Brown and Norman Kallen sit down with internationally touring comedian Shaun Eli—founder of The Ivy League of Comedy and one of the rare performers blending stand-up skill with the science of human flourishing. From late-night TV writing to mastering positive psychology at UPenn, Sean reveals how laughter shapes well-being, why clean humor is a powerful business strategy, and how comedy can strengthen human connection at work and beyond. This conversation is sharp, funny, and unexpectedly insightful—perfect for anyone curious about the craft, the business, and the psychology behind making people genuinely happier.Love the show? Subscribe, rate, review, & share! https://www.stevenslee.com/

What if the biggest mistakes founders make when raising capital have nothing to do with their pitch -- and everything to do with timing, team, and expectations? This fast paced, founder friendly episode features Alan Wink, recently retired Managing Director of Capital Markets at EisnerAmper, one of the largest accounting and advisory firms in the U.S. With decades of experience in venture capital, private equity, and capital strategy, Alan breaks down what entrepreneurs really need to know before taking on outside investment. What You'll LearnWhy investors bet on people, not products – and why team quality outweighs early metrics.How much to raise and when – the misconceptions that derail founders early.VC vs. PE vs. family offices – who they are, what they want, and how they think.Why coachability matters – and how alignment influences investor decisions.The "game of thirds" in venture capital – and what 10x expectations mean for founders.Why fundraising always takes longer than expected – and how to plan for 18–24 months of cash flow. Alan shares why Investors care far more about future projections and unit economics than historical performance. Founders must show they can solve a meaningful problem, scale efficiently, and deliver returns that match investor expectations. Alan also emphasizes that taking on third party capital is a marriage – one that brings accountability and investor oversight. Alan shares how founders can perform effective due diligence to vet investors as carefully as investors vet companies. Why This Episode MattersAlan’s experience advising technology, life sciences, clean tech, and emerging growth companies gives him a unique vantage point on what separates fundable startups and mid-stage companies from the rest. His guidance is practical, realistic, and essential for any founder preparing to scale. A concise, high-impact conversation packed with insights you can apply immediately.

On this episode of Open for Business, Stuart and Norman welcome Alan Scharfstein, Founder and CEO of The DAK Group, one of the nation’s most trusted advisors to middle-market business owners navigating high-stakes M&A decisions. With more than 750 transactions completed across industries and borders, Alan shares what founders most need to know before they sell: why an unsolicited offer isn’t the same as a true market process, how the right advisor can locate buyers you’d never expect, and why buyers don’t “buy your past” — they buy a company’s future story and the roadmap to growth. You’ll also hear Alan’s candid take on: When it makes sense to not sell — and how the best bankers talk owners off the ledgeWhat sellers obsess over that doesn’t matter to buyers (and what buyers care about most)The most common ways founders unintentionally leave money on the tableWhy “due diligence” can feel like a “colonoscopy without anesthesia,” and how to manage it without losing momentum in the businessHow to evaluate value beyond price: employees, legacy, life-after-sale, and the emotional reality of closing dayRed flags in buyers, deal “retrades,” and how to protect yourself from terms that shift risk back onto the sellerA lightning round of hard-won lessons on handshakes, negotiation mistakes, and what owners should never say at the tableAlan also weighs in on what’s ahead for the deal market — private equity dry powder, increased international interest in U.S. businesses, and why strategic acquirers continue to rely on M&A for growth — plus how AI is reshaping diligence and deal execution without replacing the human judgment that closes great transactions. Whether you may be years from an exit or are getting approached right now, this conversation is a practical masterclass in preparing, positioning, and protecting what you’ve built — so you can maximize value and walk away feeling great about the outcome.Love the show? Subscribe, rate, review, & share! https://www.stevenslee.com/

Family businesses, especially uber-successful and wealthy ones, are often seen as untouchable and otherworldly. But in reality, they are just like any other family: they have their own dynamics and experience inevitable conflicts. Stuart Brown and Norman Kallen chat with Jeff Savlov, Founder of Blum & Savlov, who talks about his consulting work for high net-worth families who balance personal relationships with business transactions and generational wealth. He explains how older and younger generations can work better together, the right way to handle conflicts, and how to properly introduce in-laws in a family business. Jeff also presents strategies on making business transitions as smoothly and conveniently as possible to secure a positive and long-lasting legacy.Love the show? Subscribe, rate, review, & share! https://www.stevenslee.com/

Private equity is an intricate but also rewarding venture – if you just know how to play your cards right. Adam Coffey has been guiding people in learning and mastering the ropes of private equity so they can grow their wealth and secure profitable opportunities. In this conversation with Norman Kallen and Stuart Brown, he details how he became a blue-collar CEO who utilizes the so-called “napkin math” to help entrepreneurs and organizations achieve financial success. Adam also shares how working under Jack Welch and serving in the military influenced his no-BS approach to leadership and coaching.Visit https://www.stevenslee.com/ for more information!

