M&A Launchpad

What It’s Really Like to Buy and Run Small Businesses with Michael Heath

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew talk with Michael Heath—a three-time entrepreneur who has acquired and operated a commercial garage door company, a pool retail business, and a pool construction company. Michael shares the gritty, behind-the-scenes realities of business ownership that you won’t find in the guru playbooks. 
From working at a roofing supply manufacturer to bootstrapping his first acquisition during COVID, Michael discusses how he navigated everything from underpriced jobs and partner dynamics to team turnover and personal burnout. He explains how each acquisition taught him critical lessons that shaped the next, and how being "all in" is often the only way forward. 
Whether you're considering your first acquisition or navigating operational chaos, Michael’s story will resonate. 
In this episode, we discuss: 
How Michael went from commuter school and corporate job to buying three companies 
The lessons from each business that made the next one stronger 
Why margins matter more than revenue 
How a terrible bookkeeper nearly sunk his first business 
What really happens when sellers stay on after the sale 
The power of employee one-on-ones and why he regrets not doing them sooner 
The surprising upside of chaos—and how Michael re-centered himself 
How he's structured investor deals, including 49/51 equity splits 
When it's worth walking away from a deal—even after doing the work 
Contact Michael Heath: 
Connect with Michael on LinkedIn: https://www.linkedin.com/in/michael-heath-biz/ 
Additional Resources: 
Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: https://www.oconnelladvisorygroup.com 
Join our Community at the M&A Launchpad Conference – Premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. https://www.malaunchpad.com 
M&A Launchpad Hosts Contact – Casey Minshew & Feras Moussa Email: info@equitylaunchpad.com 
Looking to buy or sell a business? Connect with the team at Equity Launchpad for expert guidance and hands-on support throughout your transaction. Visit: https://www.equity-launchpad.com 
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/
 

Avoiding Buyer Landmines: Quality of Earnings, SDE Pitfalls, and Buying Right with Elliot Holland

In this high-impact episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew are joined by Elliot Holland, founder of Guardian Due Diligence and the Business Buyer Masterclass. With decades of experience conducting quality of earnings (Q of E) reviews and advising buyers in small business acquisitions, Elliot brings invaluable insight into the due diligence process that every buyer needs to hear. Whether you're a first-time buyer or a seasoned dealmaker, this episode dives deep into critical financial diligence topics, including working capital, seller discretionary earnings (SDE), recourse strategies, and how to leverage brokers during tough negotiations. Elliot also shares real stories of deals gone wrong and how to avoid the most common buyer mistakes. Don’t miss this one—it might save you millions.
In this podcast episode, we discuss:
• What a Quality of Earnings (Q of E) report really uncovers
• How financial diligence helps avoid catastrophic deal mistakes
• Why EBITDA is often misunderstood (and sometimes misused)
• When SDE becomes a red flag instead of a metric
• How to approach working capital negotiations confidently
• Leveraging brokers the right way
• The importance of seller notes and recourse
• Building your deal team and protecting your downside
• Real-life cautionary tales from Elliot’s deal history
• Elliot’s take on when to walk away—and how to spot deception
Contact Elliot Holland:
Website: https://www.guardianduediligence.com 
YouTube: https://www.youtube.com/@GuardianDueDiligence 
LinkedIn: https://www.linkedin.com/in/elliotholland/ 
Additional Resources:
• Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: https://www.oconnelladvisorygroup.com 
• Attend the M&A Launchpad Conference – Upcoming in October 2025. Date and Location TBD. Premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. https://www.malaunchpad.com 
• M&A Launchpad Hosts Contact – Casey Minshew & Feras Moussa: info@equitylaunchpad.com 
• Looking to buy or sell a business? Connect with the team at Equity Launchpad for expert guidance and hands-on support throughout your transaction. Visit: https://www.equity-launchpad.com
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/

Buy a Manufacturing Business and Use Real Estate to Supercharge Growth with Ryder Fyrwald

