Think Like an Owner

In the fourth episode of the show's Right to Win series, host Alex Bridgeman is joined by Aaron Perrine and Lindsey Gray for an AMA-style conversation on search, investing, and operating small businesses. Drawing on real examples from recent deals, they unpack what separates strong searches from stalled ones, how investors evaluate searchers, and where value is actually created post-acquisition. The discussion blends tactical advice with candid reflections on boards, capital structures, and the realities of building durable businesses.

They discuss:

• How searchers can identify and narrow industry theses before and during fundraising
• What investors look for when evaluating searcher talent beyond resumes
• Signs that a search is progressing well, including compounding learning and quality seller meetings
• Common deal pitfalls around quality, valuation, and defensibility
• How boards create value for first-time CEOs and evolving companies

Links:

Pacific Lake Partners

Trilogy Search Partners

Topics:

(00:00:00) - Intro (00:01:54) - Fundraising and identifying industries (00:09:43) - Evaluating searcher talent (00:13:35) - Acquisition models and strategies (00:18:30) - Cap table construction and investor relations (00:20:28) - Navigating investor relationships (00:22:12) - Signs of a successful search (00:24:28) - Key metrics for searchers (00:27:14) - Lessons from recent deals (00:30:42) - Building an effective board (00:35:00) - Creating value in acquisitions (00:38:15) - Desert island CEO picks (00:39:48) - Sports rivalries and fun bets (00:41:45) - Conclusion and farewell

In this episode of Think Like an Owner, Alex Bridgeman sits down with Dan Antonelli to unpack why branding is the foundation of sustainable growth for home service businesses. Dan shares the long arc of building his firm through specialization, the discipline of saying no to the wrong work, and how focusing on being "five-mile famous" can dramatically reduce reliance on paid advertising. The conversation explores how brand decisions influence not just marketing efficiency, but recruitment, culture, and long-term enterprise value.

We discuss:

• Why niching into home services unlocked scale, profitability, and clarity
• The difference between branding, marketing, and advertising and why brand must come first
• How strong brands lower customer acquisition costs over time
• The role of vehicles, mascots, color, and design in creating memorability
• Why internal culture and recruiting are deeply shaped by brand choices

This episode is a must-listen for operators and founders who want to build a brand that drives growth, loyalty, and lasting competitive advantage.

Links:

KickCharge Creative - https://www.kickcharge.com/

Dan on LinkedIn - https://www.linkedin.com/in/danantonelli/

Topics:

(00:00:00) - Intro (00:00:37) - Finding your niche in business (00:04:16) - The importance of branding in home services (00:05:32) - Making data-driven decisions (00:07:51) - Challenges and rewards of specialization (00:09:00) - The value of saying no (00:13:53) - Building brands that change lives (00:27:50) - The impact of branding on recruitment (00:32:30) - The power of a strong brand story (00:35:16) - Effective use of vehicles in branding (00:37:02) - The decline of phone numbers and QR codes (00:41:08) - The role of mascot branding (00:45:17) - The power of color in branding (00:53:36) - Retro vs. modern branding (01:01:49) - Customer experience and brand authenticity (01:07:31) - Final thoughts and recommendations

Alex Bridgeman is joined by Alvin Wong and Jordan Huibers on Think Like an Owner, exploring their long-standing partnership, the focused search that led them to Advanced Aircrew Academy, and the lessons they've carried into running the company. They walk through the origins of their collaboration, how a shared passion for aviation shaped their search thesis, and the discipline required to pursue only the opportunities that truly aligned with their experience and values. They also reflect on the emotional highs and lows of stepping away from a business they loved, only to return months later with deeper conviction and ultimately close the acquisition. Their discussion highlights themes of curiosity, humility, relationship building, and maniacal focus as tools that helped them through both the search and their first year as CEOs.

They discuss: • How Alvin and Jordan developed their industry-focused search thesis and complementary roles within it • The emotional and practical challenges of walking away from an LOI and what ultimately brought them back • Lessons from navigating remote-team dynamics during their first year of ownership • The importance of curiosity, people-orientation, and focus as competitive advantages • Guidance for future searchers on prioritizing effectiveness over efficiency

Links:

Advanced Aircrew Academy - https://www.aircrewacademy.com/

Alvin on LinkedIn - https://www.linkedin.com/in/alvinwongto/

Jordan on LinkedIn - https://www.linkedin.com/in/jordanhuibers/

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Topics:

(00:00:00) - Intro

(00:04:55) - The origin of Alvin and Jordan's relationship

(00:08:16) - The Search and circling in on an industry focus

(00:23:15) - The first few months on the ground post-close

(00:30:47) - How the Search community helped Alvin and Jordan

(00:33:46) - Taking a people-oriented approach to the business

(00:36:51) - Advice for the listeners

In this episode of Think Like an Owner, Alex Bridgeman sits down with T.J. Coombs, an experienced operator and turnaround expert with decades of leadership across industries including building products, manufacturing, and distribution. T.J. shares lessons from his 40-year career helping companies navigate transitions, execute turnarounds, and build strong leadership teams. He discusses his philosophy of defining success by when you leave, the importance of disciplined assessments, and the hands-on approach required to truly understand and improve a business.

