Sign up to save your podcasts
Or
Share Trust the Process: Lessons from a First-Time Business Buyer
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Trust the Process: Lessons from a First-Time Business Buyer
Welcome back to The Entrepreneur’s Journey, hosted by Michael Pallozzi. In this episode, Michael sits down with John Moskola, co-owner of Watson & Sons Plumbing in Western Pennsylvania. With a background in cybersecurity for the Pentagon, John made an unexpected pivot into business ownership through the acquisition of a local plumbing company with his brother. They discuss the challenges of securing financing, navigating the SBA loan process, handling curveballs like environmental studies, and what it takes to successfully grow a family-run trade business in a modern world. This episode offers a candid look at making the leap from corporate life to entrepreneurship—and why trusting the process makes all the difference.
Tune into this episode to also learn:
Tune into this episode to also learn:
● How to creatively finance a business acquisition without large upfront capital.
● Why adapting benefits packages is key to retaining talent in trades.
● The power of clearly divided roles in family-owned businesses.
● How side investments like real estate can support entrepreneurial ventures.
[00:01:01] John’s early exposure to the business and his career journey from IT and cybersecurity to plumbing.
[00:03:47] How John’s brother was approached to buy the plumbing business and the step-by-step acquisition plan.
[00:05:00] The funding process: SBA loans, seller financing, and borrowing from personal assets.
[00:07:56] Handling last-minute hurdles—like environmental surveys—during the buying process.
[00:08:16] Transitioning from cybersecurity to entrepreneurship with a young family and financial planning.
[00:10:07] Facing seasonality and industry slowdowns, especially during election years.
[00:11:35] Balancing partnership roles: operations vs. administrative vision.
[00:13:39] Modernizing the trade business by offering benefits and retirement plans.
[00:17:13] Expansion strategy: Opening a second location and adding new service lines.
[00:19:33] Balancing business ownership with family life and four kids.
[00:22:20] Diversification: Investing in real estate and long-term strategic planning.
[00:25:28] Future vision: Acquiring additional service businesses to build a one-stop home services company.
[00:26:29] John’s closing advice: Trust your gut, trust your team, and trust the process.
- You don’t need a large amount of cash to buy a business—creativity and the right team make all the difference.
- Modernizing trade businesses with strong benefits and culture can be a competitive edge for recruiting and retaining talent.
- Entrepreneurship is not just about growth—it’s about having a clear process, a supportive team, and the discipline to stay focused.
Useful Links
Connect with Michael Pallozzi: https://www.linkedin.com/in/michaelpallozzihfm/
Like what you’ve heard…
Learn more about HFM HERE
Schedule time to speak with us HERE
View all episodes
By HFM Investment Advisors, LLC
5
22 ratings
Welcome back to The Entrepreneur’s Journey, hosted by Michael Pallozzi. In this episode, Michael sits down with John Moskola, co-owner of Watson & Sons Plumbing in Western Pennsylvania. With a background in cybersecurity for the Pentagon, John made an unexpected pivot into business ownership through the acquisition of a local plumbing company with his brother. They discuss the challenges of securing financing, navigating the SBA loan process, handling curveballs like environmental studies, and what it takes to successfully grow a family-run trade business in a modern world. This episode offers a candid look at making the leap from corporate life to entrepreneurship—and why trusting the process makes all the difference.
Tune into this episode to also learn:
Tune into this episode to also learn:
● How to creatively finance a business acquisition without large upfront capital.
● Why adapting benefits packages is key to retaining talent in trades.
● The power of clearly divided roles in family-owned businesses.
● How side investments like real estate can support entrepreneurial ventures.
[00:01:01] John’s early exposure to the business and his career journey from IT and cybersecurity to plumbing.
[00:03:47] How John’s brother was approached to buy the plumbing business and the step-by-step acquisition plan.
[00:05:00] The funding process: SBA loans, seller financing, and borrowing from personal assets.
[00:07:56] Handling last-minute hurdles—like environmental surveys—during the buying process.
[00:08:16] Transitioning from cybersecurity to entrepreneurship with a young family and financial planning.
[00:10:07] Facing seasonality and industry slowdowns, especially during election years.
[00:11:35] Balancing partnership roles: operations vs. administrative vision.
[00:13:39] Modernizing the trade business by offering benefits and retirement plans.
[00:17:13] Expansion strategy: Opening a second location and adding new service lines.
[00:19:33] Balancing business ownership with family life and four kids.
[00:22:20] Diversification: Investing in real estate and long-term strategic planning.
[00:25:28] Future vision: Acquiring additional service businesses to build a one-stop home services company.
[00:26:29] John’s closing advice: Trust your gut, trust your team, and trust the process.
- You don’t need a large amount of cash to buy a business—creativity and the right team make all the difference.
- Modernizing trade businesses with strong benefits and culture can be a competitive edge for recruiting and retaining talent.
- Entrepreneurship is not just about growth—it’s about having a clear process, a supportive team, and the discipline to stay focused.
Useful Links
Connect with Michael Pallozzi: https://www.linkedin.com/in/michaelpallozzihfm/
Like what you’ve heard…
Learn more about HFM HERE
Schedule time to speak with us HERE