Every workplace must prioritize everyone’s happiness to produce the right results and retain the right people. With the proper grasp of positive psychology, business leaders can elevate their cultures and help the entire team flourish. Exploring this topic with Norman Kallen and Stuart Brown with Leona Brandwene of the University of Pennsylvania and Andrew Soren of Eudaimonic by Design. They discuss how positive psychology can lead to a resilient business, empower employee management, and help address work-related stress. Leona and Andrew also share how they take care of their own well-being and the importance of surrounding yourself with positive individuals.Visit https://www.stevenslee.com/ for more information!

Ever wonder what it takes to turn a political science degree into a multi-million dollar wine empire? Today, we're about to find out! The legendary Gary Fisch of Gary's Wine & Marketplace joins hosts Norman Kallen and Stuart Brown to go behind the scenes of a retail revolution, from navigating unexpected pivots and the challenges of rapid growth, to the surprising impact of a global pandemic on a beloved wine business. If you're an entrepreneur, a wine enthusiast, or just curious about the art of the pivot, this is an episode you won't want to miss. Pull up a chair, and let's pour into Gary's incredible story.Visit https://www.stevenslee.com/ for more information!

Money and family – two of life's most powerful, and potentially volatile, forces. What happens when they collide in the high-stakes arena of a family business? That's exactly what we're exploring today. Family business succession planning is a minefield of emotions, expectations, and often, unwritten rules. Our guest, Adam Blecker, has walked that path. From co-founding a top-tier home healthcare agency with his father and siblings, to facing the unimaginable, and ultimately, orchestrating a successful sale, Adam's journey is a masterclass in resilience and strategic foresight. Get ready for candid insights on navigating difficult conversations, the absolute necessity of documentation, and why sometimes, even happy endings can feel a little somber. This isn't just business; it's profoundly personal. Don't miss it.Visit https://www.stevenslee.com/ for more information!

People often see retirement as a never-ending vacation, a time to relax, and a special opportunity to pamper yourself. But instead of sitting around the house or wandering aimlessly without actual goals, you can make it more fulfilling with the right preparation and mindset. Norman Kallen and Stuart Brown sit down with Joel Malick, author of Afterwork, to discuss how to prepare yourself emotionally and psychologically for a meaningful retirement. Joel challenges the traditional notions of retiring, emphasizing why it must be spent on intentionality, giving back, and finding purpose beyond leisure. He also explains how to properly integrate play during retirement to strike the right balance in achieving personal growth, finding genuine happiness, and securing your finances.Visit https://www.stevenslee.com/ for more information!

One of the absolute truths in running a business is that it will eventually end. Therefore, you must prepare for your business transition as early as you can to lessen the headaches when it finally comes. Laurie Barkman, the Business Transition Sherpa, helps business owners navigate this challenging process. She joins Norman Kallen and Stuart Brown to share valuable advice on preparing for a transition not only financially but also mentally and emotionally. Tune in as Laurie breaks down the benefits of business valuation, the right way to build a transition team, and the different kinds of potential business buyers to keep an eye on.Visit https://www.stevenslee.com/ for more information!

The public’s awareness about their role in building a better future has been waning. More and more people are forgetting their civic duty to do something for the greater good despite not wielding political power. Norman Kallen and Stuart Brown sit down with Colonel Jack Jacobs, a Medal of Honor recipient for his service in the Vietnam War, who discusses how to boost public service and encourage people to take action. Breaking down the most important lessons from his storied career, he explains the importance of adhering to the truth despite rampant misinformation and how businesses can balance revenue generation and culture building. Colonel Jacobs also shares insights on resolving the conflicts in Ukraine and the Middle East, as well as the best way to improve the US government’s treatment of veterans.Visit https://www.stevenslee.com/ for more information!

One of the biggest challenges business leaders face in this modern era is managing multi-generational teams. Bridging the generational gaps is easier said than done, since the Baby Boomers, Generation X, Millennials, and Generation Alpha have their own passions, interests, and needs. Norman Kallen and Stuart Brown explore how to make this work with Dr. Jeremy Graves, a renowned expert in intergenerational collaboration. He discusses how to shape a multi-generational workforce with a competitive advantage by finding unity in diversity. Dr. Jeremy also explains how such a team should collaborate in the most effective way, as well as how leaders should provide them with a culture where they can thrive despite their long list of differences.Visit https://www.stevenslee.com/ for more information!

Managing a business is challenging in itself, but did you ever wonder what running several businesses at the same time looks like? Norman Kallen and Stuart Brown learn exactly that with Multi-business owner Bobby Mascia. In this insightful conversation, he shares his experiences and takeaways as the CEO of Green Ridge Wealth Planning (GRWP) and Mascia Capital Group. Bobby shares his strategies for building a reliable network, sticking to your core values, nurturing a healthy culture, and managing time well. Bobby also opens up on the challenges he faced when he worked in their family business, as well as its valuable lessons that shaped his entrepreneurship success today.Visit https://www.stevenslee.com/ for more information!

Welcome to Open For Business, the podcast exploring the unique challenges faced by business owners today – and how to effectively address them. Join business lawyers Stuart Brown and Norman Kallen as they break down crucial topics about business management, market trends, retirement, work-life balance, and more. Hear valuable words of wisdom from experts and professionals from different industries, from successful entrepreneurs to inspiring authors. Whether you are just starting your journey or currently planning to level up your game, this podcast is a must-listen.Visit https://www.stevenslee.com/ for more information!