They discuss: • How defining success as "when you leave" creates accountability in leadership transitions • Why the best business insights often come from the shop floor, not the boardroom • The mindset and structure required to execute successful turnarounds • How effective CEOs balance strategic vision with time spent in the field • The future of the building products industry and the growing importance of service and technology

Links:

T.J. on LinkedIn - https://www.linkedin.com/in/tjcoombs/

Topics:

(00:00:00) - Intro

(00:01:48) - The drive to lead

(00:05:12) - When you know you're work is done

(00:07:04) - Evaluating WHO you want to work with

(00:12:17) - "Staple yourself to an order"

(00:15:46) - Favorite questions to ask in order to better understand a business

(00:18:08) - How long do you typically spend as an interim CEO?

(00:20:06) - Involvement in hiring the permanent CEO

(00:23:13) - Leading a turnaround business

(00:31:00) - The key jobs of a CEO

(00:42:56) - The state of the Distribution and Install industries

(00:54:41) - Advice to building supply leaders

In this second installment of the Right to Win series on Think Like an Owner, host Alex Bridgeman sits down with Dan Calano to unpack the lessons learned from his journey as a two-time search fund entrepreneur. Dan reflects on his first acquisition of Utility Cloud, navigating challenges like intellectual property disputes and customer concentration, and how trust, discipline, and process shaped his leadership. He then shares what it was like to sell the company, transition through an acquisition, and ultimately launch Grouper Companies and acquire Fleetflo for his second CEO chapter.

They discuss: • Building trust with sellers through transparency, follow-through, and "show me" actions • The importance of hiring slowly, managing talent thoughtfully, and reducing organizational friction • Navigating customer concentration risk and recovering from COVID-era setbacks • The decision-making and emotional process behind selling a company • How Dan approached his second search and CEO role differently, focusing on autonomy, community, and process-driven risk-taking

Links:

Dan on LinkedIn - https://www.linkedin.com/in/dcalano/

Fleetflo - https://fleetflo.com/index.html

Pacific Lake Partners

Trilogy Search Partners

(00:00:00) - Intro (00:04:27) - Dan's background and career (00:10:03) - Building trust and overcoming challenges (00:23:19) - Navigating talent and reducing friction (00:33:01) - Deciding to sell Utility Cloud (00:37:51) - Reflecting on team and autonomy (00:40:23) - Post-acquisition role and insights (00:44:21) - Starting Grouper Companies (00:45:32) - Autonomy and community (00:50:36) - Second-time search and CEO experience (01:04:59) - Approach to risk and decision making (01:11:06) - Conclusion and final thoughts

In this episode of Think Like an Owner, Alex Bridgeman sits down with homebuilder and content creator Matt Risinger to discuss how the builder-supplier relationship is evolving and how technology is reshaping the construction industry. Matt shares the story of founding Risinger Build and Build Show Network, detailing how content creation transformed his business and his approach to education within the trades. The conversation explores how trust, service, and transparency remain the cornerstones of effective supplier relationships, even as digital tools and AI change how materials are ordered and managed.

They discuss: • How Matt built Risinger Build and transformed his blog into a thriving media company through YouTube • Why builder-supplier relationships depend on service and reliability over price • How purchasing groups helped small builders gain better pricing and leverage • The impact of new digital platforms on takeoffs and pricing transparency • The role of content in shaping homeowner expectations and industry standards through Build Show Network and the upcoming Build HD Standard

Links:

Build Show Network - https://buildshownetwork.com/

Risinger Build - https://www.risingerbuild.com/

Build Show on YouTube - https://www.youtube.com/mattrisinger

Topics:

(00:00:00) - Intro (00:01:26) - Matt's journey: From builder to YouTube star (00:07:33) - The birth of The Build Show (00:13:06) - The importance of customer service in building (00:19:58) - Changes in the building supply industry (00:26:15) - The future of semi-custom home building (00:28:42) - Challenges in window and door sales (00:33:10) - The importance of detailed orders and communication (00:37:44) - The role of content in builder-supplier relationships (00:40:18) - Introducing the Build HD standard (00:45:45) - Upcoming events and reflections on the industry

In this episode, Alex Bridgeman sits down with Kyle Baer to reflect on his journey from Accruent to Datacor and now leading Crystal. Kyle shares the lessons he learned sourcing acquisitions, scaling a software business, and ultimately transitioning into his first CEO role. Their conversation highlights the importance of patience, building trust, and embracing the challenges of leadership, while also diving into the practical realities of acquiring and running a company.