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew sit down with Ryder Fyrwald, co-owner of a thriving label manufacturing company based in Los Angeles. Ryder shares his journey of acquiring a small business with four employees and growing it into a multi-million-dollar operation—while also strategically leveraging real estate to fuel that expansion.
This episode offers valuable insights into creative deal structures, SBA financing, seller carrybacks, and the benefits of owning the real estate behind your operating business. Ryder's background in tech and real estate finance equipped him with the acumen to navigate complex acquisitions, and he pulls back the curtain on the lessons learned through years of hands-on entrepreneurship.
Whether you're thinking about acquiring your first business or looking to add strategic real estate to an existing portfolio, this conversation is full of practical strategies and inspiration.
In this podcast episode, we discuss:
· Ryder's journey from tech and real estate to small business ownership
· How to finance an acquisition using friends, family, and seller carry
· Why owning the real estate can make or break your deal
· Leveraging equipment leases and capital structures for growth
· Ryder’s approach to finding off-market acquisition opportunities
· The importance of segmentation between partners in operations vs. finance
· What to know about seller psychology and deal creativity in today's market
Connect with Ryder Fyrwald: Website: coverlabel.com Email: ryder@coverlabel.com
Additional Resources: Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O’Connell Advisory Group — your dynamic Quality of
Earnings partner. Visit: www.oconnelladvisorygroup.com
Attend the M&A Launchpad Conference on May 3rd in Houston — a premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. Tickets and details at malaunchpad.com
Access our archive of video interviews on YouTube. Get in touch with show hosts Casey Minshew and Feras Moussa at – info@equitylaunchpad.com Looking to invest in M&A opportunities or partner with an advisor to acquire, scale, or sell your business? Visit www.Equity-Launchpad.com
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/
 

From Family Office to Global Advisor: Stephen Marks' Guide to Smarter Acquisitions

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew welcome special guest Stephen Marks, founder of Emmersion Capital and Apertura. Stephen shares his journey from managing family office portfolios to building a global advisory business focused on cost-effective due diligence and labor solutions through nearshoring.
The conversation dives deep into M&A strategy, talent acquisition in Latin America, and the mindset shift from high-growth investing to long-term wealth preservation. If you’re an independent sponsor, entrepreneur, or lower-middle market investor looking to reduce costs and access skilled labor without sacrificing quality, this episode is for you.
In this podcast episode, we discuss:· How to dramatically reduce due diligence costs· The advantages of nearshoring and talent pools in Latin America· Why family offices prioritize wealth preservation overgrowth at all costs· How independent sponsors can outsource administrative and technical functions· Strategies for solving the skilled labor shortage in niche industries· Building a hybrid model that blends U.S. leadership with offshore talent· Why communication and cultural alignment matter in outsourcing· Key lessons for working with family offices as an entrepreneur or sponsor
Connect with Stephen Marks:LinkedIn: https://www.linkedin.com/in/sdmarks Company: https://emmersioncapital.com Apertura (Talent Solutions): https://apertura.co
Additional Resources:· Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: https://www.oconnelladvisorygroup.com· Attend the M&A Launchpad Conference on May 3rd in Houston — a premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. Tickets and details at https://www.malaunchpad.com· Access our archive of video interviews on YouTube· Get in touch with show hosts Casey Minshew and Feras Moussa at – info@equitylaunchpad.com· Looking to invest in M&A opportunities or partner with an advisor to acquire, scale, or sell your business? Visit: https://www.equity-launchpad.com
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/

Self-Funded vs. Independent Sponsor: Sean Smith Breaks Down the Real Numbers

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew welcome Sean Smith, Managing Partner at Search Fund Ventures and co-founder of SMB Investor Network. Sean brings a transparent, investor-first lens to the world of small business acquisitions, breaking down what dealmakers need to know to structure successful transactions.
The conversation covers everything from capital stack nuances and risk mitigation to understanding investor preferences and step-up dynamics in self-funded search and independent sponsor models. Sean also shares his entrepreneurial journey and mission to democratize private equity for accredited investors.
In this podcast episode, we discuss:· How to structure any deal with the right capital stack· The investor mindset: what matters most in deal evaluation· Why the traditional search model might not be as successful as it seems· Comparing self-funded search vs. independent sponsor deals· How to evaluate deals using MOIC (Multiple on Invested Capital)· Why high debt levels change investor risk profiles· The role of quality of earnings in securing investor capital· How to approach investors with teaser decks and checklists· Real-world lessons from Sean’s portfolio and due diligence· Why transitioning small businesses is a national responsibility
Connect with Sean Smith:Email: sean@searchfundventures.co Website: https://searchfundventures.co SMB Investor Network: https://smbinvestornetwork.com
Additional Resources:· Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: https://www.oconnelladvisorygroup.com· Attend the M&A Launchpad Conference on May 3rd in Houston — a premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. Tickets and details at https://www.malaunchpad.com· Get in touch with show hosts Casey Minshew and Feras Moussa at – info@equitylaunchpad.com· Looking to invest in M&A opportunities or partner with an advisor to acquire, scale, or sell your business? Visit: https://www.equity-launchpad.com
About The M&A Launchpad:
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.

