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 companies
• How smaller enterprises are disproportionately targeted -- and why
• The critical role of internal controls (and what happens when they’re missing)
• Why trusted, long-tenured employees can pose unexpected risk
• How workplace culture and leadership style influence fraud exposure
• The surprising ways fraud is discovered -- and why it often isn’t
• Practical, actionable steps business owners can take to reduce immediate risk

We 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 results
• Building strong culture across remote and hybrid teams
• Using employee feedback as a tool for continuous improvement
• Why culture is a strategic risk-management and retention tool
• Successfully merging cultures in M&A transactions
• The multi-generational lens on workplace values and expectations
• How the COVID crisis reshaped corporate culture -- and what leaders must do now
• Preserving 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 Learn

• Why 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 Matters

Alan’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 ledge
• What 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 table
• Why “due diligence” can feel like a “colonoscopy without anesthesia,” and how to manage it without losing momentum in the business
• How to evaluate value beyond price: employees, legacy, life-after-sale, and the emotional reality of closing day
• Red flags in buyers, deal “retrades,” and how to protect yourself from terms that shift risk back onto the seller
• A lightning round of hard-won lessons on handshakes, negotiation mistakes, and what owners should never say at the table

Alan 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!