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Question of the Day is where I bring you a question to think about engage in some introspection. I hope this brings some positive thoughts and encouragement in your day. Support this podcast: https://podcasters.spotify.com/pod/show/questionoftheday/support
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Search Party

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Search Party is a video-podcast dedicated to elevating knowledge of the Entrepreneurship-Through-Acquisition (ETA) strategy, an increasingly popular model for private investing and wealth creation. The thought-leadership series is hosted by private capital journalist David Snow, and features expert commentary by Next Coast Legacy’s Dustin Sellers and Anthony Walker, two veterans of the ETA strategy. Search Party explores the ”searcher” model for wealth creation in the lower-middle-market, an ...
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Entrepreneur Henrique de Freitas is barely a year into his ETA journey, and he's already the CEO of a lower-middle-market business-process outsourcing company called Reliable Premium. De Freitas tells Search Party the founder of Reliable Premium " built the business over 20 plus years. It had grown into something bigger than he probably ever imagin…
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Artificial intelligence has reached the lower-middle-market, as seen in the case study of Haley, an AI agent deployed by Entrepreneur-Through-Acquisition (ETA) Tyrel Sulzer to win customers for his commercial driving school, TransTech. In a fascinating conversation with Search Party, TransTech co-CEO Sulzer and his investment partner, Dustin Seller…
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Curt Black, CEO of a growing SaaS business, was a successful Google executive before deciding to pursue the path of Entrepreneurship-Through-Acquisition. His ETA journey introduced him to the founder of Aproove, who agreed to be acquired by Black and partners, then called the whole thing off. Black finally managed to acquire the Aproove business in…
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A board of directors should hold the CEO accountable and evolve with the company's growth, say veterans of lower-middle-market business building. In a conversation with Search Party, Megan Webster of law firm Mayer Brown, Max Artz of Peterson Partners and Anthony Walker of Next Coast Legacy share observations about the positive impact a board can h…
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A decline in email response rates is forcing deal searchers to be more creative, says Entrepreneur-Through-Acquisition searcher Christine Koval, currently on the hunt for a lower-middle-market, back-office services business to acquire. In an interview with Search Party, Koval notes the increasing competition to find deals in the vast US lower-middl…
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Professionalizing the finance function of a lower-middle-market business is one of the most impactful forms of value-creation a new CEO can pursue, according to a panel of Entrepreneurship-Through-Acquisition (ETA) market experts. To learn the importance of the finance function in ETA investments, Search Party convened a conversation between Anthon…
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Small insurance brokerages make for "great" Entrepreneurship-Through-Acquisition deals, provided the acquirer has a deep understanding of the industry, says August Felker, an ETA searcher turned CEO of Oberle Risk Solutions. In an interview with Search Party, Felker shares his personal ETA journey to becoming the CEO of a leading lower-middle-marke…
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The relationship between lender and lower-middle-market CEO is a critical factor in the success of ETA deals, say veterans of the Entrepreneurship-Through-Acquisition strategy. This episode of Search Party is about how to get the most from your lender over the lifecycle of an ETA investment, with expert commentary from ⁠Castle Capital ⁠Managing Par…
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As a growing number of MBA students become interested in Entrepreneurship-Through-Acquisition (ETA), a proper understanding of the challenges involved in finding and running a business is essential, say Austin Fruchter and Rohit Datta, Co-Presidents of the Columbia Business School ETA Club. The Columbia ETA Club provides students with exposure to t…
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Failing to strengthen the sales function can undermine the growth of a newly acquired business, a CEO stumble made worse in a leveraged environment, three veterans of the lower-middle-market tell Search Party. Founder-led small businesses often lack structured, scalable sales systems—and the ETA searchers-turned CEOs who acquire them must rapidly d…
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Shortly after acquiring security-camera service ⁠EyeQ Monitoring⁠ nine years ago, Markus Scott had no way of knowing he’d eventually grow revenue by a factor of 24. He was too busy dealing with “a whole list of terrible things” that indicated the business was doomed. In an interview with Search Party, Scott says, before detailing these tribulations…
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An increasing supply of investor capital is chasing business-school students contemplating ETA as a career, and "search-curious" MBA candidates should know the risks involved are manifold, but well worth the journey, according to Matthew Conley and Daniel Lazier, Co-Presidents of the Kellogg School of Management's Entrepreneurship Through Acquisiti…
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Bob Boniface and his ETA search partner went searching for a high quality, blue-collar business in the lower middle market, and found ⁠TransTech⁠, a commercial driver's license (CDL) training business in North Carolina. The business had predictable revenue and competed in an essential, growing market. The seller was impressed with the research that…