From Marine Corps to Building a Scalable Business with Grit with Dominick Blue

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew are joined by Dominick Blue, a former Marine turned software engineer and acquisition entrepreneur. Dominick shares his inspiring journey—launching Nostra Group, buying two businesses in under a year, and building an AI company to automate operations in home services. He opens up about transitioning from a military background to entrepreneurship, the importance of having a thesis during your search, how he structured his deals, the pitfalls of cash flow management post-close, and how leadership and grit are essential for success.
Whether you’re a first-time buyer or building a holding company, Dominick’s story offers actionable advice, strategy, and serious motivation.
In this podcast episode, we discuss:
· Dominick's path from the Marine Corps to launching Nostra Group
· Lessons from acquiring two companies in 2024 (including HVAC and air duct cleaning businesses)
· How to develop an effective acquisition thesis
· The realities of SDE modeling and cash flow post-close
· Navigating licensing and staffing challenges
· How military leadership skills translate into business operations
· The power of grit and persistence in entrepreneurial success
· Using AI to build digital workforces and streamline operations
· Why automation should be prioritized in lower-middle-market businesses
· Personal reflections on balancing family, business, and growth
Guest Contact Info:
· LinkedIn: https://www.linkedin.com/in/Dominickblue/
· Twitter (X): https://twitter.com/Dominick_blue
· Email: Dominick@nostragroup.com
· Company: https://www.nostragroup.com
Additional Resources:
Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: https://www.oconnelladvisorygroup.com
Attend the M&A Launchpad Conference – May 3rd in Houston. Premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. Get your ticket at https://www.malaunchpad.com and use code LAUNCH for $200 off.
M&A Launchpad Hosts Contact – info@equitylaunchpad.com
Explore more at: https://www.equity-launchpad.com
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/

How to Build Wealth Through a HoldCo Strategy | Dustin Carreon on Buying Businesses That Last

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew sit down with Dustin Carreon, founder of COI Holdings, for a powerful conversation on transitioning from small family business roots to building a successful self-funded HoldCo.
Dustin shares the full arc of his entrepreneurial journey—from collecting scrap metal with his father, to running a multi-million dollar electronics distribution company, to acquiring legacy businesses and compounding their cash flows into generational wealth. He reveals the mindset shifts, strategic decisions, and operational lessons that helped him move from hustler to long-term investor.
Whether you're considering your first acquisition or thinking about scaling into multiple businesses, this episode offers tactical insights and long-term vision from someone who’s actually done it.
In this podcast episode, we discuss:
How to use your first business as a launchpad to acquire others
Building long-term wealth through a buy-and-hold acquisition model
Why culture is a competitive advantage in small business ownership
The power of cash flow compounding across multiple businesses
Connect with Dustin Carreon: · LinkedIn: https://www.linkedin.com/in/dustinCarreon/
Email: dustinc@coiholdings.com · Website: https://www.coiholdings.org
Additional Resources:
O’Connell Advisory Group – Financial diligence and Quality of Earnings experts for business buyers. Website: https://www.oconnelladvisorygroup.com
Attend the M&A Launchpad Conference – May 3, 2025 in Houston Premier event for entrepreneurs and investors in the lower-middle market. Tickets and info: https://www.malaunchpad.com
Explore M&A investing and advisory with Equity Launchpad Website: https://www.equity-launchpad.com
Contact the Hosts, Casey Minshew and Feras Moussa at info@equitylaunchpad.com
About The M&A Launchpad:   
The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur,  we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.
The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community.
Connect with M&A Launchpad: 
🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/

Buy and Grow a Small Business with Grit and Strategy with Jon Staenberg

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew welcome special guest Jon Staenberg, a veteran investor and expert in the search fund space. The conversation explores the growing role of search funds in the transition of small businesses across America and why now is a pivotal moment for aspiring entrepreneurs and investors alike. 
Jon shares his journey, from growing up in a small town to traveling the world, and how those experiences shaped his perspective on entrepreneurship. He discusses the grit and passion required to buy and operate a business, and dives into his personal ventures—including owning a winery in Argentina. With a strong belief in mentorship and community, Jon highlights the need to train the next generation of business leaders to take over the nearly 12 million small businesses facing transition. 
The conversation covers the evolution of the search fund model, global trends, integrating philanthropy, and the increasing role of technology and AI in the M&A space. Whether you're an investor looking to get into search funds or an entrepreneur exploring alternative ways to acquire a business, this episode is packed with insights and actionable takeaways. 
In this podcast episode, we discuss: 
The rise of the search fund asset class 
Why small business transitions matter now more than ever 
How mentorship and community fuel entrepreneurial success 
The economics and models behind search funds 
Why grit and passion are critical traits in operators 
The role of AI and technology in business acquisitions 
Personal stories of taking risks and building a life through entrepreneurship 
You can connect with Jon Staenberg via LinkedIn: https://www.linkedin.com/in/jonstaenberg/ 
Additional Resources: 
Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O'Connell Advisory Group—your dynamic Quality of Earnings partner. Visit: www.oconnelladvisorygroup.com 
Attend the M&A Launchpad Conference on May 3rd in Houston — a premier event for entrepreneurs, investors, and dealmakers in the lower-middle market. Tickets and details at malaunchpad.com 
Access our archive of video interviews on YouTube 
Get in touch with show hosts Casey Minshew and Feras Moussa at – info@equitylaunchpad.com  
Looking to invest in M&A opportunities or partner with an advisor to acquire, scale, or sell your business? Visit www.Equity-Launchpad.com   

