What if you got exactly the number you dreamed of—and it was still the wrong decision? Danny Namerow built Farryn Electric from scratch on lessons his electrician father taught him the hard way: diversify, don't work for builders, and never let one client own your business. He pivoted to service work, adopted flat rate pricing, built a tight crew of six, and watched his margins soar. 

Then a private equity firm called three times. On the third call, he listened—and walked away with 12 times EBITDA. Within a year, he'd watched them lose 90% of his customer base. Danny opens up about the earn-out nightmare, what he'd negotiate differently, and the business fundamentals that made Farron sellable in the first place. He found his Costa Rica anyway. But he'd tell you there was another path to get there.

Here's what we discuss with Danny:

• Why Danny's father drilled one rule into him: never work for builders
• The pivot from new construction to service work — and how it changed everything
• How flat rate and package pricing unlocked margins he couldn't hit on time-and-materials
• Why a tight crew of six outperformed larger, less focused teams
• The three calls from private equity — and why he finally picked up
• What 12x EBITDA actually looks like when the check clears
• The earn-out nightmare: how PE lost 90% of his customer base in under a year
• What he'd negotiate differently if he did it again
• Why having a second buyer in the room changes everything
• How he found his version of Costa Rica — and whether the sale was the only path to get there12x EBITDA—and Still Regrets Selling

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links:
• Learn More: https://www.iconicfounders.com
• Connect: [email protected]
• Podcast Production: Lower Street https://lowerstreet.co

Jay Maier started a tree service company in Rochester, Minnesota at 29. No business background. Parents were educators. He paid himself $36,000 a year on $180,000 in revenue and reinvested everything else into equipment and people. He scraped, clawed, and grew—slowly and conservatively.

The real shift came around 2005 when Jay stopped doing the work and started developing the people who did it. He realized his best value wasn't trimming trees—it was making sure everybody knew exactly what to do. That mindset change took him from a self-employed tradesman to a business owner. By 2013, he was doing $2 million, had no debt, and genuinely didn't want to sell. Then his wife was diagnosed with stage four cancer. That changed everything.

Jay sold to a national company, completed a three-year earnout, and walked away. But he wasn't built to sit still. He started consulting blue-collar businesses, then took a GM role at a 50-year landscape company in his hometown—no ownership, just a third of the profits and a chance to follow someone else's vision. Six years later, the business had grown 75%. He's still there, still fulfilled, still building.

Here's what we discuss:
• Starting from scratch at 29 with no business background and no financial head start
• Why he paid himself $36K on $180K in revenue—and why that discipline made the difference
• The moment he stopped doing the work and started developing the people who did it
• Why people development is your "future ticket" — and what happens when you forget that
• The difference between producing work and building a business that does work
• How a leader's ability to see five years out changes everything about their day-to-day decisions
• Selling at $2M in revenue, debt-free — and why he almost didn't sell at all
• His wife's stage four cancer diagnosis and how it changed the calculus entirely
• The three-year earnout and what it felt like to let go of his life's work
• What he learned about money, ownership, and fulfillment on the other side of the deal

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links:
• Learn More: https://www.iconicfounders.com
• Connect: [email protected]
• Production: Lower Street https://lowerstreet.co

Jerry Schill spent 20 years building a landscaping business with his brother. Design-build, residential, creative work—chasing every shiny object along th way. But then they split. 

Jerry took the maintenance side and rolled back to $3 million. He'd admit that he was scared. But he got laser-focused. And from 2012 to 2019, he took the business from 0% recurring revenue to 93%. 

He ditched residential entirely, built a "business in a box," and grew to $16.5 million before partnering with Argon Capital. Four years later: 37 locations, 1600 employees, eight states, nearly $200 million in revenue, and best-in-class EBITDA margins. The lesson? Focus and discipline beat chasing shiny objects every time.

Here's what we discuss: 
• Starting with his brother and why they eventually split 
• Rolling back to $3M and being scared to start over 
• Going from 0% to 93% recurring revenue 
• Why he eliminated the entire residential division in one year 
• Building the "business in a box" model 
• Joining Vistage and surrounding himself with smarter people 
• Why his bank said no—and how he found PE instead 
• Partnering with Argon Capital and what they taught him 
• The difference between an expense and an investment 
• Imposter syndrome at 1600 employees 
• Growing from 4 locations to 37 in four years 
• Recapitalizing with TruArc Partners 
• Why every business should be built to sell

Running a blue-collar business? Thinking about selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links: 
• Learn More: https://www.iconicfounders.com 
• Connect: [email protected] 
• Production: Lower Street https://lowerstreet.co

Tony Mallinger joined his family's roofing products manufacturing company in 2001. His dad bought it in the late eighties for about $2 million. By the time Tony led the first sale in 2020, it was doing $62 million. Four years later, after two acquisitions under private equity, they sold again—for $410 million.

