Shoot the Moon with Revenue Rocket

Buyers treat your month-end close as a maturity test. Closing inside two weeks reads as a well-run business. Taking two months invites questions, no matter how good the underlying numbers turn out to be.   In part 4 of the CEO Optional series, Mike Harvath, Ryan Barnett, and Matt Lockhart look at what happens when the real financial picture of an IT services firm lives only in the owner’s hea...

There is a point in every growing firm where the founder stops being the engine and starts being the bottleneck. In Episode 259 of Shoot the Moon , Mike Harvath, Ryan Barnett, and Matt Lockhart continue the Owner Optional masterclass with the person who fixes that: a real second in command. They cover how to know when the business has outgrown your capacity, what separates a number two from a stro...

Owner dependency is the quiet risk that caps valuations in IT services M&A. If every decision, client relationship, and process runs through the founder, buyers see a single point of failure and pay less for it. In this episode of Shoot the Moon , we break down how to get the business out of your head before you sell. We cover why buyers discount founder-run companies, what to document first, how...

In IT services M&A, owner dependency is one of the biggest hidden discounts on your company’s value. This episode shows how to build an owner optional firm that buyers pay a premium for without pretending leadership does not matter. Revenue Rocket kicks off a new Shoot the Moon masterclass on reducing founder dependency before a sale or recapitalization. We break down why buyers price owner depend...

IT services M&A is in one of its most active stretches in years. We explain how private equity defines the market, the platform and tuck-in roll-up strategy behind most deals, and how AI is separating premium platforms from commoditized providers. You will also hear which segments are hot, which are cooling, and the exact questions to ask when an investor calls. Timestamps & Chapters 0:00 – Why pr...

Revenue Rocket’s Mike Harvath, Ryan Barnett, and Matt Lockhart break down the real reasons founders delay an exit, and why the safest-feeling choice is often the most expensive. This episode of Shoot the Moon covers the “one more year” trap, founder dependency, succession planning, derisking customer concentration and contracts, and why knowing your valuation is the first move in IT services M&A....

Vertical specialization is one of the most reliable ways to raise both growth and valuation in IT services M&A. In Episode 254 of Shoot the Moon, we break down how focusing on one or two industry verticals, and building the sales team to match, makes an IT services firm worth more to buyers. Most IT services firms start as generalists because it is the fastest path to revenue. But in a market wher...

Selling an IT services company is far more likely to close and typically sells for about 20% more when you use a specialist M&A advisor instead of going it alone. Here is what the data shows and what an advisor actually does to improve the outcome. In this episode of Shoot the Moon , the Revenue Rocket team breaks down the real economics of IT services M&A: why most owner-led sales never close, ho...

In IT services M&A, depending on a single platform or channel partner is a valuation risk, not a strength. This episode breaks down what happens to your firm's value when a vendor changes its pricing, partner tiers, or lead flow, and what the most acquirable IT services firms do instead. Chapters (verify exact times against the final cut) 0:00 Cold open 0:30 Why channel partners matter, and why de...

Most first acquisition offers are not the best offers. If a buyer has approached your MSP or IT services company out of the blue, this episode walks through how to evaluate that offer, what a letter of intent actually binds you to, and why bringing in an advisor before you sign protects both your price and your optionality.   CHAPTERS 0:00 Why most first offers are not the best offer 1:45 What cha...

Your friend sold for a great multiple. PE pays more than strategics. Earnouts are a trap. Wait for the right market. You're too small to sell. Here's what's actually true. ━━━━━━━━━━━━━━━━━━━━━━━━ TIMESTAMPS 00:00 Intro 00:20 Welcome and Episode Setup 02:00 Myth 1: "My Friend Sold for X EBITDA, That's My Benchmark" 07:30 Myth 2: "PE Always Pays More" (Or "Strategics Always Win on Price") 13:00 Myt...

  OTHER EPISODES IN THIS SERIES: Part 1. Knowing When It’s Time to Sell:  Listen now >> Part 2. Get Your House in Order:  Listen now >> Part 3. Valuation Drivers:  Listen now >> Part 4. What is my Take Home?  Listen now >> Part 5. It Takes a Village.  Listen now >> Part 6. The First 30 Days of a Process.  Listen now >> Part 7. Finding the Right Buyer.  Listen now >> Part 8. Deal Structures 101.  L...

