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Why Chasing an Exit Could Be Killing Your Business w/ Dave Whorton

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Apr 29, 2025

Guest

Dave Whorton

In this conversation, Dave Whorton, a tech investor and founder of Drugstore.com, advocates for purpose-driven businesses that prioritize lasting impact over quick exits. He challenges the culture of entrepreneurial sprints to cash out, presenting the concept of 'evergreen' companies. Dave outlines the 7 P's essential for sustainability: Purpose, Perseverance, and more, emphasizing that real strength stems from a solid foundation rather than external funding. He inspires listeners to embrace change and focus on building a legacy.

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INSIGHT

Rethinking Entrepreneurial Success

The current entrepreneurial model narrowly focuses on raising money and exiting quickly.
Evergreen businesses, built without chasing exits, often have stronger foundations and longer lasting success.

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ANECDOTE

Spikeball's Scrappy Comeback

Chris revived Spikeball by producing and selling it after buying the IP while keeping his day job.
His scrappy, privately owned business grew steadily without outside capital, retaining full control and enjoying success.

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ADVICE

Seven P's for Evergreen Businesses

Build your business around seven P's: Purpose, Perseverance, People First, Profits, Private ownership, Pace Growth, and Pragmatic Innovation.
Treat these P's as a system to create a sustainable, lasting company.

Get the Snipd Podcast app to discover more snips from this episode

Rethinking Entrepreneurial Success

03:48 • 13min

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Embracing Growth and Change for Success

17:12 • 3min

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Founders and Future: Traits, Funding, and Talent

20:12 • 11min

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Building Sustainable Businesses: The Value of Endurance in Entrepreneurship

31:40 • 3min

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Building an Evergreen Company

34:59 • 10min

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Navigating Entrepreneurship in an AI-Driven World

45:18 • 5min

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The Reality of Sustainable Entrepreneurship

50:21 • 6min

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#19

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Good to Great

Why Some Companies Make the Leap... and Others Don't

Jim Collins

In 'Good to Great,' Jim Collins and his research team investigate why some companies achieve long-term greatness while others do not. The book identifies key concepts such as Level 5 Leadership, the Hedgehog Concept, a Culture of Discipline, and the Flywheel Effect. These principles are derived from a comprehensive study comparing companies that made the leap to greatness with those that did not. The research highlights that greatness is not primarily a function of circumstance but rather a result of conscious choice and discipline. The book provides practical insights and case studies to help businesses and leaders understand and apply these principles to achieve sustained greatness.

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Built to Last

Successful Habits of Visionary Companies

Jerry I. Porras

James C. Collins

Jim Collins

Jim Collins and Jerry Porras's "Built to Last" examines the characteristics of visionary companies, those that have sustained exceptional performance over long periods. The authors identify key principles that contribute to long-term success, including a strong core ideology, a focus on innovation, and a commitment to continuous improvement. They analyze a range of companies across various industries, identifying common patterns and best practices. The book provides valuable insights for leaders seeking to build enduring and successful organizations. "Built to Last" has become a classic in the field of business strategy.

Jiro Dreams of Sushi is a documentary film that follows the life and work of Jiro Ono, an 85-year-old sushi chef who owns a Michelin three-star restaurant in Tokyo. The film explores Ono's dedication to his craft, his demanding work ethic, and his close relationship with his family. It also delves into the history and culture of sushi, and the importance of tradition and perfection in Japanese cuisine. The film's intimate portrayal of Ono's life and work has resonated with audiences worldwide, making it a critical and commercial success. It has also inspired many aspiring chefs and food enthusiasts to pursue their passions with the same level of dedication and commitment.

#23941

Another Way: Building Companies That Last . . . and Last . . . and Last

Dave Whorton

Dave Whorton's book challenges Silicon Valley's 'get big fast' mentality by advocating for Evergreen companies that prioritize long-term stability, profitability, and purpose over rapid scaling. Drawing from his experience as a venture capitalist and entrepreneur, Whorton presents the Evergreen 7Ps® framework to help leaders create businesses that endure through People First principles and mission-driven strategies. The book combines personal narrative with practical advice, featuring real-world examples of companies successfully implementing this approach.

What If You Built a Business That Could Outlive You?

I sit down today with Dave Whorton, and let me tell you—this conversation is one of the most important ones you’ll hear if you’re serious about building something meaningful. We’re living in a time where entrepreneurship looks more like a sprint to an exit than a commitment to lasting impact. Dave’s new book, Another Way: Building Companies That Last and Last and Last, challenges that broken model and reminds us: success isn't just about cashing out—it's about building something worth keeping.

We break down what it really takes to create an "evergreen" company—one that’s not built to flip, but built to matter. Dave shares the 7 P’s that every sustainable business needs: Purpose, Perseverance, People First, Profits, Privately Held, Pace Growth, and Pragmatic Innovation. He hits home the idea that growth doesn’t mean chaos—done right, it compounds over time and actually gets easier, more joyful, and more impactful. You’re not racing to the exit—you’re building a legacy.

One of the biggest mind shifts we talk about: you don’t have to sell your business for it to be valuable. You don't need $100M in funding to be "legit." Some of the strongest companies—Amazon, Microsoft, Apple—started with almost no venture capital compared to today’s standards. Real strength comes from a strong foundation, scrappy innovation, and a relentless commitment to people and purpose over hype.

I walk away from this conversation fired up because this is real entrepreneurship. It’s the quiet work of building families, communities, and lives that stand the test of time. It’s not just about business. It's about living a life you’re proud of—and leaving something behind that’s bigger than you.

Key Takeaways:

Why building for the long term beats building for a quick exit every time.

The 7 P’s every lasting company needs—and how to use them.

How purpose-driven leadership creates stronger, happier teams.

Why debt and excessive venture capital can destroy your company’s soul.

The hidden financial power of compounding growth over decades.

How to attract and retain talent without giving up your equity.

You don’t have to follow the crowd. You can build something timeless.

Max out.

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