But this isn't just a growth story. It's a family business story. Three brothers, a father who wanted to treat everyone the same, and years of misalignment that made the success feel hollow. Their best year ever? Everyone was miserable. That's when Tony knew it was time to sell. He pushed for a fiduciary board, hired the best M&A attorney and banker, and signed the purchase agreement two weeks before COVID hit. The family relationships got rough after the first sale. The good news They're better now. But the lesson is clear (and it's a rather common one): you can win the deal and still have wounds to heal.

Here's what we discuss: 
• How his father—an accountant—bought a $2M manufacturing company 
• Growing from $10M to $62M through strategic accounts and speed-to-market 
• Working with two brothers and a father—and why alignment was the hardest part 
• Setting up a fiduciary board with real governance 
• How his father transferred 90% of equity to the kids early 
• The moment everyone was miserable after their best year 
• Signing the purchase agreement two weeks before COVID 
• Staying on as CEO and buying their #2 competitor six months later 
• Going from $62M to $130M in four years 
• The second exit at $410 million

Running a blue-collar business and wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or reach out to [email protected].

Bryan Carruthers started his first company in the middle of the 2008 financial crisis, right after college. A tiny consulting firm called Consilium. He sold it to a publicly traded business a few years later. Then he went the private equity route—got backing, bought a 15-person shop, and built it into a national $50 million EBITDA business in under five years. Then he sold it to one of the largest consulting firms in the world.

Most founders are obsessed with ownership percentage. Bryan was obsessed with acceleration. He gave away two-thirds of his first company to partners who knew more than he did. He took 5-10% in a PE-backed roll-up because he knew he could build something bigger, faster. He called it "ignorance as a superpower"—jumping before he knew what he was doing, then bringing in the pieces to make it work. Three exits. Each one bigger than the last. And he never owned more than a third of any of them.

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links: 
• Learn More: https://www.iconicfounders.com 
• Connect: [email protected] 
• Production: Lower Street https://lowerstreet.co

Chris Meyer didn't stumble into entrepreneurship—he trained for it. Two and a half years at Ernst & Young, 400 business plans reviewed, and a clear list of criteria for what he wanted. In 2006, he found it: a $5-6 million materials company called Mintech that specialized in turning industrial byproducts into construction and environmental solutions. He was 27, had never worked in the industry, and put everything on the line to buy it.

What happened next sounds insane on paper. Take-or-pay contracts where he paid for materials whether he had buyers or not. Expanding into markets where he had no customers. Signing liabilities before he had revenue. But Chris wasn't gambling—he was calculating. Exclusivity clauses before he signed anything. Relationships with suppliers so deep that when 2008 hit and his suppliers went offline, they worked with him instead of against him. He turned crisis into opportunity, figured out logistics on the fly, and kept his customers whole even when it cost him.

Sixteen years later, he sold to a strategic partner—a supplier he'd known for over a decade—for $72 million. Majority cash upfront, three-year employment agreement, and a piece of the upside. He and his wife shared part of the exit with the entire team. Now he's reprioritizing: time with family, giving back through the Boys & Girls Club, and staying open to whatever's next.

Here's what we discuss:

• Growing up with entrepreneurial parents and learning business at the kitchen table
• How he reviewed 400 business plans before finding the right one
• Buying a $5-6M company at 27 with seller financing and bank debt
• Why he did nothing for the first six months after acquiring the business
• Take-or-pay contracts: the calculated risk that fueled explosive growth
• How the 2008 crisis forced him to expand geographically—and why that was a good thing
• Treating suppliers, carriers, and customers all like customers
• Building storage infrastructure to smooth out the highs and lows of construction
• The oil and gas boom and how customers pulled him into new markets
• The two-to-three year courting process that led to the sale
• Why he took majority cash instead of rolling equity
• Sharing the exit with his team—and why it mattered
• Reprioritizing life after the deal: family, community, and what's next

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links:

Learn More: https://www.iconicfounders.com

Connect: [email protected]

Production: Lower Street https://lowerstreet.co

Tom Heaviland bought a one-truck landscape company with his dad in 1985. They each put up $11,000. Thirty-five years later, he sold it to BrightView—the largest player in the industry—for millions. But getting there wasn't linear. He lost his biggest contract overnight when a developer pulled out. His dad died suddenly in 1997. And for seven years, he was stuck splitting everything 50/50 with his stepmom who even didn't work in the business.

