In this episode of Think Like an Owner, I sit down with Dave Whorton, founder of Tugboat Institute and author of Another Way, to explore a different path for entrepreneurs—one built on permanence, purpose, and long-term thinking. After an early career in venture capital and tech startups, Dave walked away from the high-growth, high-exit model to focus on what he calls "Evergreen companies."

We talk about the origins of Tugboat Institute and the principles behind Evergreen businesses: profitable growth, deeply held purpose, people-first cultures, and a commitment to staying private. Dave shares stories from multi-generational companies that are thriving by building slowly, investing intentionally, and rejecting the pressure to sell.

We also cover:

• Why Dave left venture capital after working on companies like Amazon and Google

• The seven core values that define Evergreen companies

• How to create long-term alignment between family, founders, and leadership

• The role of independent boards in creating accountability without outside capital

• Why purpose-driven companies often outperform over the long haul

• How to resist short-term thinking in a culture obsessed with exits

This episode is a must-listen for entrepreneurs who want to build something enduring—not just successful. Dave's framework offers a powerful counterpoint to the dominant startup narrative, with practical takeaways for anyone playing the long game.

Dave's new book, Another Way, is available now.

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Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

Another Way by Dave Whorton and Bo Burlingham - https://www.tugboatinstitute.com/anotherway/

Dave on LinkedIn - https://www.linkedin.com/in/davewhorton/

Tugboat Institute - https://www.tugboatinstitute.com/

Topics:

(00:00:00) - Intro

(00:00:44) - Sponsor - Inzo Technologies

(00:03:02) - The Tugboat Institute and Evergreen Companies

(00:03:50) - Dave's Journey in Technology and Venture Capital

(00:08:46) - The Value of Long-Term Family Businesses

(00:29:15) - Governance and Family Harmony in Business

(00:33:13) - Lessons from Multi-Generational CEOs

(00:33:52) - Estate Planning for Founders

(00:35:29) - Curiosity About G3 and G4 Leaders

(00:37:36) - Industry Selection in Evergreen Companies

(00:40:09) - Challenges of Transitioning to a Family Business

(00:43:08) - Alternative Paths to Business Growth

(00:49:36) - Innovative Practices in Evergreen Companies

(00:59:13) - Northgate Markets: A Success Story

(01:02:59) - Concluding Thoughts on Evergreen Companies