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Businesses acquired in the lower-middle-market at single-digit multiples of EBITDA can be sold for double-digit multiples, but only if the new owners improve operations and grow earnings, according to three veterans of the Entrepreneurship-Through-Acquisition (ETA) search-fund market. Multiples arbitrage, seller dynamics, buy-and-build opportunitie…
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Women are making gains toward substantial representation in the Entrepreneurship-Through-Acquisition (ETA) community, and supporting each other along the way. In fact, 17% of ETA searchers in the market are now women. In a fascinating conversation, three ETA leaders compare notes about the appeal of the ETA search-fund career, the advantages women …
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A career move to the Entrepreneurship-Through-Acquisition (ETA) search-fund market may result in any combination of bewilderment, disappointment, wealth creation and self-actualization, according to A. J. Wasserstein, a Senior Lecturer at the Yale School of Management. Wasserstein, himself the builder of two successful businesses, has made entrepre…
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Dustin Sellers and Anthony Walker, Managing Partners at leading Entrepreneurship-Through-Acquisition (ETA) investment firm, Next Coast Legacy, share their personal career journeys through the finance industry to become leading practitioners of the ETA strategy, and comment on the exciting growth of the asset class, the attributes necessary for succ…
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Financial journalist David Snow explains the impetus for the launch of Search Party, a new video-podcast featuring Next Coast Legacy Managing Partners Dustin Sellers, Anthony Walker and a rotating roster of expert guests. On a regular basis, Search Party will delve into topics designed to elevate knowledge of the entrepreneurship-through-acquisitio…
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In this episode I ask about friendships and what quality you think is most important in your friendships. I had the great opportunity to interview a close friend and member of my family Brice Tabor and we had a great conversation about friendship and relationships.--- Support this podcast: https://podcasters.spotify.com/pod/show/questionoftheday/su…
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Episode #4 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS2E4/DBTRpod_S2_E4.mp3 Guess who’s back, back again — it’s true, it’s damn true! With our protest of silence in support of the #firefarrell movement an official failure, Paul and Tim take to the airwaves to place even more blam…
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Episode #3 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS2E3/DBTRpod_S2_E3.mp3 With the recent dust up in Baltimore and the public response from Dustin Pedroia casting a shadow on the Boston Red Sox as they close out the first month of the season, Paul and Tim put on their private i…
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Episode #2 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS2E2/DBTRpod_S2_E2.mp3 Paul and Tim were beyond bullish on the 2017 Boston Red Sox chances to be a frontrunner this season as the team began Spring Training. With baseball in the Winter Wonderland that is the Greater Boston are…
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Episode #1 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS2E1/DBTRpod_S2_E1.mp3 Paul and Tim — you remember them don’t you? — crawl out of hibernation and face the world for the first time without David Ortiz’ smiling face beaming back at them from Fort Myers. The 2017 Red Sox feel l…
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Episode #19 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E19/DBTRpod_S1_E19.mp3 Well, we were all hoping for 11 more wins to cap off a wild October swan song for David Ortiz and the 2016 Boston Red Sox — instead we were given a tip of the cap from an all time great after a prematu…
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Episode #18 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E18/DBTRpod_S1_E18.mp3 It’s October in Boston and the Red Sox are playing more baseball. Does it get any better than that? Well — with 11 more wins it does… Paul and Tim recap the end of the season that lead to an American L…
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Episode #17 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E17/DBTRpod_S1_E17.mp3 Starters delivering – check Bullpen on lock – check Offense rolling – check Cy Young favorite – check MVP favorites – check Hanley on fire – check #windancerepeat – over and over and over again Go figu…
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Episode #16 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E16/DBTRpod_S1_E16.mp3 Baseball fans live for the Pennant Race. Checking the standings every morning, counting magic numbers, keeping one eye on the out of town scoreboard and one eye on the game with your heart in your thro…
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Episode #15 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E15/DBTRpod_S1_E15.mp3 The Red Sox took to the road and turned the dog days of Summer into the hope for a special fall. From out of the depths of one of the darkest parts of the 2016 season, lead by starting pitching, an age…
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Episode #14 Hosts: Paul Testa, Tim Daloisio Guests: none http://media.blubrry.com/firecastatmvn/archive.org/download/DBTRpodS1E14/DBTRpod_S1_E14.mp3 Red Sox fans collective hopes coming into this season sounded something like, “Give me a team that plays meaningful games in September”. And true to those aspirations, the 2016 Red Sox look like they w…
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