The real turn came when Tom stopped asking "how much can I make?" and started asking "what's this worth?" At 57, he got serious about value—not revenue, not profit, but what a buyer would actually pay. He shut down the construction division. He focused on recurring revenue and high-margin enhancement work. He surrounded himself with the right people and stopped being slow to fire. In five years, the business went from $5 million to $15 million, and margins jumped to the mid-50s.

Tom closed in November 2019. Four months later, COVID killed his earnout. But he'd already taken his attorney's advice: be happy with the deal you have, because nothing's guaranteed. He's 68 now, still working, still loving it. His one regret? Not measuring value sooner. Those last five years—when he finally got serious—that's when the real money got made.

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links:
Learn More: www.iconicfounders.com
Connect: [email protected]
Production: Lower Street www.lowerstreet.co

Kris Birch started working in his dad's lawn and snow business in 2005. Fifteen years later, he sold it to a national brand. The deal looked good on paper, but within a year, most of the team was gone and the business had been absorbed into corporate machinery. When he finally walked away, he discovered something important: he'd already started building his next company.

But Kris’s story is a little different because most founders think you only get one shot at an exit. Kris got two. After the first sale fell apart, he and his business partner Tony built a tree care company from scratch. Six years later, they sold again, this time to private equity. Different buyer, different structure, different outcome. The second time around, Kris knew which questions to ask. Live and learn.

Here's what we discuss in this episode:

• Why working with family requires a third party to navigate the hard conversations

• How Kris transitioned from his dad's lifestyle business to a growth-focused operation

• The moment he realized he wasn't good at operations—and who he brought in to fix it

• What recurring revenue and service diversification did for his business valuation

• Why his first exit to a national brand didn't go as planned

• The difference between selling to corporate acquirers vs. private equity

• How peer groups and EOS transformed the way he ran his businesses

• What due diligence actually feels like (spoiler: everyone hates it)

• Why the second sale was faster, smarter, and more aligned with his values

• His advice to young founders: do hard things, then recover intentionally

Running a blue-collar business? Wondering how to think about value or selling? Iconic Founders Group helps founders like you explore what's next. If you're doing over $2M in profit, check us out at iconicfounders.com or send us a message at [email protected].

Iconic Links:

Learn More: https://www.iconicfounders.com

Connect: [email protected]

Production: Lower Street https://lowerstreet.co

Today’s guest is Adam Mopsick. Adam started a construction business in Miami in 1996. Twenty-five years later, he sold it to private equity for life-changing money. The 2008 recession killed his GC business and forced him to reinvent, building an owner's rep firm from scratch that grew every quarter for six years. When he finally got the exit everyone dreams of, he discovered the hardest part wasn't the deal. It was figuring out who he was without the business.

Most founders think the exit is the finish line. Adam learned it's just the starting gun for a different race. He stayed with the acquirer less than a year before walking away. For 25 years, his business had been his identity—his team, his purpose, his daily mission. When that disappeared, the money didn't fill the void. He tried fishing. He may have become slightly obsessed with padel. But what he needed was another mountain to climb. Two years later, he's sitting on boards, mentoring and coaching founders, and advising a variety of startups. His non-compete is almost up. And he's starting to get the itch again.

Use code ICONIC for 15% OFF your next Salt of the Earth order: https://drinksote.com/ICONIC

Here's what we discuss:

• Why construction's "terrible service" is actually a massive opportunity
• How recurring revenue business models trade at higher multiples than project-based work
• The real difference between running projects and building a business
• What private equity actually looks for in acquisitions (and which ones are founder-friendly)
• Why the hardest part of an exit isn't the deal—it's the identity crisis that comes after
• What it feels like when the business you built becomes someone else's
• How to think about your next chapter when the thing that defined you is gone

Iconic Links:
Learn More: https://www.iconicfounders.com/
Connect: [email protected]
Production: Lower Street https://www.lowerstreet.co/

Welcome to The Turn.

Host Kory Mitchell sits down with blue-collar business owners who've built something real—businesses like HVAC, landscaping, pest control, tree services, roofing, and construction.

These are honest conversations about the challenges, the lessons, and the moments that changed everything. Not M&A theory or deal structures, but the real stories from founders who've scaled and sold. The challenges that nearly broke them. What they wish someone had told them before they sold. And how their lives changed after the exit.

Kory's been there himself. He's built businesses and sold them. He understands the questions blue-collar founders are wrestling with about burnout, empowering others, charging what you're worth, and figuring out what comes next. Because the real story isn't just how you got here, it's about the lessons along the way.

The Turn is a podcast from Iconic Founders. New episodes bi-weekly starting Wednesday, February 11, 2026.

About Iconic Founders

Iconic Founders works with blue-collar business owners who are navigating growth, scale, and exit. To learn more, visit iconicfounders.com.