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.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

Building Evergreen Companies with Dave Whorton - EP.267