This Is the Best $1M EBITDA Business (A Lesson From Talking to 2,000 Business Owners)

Rand Larson helps small business owners beat the loneliness of operating by building tight, ROI-driven peer groups. We dig into what actually works: working-capital traps, hiring/firing discipline, burnout, and why some owners sell just 12–24 months post-close.Scale Path is the sponsor of this episode. If you’re a searcher or operator and want real stories + actionable playbooks from the trenches, check the Scalepath newsletter and peer groups: https://www.joinscalepath.com/Timestamps:00:00:00 - Intro & guest: Rand Larson00:01:43 - What ScalePath is (structure & purpose)00:02:29 - “How I make money”00:03:11 - HVAC acquisition near-bankruptcy story00:05:07 - Genesis of peer groups (therapy → community)00:06:43 - Ad break: Scalepath newsletter (sponsor)00:07:49 - What makes a great event (small, similar, 3-hour format)00:08:37 - Why local organizing is rare (and hard)00:09:59 - Early peer groups = therapy; today = ROI focus00:12:56 - 16 events in ~35 days00:15:01 - Why paid improves attendance (Vistage/YPO comparison)00:16:02 - Niche-based groups: B2B, pro services, local services00:17:17 - Online vs. in-person00:19:20 - Ideal setup: industry peers + local group00:19:35 - Pricing models & member feedback00:20:07 - Price point & ROI framing00:22:32 - The van: $42k “vanlife” for meetups00:23:10 - First trips & momentum00:24:59 - Why the van is standout B2B marketing00:25:59 - Newsletter stories: behind the scenes00:27:47 - Why sell a commercial cleaning business00:29:25 - Talking to $30–50M operators; misery check00:30:38 - Community value for acquisition decisions00:31:28 - Niche example: boat upholstery repair00:32:59 - Hiring lesson: inexperienced vs. experienced owners00:35:08 - Common theme: undercapitalization00:35:33 - “Take every dollar the bank offers” (asset deal context)00:38:29 - ~10% therapy; SBA-debt stress early on00:40:16 - “Real work starts after close”00:40:29 - Join a peer group before the fire (vs. during)00:41:10 - Why experienced owners value peer groups----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuyThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.