They discuss:

• Kyle's career path from Accruent into Datacor and the operational experience he gained
• The core lessons learned at Datacor, including persistence, compounding growth, and the impact of key hires
• The long process of building trust with Crystal's founders and closing the acquisition
• The challenges of moving from operator to CEO and learning to lead through others
• Insights on patience, continuous improvement, and choosing the right partners and investors

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:

Kyle on LinkedIn - https://www.linkedin.com/in/kylebaer/

Crystal Practice Management - https://www.crystalpm.com/

Pacific Lake Partners

Trilogy Search Partners

Topics:

(00:00:00) - Intro (00:05:20) - Kyle's background and career path (00:13:08) - The search fund decision (00:17:59) - The long road to acquiring Crystal (00:23:31) - Navigating the acquisition process (00:26:25) - Building relationships and support systems (00:31:06) - Challenges and learnings as a new CEO (00:42:26) - The importance of patience and continuous improvement (00:50:11) - Hiring the right people and building a strong team (00:51:24) - Final reflections and podcast conclusion

In this episode, Alex Bridgeman talks with Janelle Heuton about her decade-long journey helping transform a small GIS company into a scaled software business serving local governments nationwide. Janelle shares how she joined GIS Workshop by chance, quickly rose to COO, and partnered with CEO Joe Heieck to drive strategic change, including shifting from custom development to SaaS products, completing nine acquisitions, and leading a move to the cloud. She reflects on the phases of her role, from client success to chief product officer, and the lessons learned through scaling, private equity investment, and building strong company culture. Now as co-founder of Heiton Partners, she is applying that experience to acquiring and growing enduring, founder-led businesses.

They discuss:

• How shifting away from custom development opened the door for SaaS growth

• The dynamics of the COO–CEO relationship and executing on a shared vision

• Lessons from integrating products, teams, and clients through nine acquisitions

• Transitioning from execution to strategic leadership with Heiton Partners

• Identifying and developing high-potential future leaders within a company

This episode offers valuable insights for entrepreneurs, executives, and investors navigating growth, acquisitions, and leadership transitions.

Listen 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:

Janelle on LinkedIn - https://www.linkedin.com/in/janelle-heuton-aa238927/

Heiton Partners - https://www.heiton.com/

Topics:

(00:00:00) - Intro (00:01:43) - Janelle's career journey (00:02:29) - Transition to GIS Workshop (00:03:59) - Role evolution and responsibilities (00:08:06) - Challenges and strategic decisions (00:11:55) - Growth and acquisitions (00:28:43) - Private equity and beyond (00:36:30) - Advice for aspiring leaders (00:39:18) - Conclusion and farewell

In this episode of Think Like an Owner, host Alex Bridgeman sits down with John Peterson for a wide-ranging conversation on entrepreneurship, adaptability, and building a service business from the ground up. John traces his path from professional golf—where he saw firsthand the parallels between sports and entrepreneurship—to flipping houses during COVID and ultimately founding Westoplex Garage, a garage door and epoxy floor company based in Fort Worth, Texas. With honest pricing and a service-first mentality, John shares how he grew the business from a two-man team in his garage to a multi-division operation poised for expansion into new markets.

We discuss:

• How John's early golf career shaped his entrepreneurial mindset and approach to financial risk

• Why a $2,200 garage door quote sparked the idea for a new business

• The importance of interpersonal skills over technical experience in hiring technicians

• Lessons learned from starting a service company from scratch versus acquiring an existing one

• The strategic decision to expand into Baton Rouge and the advantages of using private aviation for business

A must-listen for operators and builders interested in the intersection of blue-collar service and entrepreneurial scale.

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:

John on X

Alex on X

Westoplex Garage

Topics:

(00:00:00) - Intro (00:01:10) - John's career as a pro golfer (00:14:53) - Pivoting into the garage door business (00:23:48) - Epoxy vs. concrete floors (00:25:36) - Latest tech innovations in garages (00:27:53) - The self-storage market (00:33:05) - Building a new customer funnel (00:36:48) - Training new technicians (00:37:55) - Recruiting talent (00:40:31) - What to look for in hires (00:43:38) - Why people leave the industry (00:48:02) - Opening a Baton Rouge office (00:52:35) - Growing pains (00:55:17) - What are you most excited about in the next year?

Alex (@Aebridgeman) is joined by Richard Emery (@Richardemery2).

In this episode, my guest is Richard Emery, who has held various notable positions in business aviation sales at brands like Canadair, Bombardier, Gulfstream, and Hawker Beechcraft.

Richard shares his experiences in different sales cultures, managing high-performing teams, and participating in brand turnarounds. The discussion covers his leadership style, team management, and the skills relevant to CEOs.

Additionally, the episode includes entertaining stories about selling aircraft to unique clients, making it an engaging listen for anyone interested in business aviation and sales.

Links:

Richard on LinkedIn

Topics:

(00:00:00) - Intro

(00:01:31) - Richard's career and background

(00:04:41) - How do you organize a high-performing sales team?

(00:14:00) - Identifying ideal customer profiles

(00:23:49) - Developing a customer outreach team

(00:27:44) - Having discipline and focus on a sales team

(00:38:28) - Leadership philosophies

(00:50:08) - What can CEOs do to make their sales teams more effective?