Stewards, Not Owners
Eric’s story begins in entrepreneurship.
He helped grow and eventually sell his family’s insurance business. The exit was successful. The earnout was strong. But it was during that liquidity event that he realized something critical.
He had made “a ton of giving mistakes.”
Like many founders, he waited until the sale to think strategically about generosity. And while he and his wife had a heart for giving, they didn’t fully understand the power of asset-based giving or how to structure it wisely.
That realization eventually led him to join National Christian Foundation, where he now helps entrepreneurs avoid those same mistakes.
The core shift?
We are not owners. We are stewards.
That one mindset change reframes everything. The question stops being, How much should I give? and becomes, How much should I keep?
Why Giving Should Start Earlier Than You Think
One of the most powerful themes of this conversation is simple: start early.
Eric shared the story of a founder who committed from day one to give away 50 percent of company profits. Not after an exit. Not after hitting a number. From the beginning.
That commitment shaped everything:
- It capped lifestyle creep.
- It aligned leadership.
- It embedded generosity into company culture.
- It created accountability.
And decades later, that business has mobilized tens of millions annually for impact.
Eric’s warning is clear. If you wait until your company is worth hundreds of millions to start thinking about generosity, it will be exponentially harder to shift your lifestyle, your structure, and your heart.
Generosity is a muscle. It must be trained early.
The Donor-Advised Fund: A Smarter Tool for Entrepreneurs
Chris and Eric unpacked one of the most practical tools for business owners: the donor-advised fund.
Think of it as a charitable checking and investment account.
You contribute assets into the fund. You receive the tax deduction at fair market value. And then you recommend where those funds are invested and ultimately granted.
But here’s where it gets powerful.
Instead of giving cash, entrepreneurs can give appreciated assets:
- Stock portfolios
- Real estate
- Business interests
- Intellectual property
- Oil and gas rights
When structured properly, this can:
- Avoid capital gains tax
- Reduce income tax
- Maximize the charitable deduction
- Increase overall giving impact
It’s not about gaming the system. It’s about stewarding wisely.
As Eric reminded us, we live under one of the most generous charitable tax structures in the world. The question is whether we use it.
Avoiding the Private Equity Trap
This conversation took an important turn when Chris and Eric discussed what often happens after an exit.
Eric shared that after selling his business, private equity pushed him to cut half his staff to boost EBITDA.
He refused.
“More often than not, those great things that we put into things to make a great culture… are the very things that actually make us a profitable business.”
When short-term financial engineering replaces long-term stewardship, culture suffers.
The solution?
Think beyond the five-year fund cycle.
There is a growing movement toward perpetual capital, kingdom-aligned investing, and building companies meant to last for generations. In some cases, charitable capital inside donor-advised funds can even be deployed into impact investments that sustain businesses rather than strip them.
For founders who care about legacy, that conversation matters.
Inheritance, Legacy, and Generational Impact
The question always surfaces: how much should I leave my kids?
Eric shared a framework built around three types of capital:
- Spiritual capital
- Character capital
- Financial capital
If spiritual and character capital are not solid, transferring financial capital can do harm.
Instead of waiting until children are 60 years old to inherit wealth, some families are accelerating inheritances earlier in life, when it can shape careers, faith, and calling.
Others use financial capital to build spiritual and character capital — funding mission trips, family retreats, camps, and experiences that form identity.
Legacy is not just about money. It is about formation.
The Giver’s High
Near the end of the conversation, Eric shared a moment that says it all.
An 80-year-old entrepreneur once told him, “You know there’s a runner’s high? I think there’s a giver’s high.”
Generosity is not obligation. It is joy.
And when giving becomes integrated into your business model, your leadership, and your identity, it transforms from a line item into a lifestyle.
Closing Reflection
Most founders build with intensity. They optimize margins. They study EBITDA. They negotiate valuations.
But what if generosity was built into the operating agreement from day one?
What if exit planning included impact planning?
What if the measure of success wasn’t just the sale price — but the lives changed along the way?
As Eric challenged listeners:
“Look for one practical aspect that you can put into place today.”
Start small. Start early. Start intentionally.
Because the goal is not just to build a valuable business.
It’s to build a business that lives beyond you.
Resources Mentioned
- Stewards Not Owners by Dana and Bill Wichterman
- The Good Investor by Robin John
Thank you for joining us for this episode of The Exceptional Business Podcast. Stay tuned for more conversations that help you build, scale, and steward exceptional companies.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!! You can check that out and subscribe to YouTube.
If you want to know more about Eric Most, you may reach out to him at:
- Website: https://www.ncfgiving.com/
- LinkedIn: https://www.linkedin.com/in/ericmost/
Connect with Chris Seegers:
- Website: https://exceptionalcos.com/
- Email: Ch***@************OS.com
Other Resources:
- Books: Selling Main Street by Chris Seegers