Funding Business Acquisition with Your Retirement Account with Jeremy Ames

Join hosts Casey Minshew and Feras Moussa on the M&A Launchpad Podcast as they welcome Jeremey Ames, Co-Founder and CEO of Guidant Financial. With over two decades of experience and a track record of helping 30,000 individuals step into business ownership, Jeremey brings invaluable insights to the table. Together, they explore different routes to entrepreneurship, from leveraging retirement funds to choosing between franchises and startups. Jeremey also breaks down current trends in business acquisitions, while sharing advice on navigating challenges and avoiding common pitfalls faced by aspiring business owners. Don't miss this expert-driven conversation packed with actionable tips for your entrepreneurial journey!
Tune in for an engaging and informative discussion packed with actionable takeaways for anyone involved in M&A or wealth management!
In this episode:
► Using retirement funds to become your own angel investor
► Franchises vs. Startups
► Relationship building for successful deals
► The changing landscape of business acquisition
You can contact Jeremy at: https://www.linkedin.com/in/jeremyamesentrepreneur/
Additional Resources:
Join the M&A Launchpad Community at the M&A Launchpad Conference on May 3rd in Houston. Get your tickets here: https://www.malaunchpad.com/ and use code LAUNCH for $200 Off Access our archive of video interviews on YouTube https://www.youtube.com/@MALaunchpad Get in touch with show hosts Casey Minshew and Feras Moussa at - info@equitylaunchpad.com
Looking to invest in M&A opportunities or partner with an advisor to acquire, scale or sell your business? Visit Equity Launchpad (https://equity-launchpad.com/)

Closing Sellers in an M&A Deal with Nate Pratt

Join hosts Casey Minshew and Feras Moussa on the M&A Launchpad Podcast as they sit down with Nate Pratt, CFA, Vice President of Corporate Development at OneDigital. Nate plays a pivotal role in driving growth in the institutional and wealth advisory space through mergers and acquisitions. With a wealth of experience from leadership roles at Dimensional Fund Advisors, a $575 billion investment firm, and Strategic Investment Solutions, Nate is a seasoned expert in investment consulting and corporate strategy. 
In this episode, Nate shares his expertise on working with sellers, offering listeners a deep understanding of the seller's mindset throughout the M&A process. The conversation uncovers key strategies for navigating seller dynamics, building trust, and fostering meaningful relationships with founders during the sale of their businesses. 
Listeners will gain valuable insights into the importance of early succession planning, the unique challenges tied to generational differences in communication, and the emotional complexities sellers face during transitions. Nate also emphasizes the critical role of face-to-face interactions and highlights the need for a well-structured wealth management plan post-sale. 
Tune in for an engaging and informative discussion packed with actionable takeaways for anyone involved in M&A or wealth management! 
In this episode:
Learn how to understand the mindset of sellers and the emotional challenges they face during M&A processes. 
Discover practical strategies for building trust and meaningful relationships with business founders 
Explore the critical role of early succession planning in ensuring smooth transitions. 
Gain insights into generational differences and their impact on communication and decision-making in M&A. 
Understand the significance of face-to-face interactions in fostering seller cooperation and closing deals. 
Hear Nate’s advice on creating a strong wealth management plan for post-sale success. 
You can contact Nate Pratt at: https://www.onedigital.com/profile/nate-pratt-cfa/  
Additional Resources: 
Join the M&A Launchpad Community at the M&A Launchpad Conference on May 3rd in Houston.  Get your tickets here: https://www.malaunchpad.com/ and use code LAUNCH for $200 Off  
Access our archive of video interviews on YouTube https://www.youtube.com/@MALaunchpad 
Get in touch with show hosts Casey Minshew and Feras Moussa at - info@equitylaunchpad.com 
Looking to invest in M&A opportunities or partner with an advisor to acquire, scale or sell your business? Visit Equity Launchpad (https://equity-launchpad.com/)