Closing the deal is not the finish line. It is the beginning of the next chapter. In this episode of the Seller Master Class Series, Mike, Matt, and Ryan walk through what sellers should expect after a transaction closes. They cover how to protect customer confidence, reassure employees, establish communication cadence, and prioritize the right operational changes without disrupting service delive...

Key takeaways The LOI is not the final deal. It is more like a handshake on price and core terms, while definitive agreements create the legally binding structure of the transaction. The focus shifts from headline economics to risk allocation, including representations, warranties, indemnification, escrows, working capital, and earnouts. Sellers should expect multiple transaction documents, includ...

EPISODE 245.  Key Takeaways: What due diligence is: The buyer’s inspection/audit of the seller’s business to confirm the story, financials, contracts, and assumptions made pre-LOI. The emotional shift for sellers: Post-LOI can feel like “we’re done,” but diligence is often the most challenging phase and can be exhausting and distracting. Why buyers do it: Risk mitigation and validation, plus ident...

In this installment of the Sell Side Master Class, Ryan and Mike break down deal structure, the terms behind the headline enterprise value and why structure can matter as much as (or more than) price. They walk through the most common components of consideration in IT services M&A: cash at close, earnouts, seller notes, and rollover equity , including where each can create upside and where hidden...

Other Episodes in this Series Part 1. Knowing When It’s Time to Sell:  Listen now >> Part 2. Get Your House in Order:  Listen now >> Part 3. Valuation Drivers:  Listen now >> Part 4. What is my Take Home?  Listen now >> Part 5. It Takes a Village.  Listen now >> Part 6. The First 30 Days of a Process. Listen now >> Listen to Shoot the Moon on  Apple Podcasts  or  Spotify . Buy , sel...

What does it really feel like when you decide to sell and the process officially begins? In this Sell-Side Master Class episode, we walk through month zero and the first 30 days of a sell-side process: the pre-market foundation, the time commitment, and the “transfer” that has to happen so an advisor can speak like they’re part of your team. We cover the core information you’ll be asked to assembl...

Key takeaways Start building your advisor relationships 6–12 months pre-exit —waiting until LOI puts the close at risk (“time kills all deals”). Your M&A advisor is the quarterback : runs the process, manages buyer psychology, protects your time, and helps prevent value leakage and retrades. Advisor red flags : guaranteed above-market multiples, vague deliverables, weak references, and “exclusive”...

What we cover Enterprise value vs. net proceeds: why the headline number isn’t the check you cash The biggest “below-the-line” items that reduce proceeds: Taxes (often the largest bite) Debt payoff in cash-free, debt-free deals Working capital targets and true-ups Professional fees ( M&A , legal, tax, accounting/QoE) Timing vs. reduction: how escrow/holdbacks and seller notes can delay (not always...

What Your Business Is Worth: Valuation Drivers for Tech-Services Firms Valuation vs. EBITDA multiple: why they’re not the same thing Buyers price future performance and confidence in future cash flows Revenue quality premiums/discounts: recurring/contracted revenue, churn, concentration Adjusted EBITDA + add-backs: what’s “clean” vs. what gets rejected Specialization + growth consistency: vertical...

In this Seller Master Class episode, the team digs into readiness: the unsexy work that makes or breaks your deal. Last time, they explored the decision to sell. This week is all about getting your house in order so buyers can move quickly and confidently through diligence. We cover why “time kills all deals” and how the vibrancy or cadence of a deal is driven by how fast you can deliver clean, ac...

In This Episode: Why deciding to sell your business is one of the hardest calls a founder makes Emotional factors behind the decision — purpose, identity, and timing Early “readiness signals” and how to spot them The difference between selling out vs. selling in The “Sunday Test” and “Three-Year Test” how to self-assess your motivation The importance of alignment at home before you make the decisi...

In this episode, Matt and Ryan break down the concept of “selling in” - partnering with growth capital to scale your IT services business - versus “selling out.” They explore how founder-led companies can leverage private equity or family office investments to unlock their next stage of growth without giving up control or purpose. From the second bite of the apple to choosing the right platform pa...

Episode 235: What we cover Personal vs. company readiness: passion, energy, and risk appetite Scale ceilings: when you need more talent, capital, or partners “Wearing every hat”: the founder role that’s become unsustainable Market timing vs. company health (multiples vs. demand) External shifts (e.g., AI) that change the calculus Tired vs. done: tests to gain clarity (distance, peers, spouse) Life...