The SMB Investor

How do you go from running a family-owned home healthcare agency to building a technology-enabled acquisition platform? In this episode, Sean Smith, Managing Partner at Search Fund Ventures and Founder of SMB Investor Network, sits down with Karl Pierre, Founder of Aidbook Holdings, to discuss his unique journey from helping grow his family's healthcare business to over $10 million in annual r...

Anthony Macleod shares his journey from entrepreneur to Pinnacle Business Guide, emphasizing the transformative power of business operating systems like EOS and Pinnacle. Discover how implementing these systems can drive focus, improve team alignment, and significantly increase enterprise value.

Tivan Amour shares his journey from being a serial entrepreneur to working with ETA (Entrepreneurship Through Acquisition) entrepreneurs. He discusses the importance of grit, patience, and the right mindset in entrepreneurship, as well as the transferable skills from startups to ETA. Tivan emphasizes the significance of sales strategies, experimentation, and building effective sales teams. He also...

In this conversation, Lisa Piercey shares her journey from being a physician to becoming a successful business buyer in the healthcare sector. She emphasizes the importance of industry experience in making successful acquisitions and building trust with stakeholders. Lisa discusses her approach to evaluating potential investments, structuring deals, and mitigating risks. She also highlights the em...

In this in-depth conversation, Sean Smith , Managing Partner of Search Fund Ventures and Founder of SMB Investor Network, sits down with Jon Staenberg , Founder & CEO of Agate Hound Fund , to explore the evolution of search funds and the rise of microcap private equity. Jon shares firsthand perspective from the earliest days of search at Stanford Business School, how the traditional search fun...

In this interview, Sean Smith , Managing Partner at Search Fund Ventures and Founder of SMB Investor Network , sits down with Michael Huseby , founder of The Investment Lawyers , to break down the real-world legal dynamics behind LP agreements, fund structures, 506(c) fundraising, governance rights, waterfalls, fund expenses, and minority protections. Michael shares insights from his work across p...

In this episode, Sean Smith , Managing Partner of Search Fund Ventures and Founder of SMB Investor Network , sits down with Ariez Dustoor of NB Group , an experienced independent sponsor with meaningful reps investing in both sponsors and searchers. Ariez shares a rare dual-sided view of the market—how he evaluates deals, how his sector focus evolved, how he builds pattern recognition, and what tr...

In this interview, Sean Smith , Managing Partner of Search Fund Ventures and Founder of the SMB Investor Network , sits down with Robert Graham , Co-Founder of SIG Partners and Co-Founder of Pillar Health Group . Robert shares his journey from HBS to building a healthcare group that grew from $6M in revenue to $130M+, powered by both organic growth and acquisitions. Together, Sean and Robert unpac...

In this interview, Sean Smith (Managing Partner of Search Fund Ventures & Founder of SMB Investor Network) sits down with Jacob Hall , Founder of Kando Capital , to explore the fundamentals of investing in small businesses through self-funded search and independent sponsor deals. Jacob shares his unique path from Fortune 500 operator to fund manager, his “buy box” criteria, and the red/yellow...

In this episode, Sean Smith (Managing Partner of Search Fund Ventures & Founder of SMB Investor Network) sits down with Pascal Wagner , founder of Grow Your Cash Flow and seasoned LP investor. Pascal shares his journey from working with the investment team at Techstars , one of the world’s top accelerators, to building a multi-asset-class cash flow strategy. From helping his family secure fina...

In this in-depth conversation, Sean Smith (Managing Partner, Search Fund Ventures & Founder of SMB Investor Network) sits down with Mitch Petracca , CPA and Founder of Forward Firm , to unpack the art and science of Quality of Earnings (QoE) in small business acquisitions. Mitch shares his journey from PwC to founding Forward Firm, where he supports searchers, independent sponsors, and small p...

In this episode, Sean Smith , Managing Partner at Search Fund Ventures and founder of the SMB Investor Network , sits down with Roman Basi , Managing Partner of Basi & Basi, Attorneys & CPAs . Roman brings nearly three decades of experience advising on mergers, acquisitions, and tax structuring. Together, they break down the critical aspects of tax diligence in SMB transactions — from enti...

In this episode, Sean Smith , Managing Partner at Search Fund Ventures and Founder of SMB Investor Network , sits down with Beki Darlin , growth partner, fractional CMO/CRO, and founder of Our Way (Women’s Acquisition Entrepreneur Ecosystem) . Beki shares her journey from an unexpected career pivot into sales and marketing, to becoming a growth partner in search and acquisition. She explains how w...

In this episode of the SMB Investor Podcast, Sean Smith (Managing Partner, Search Fund Ventures; Founder, SMB Investor Network) sits down with Christien Louviere, Co-Founder of BDE Capital, to explore the journey from venture capital and startup founding to becoming an independent sponsor in the lower middle market. Christien shares:- Why BDE Capital focuses 80% on healthcare and 20% on B2B servic...

In this interview, Sean Smith (Managing Partner at Search Fund Ventures) sits down with Brian Wolfe, founder of Funded Ventures, to unpack his transition from 17 years of big law to building and scaling SaaS businesses through M&A. Brian shares deep insights from his time advising major PE firms like Bain and Vista, his own SaaS roll-up exit to Alpine Investors, and his current role backing Mi...

In this episode, Sean Smith (Managing Partner at Search Fund Ventures and CEO of SMB Investor Network) sits down with Caleb Basile, CPA and founder of QoE Prep, a firm specializing in fast-turnaround buy-side Quality of Earnings (QoE) reports for the lower-middle market. Caleb breaks down what investors and operators *really* need to understand about revenue quality, working capital, and cost stru...

In this episode, **Sean Smith**, Managing Partner at **Search Fund Ventures** and CEO of **SMB Investor Network**, sits down with **Christian Ruf**, founder of **Uncommon Elite**, to unpack how elite military operators are thriving in the world of small business acquisitions. Christian shares his journey from flying helicopters in special operations to placing SEALs, Green Berets, and Rangers into...

In this episode, Sean Smith, Managing Partner at Search Fund Ventures, sits down with **Lisa Forrest**, Head of the Self-Funded Search team at **Live Oak Bank**, to dive deep into the mechanics of SBA financing in small business acquisitions. With over **38 years in banking**, Lisa shares:- How SBA 7(a) loans are structured and why they’re a powerful tool for self-funded searchers.- Key underwriti...

In this episode, Sean Smith (Managing Partner at Search Fund Ventures and Co-Founder of SMB Investor Network) sits down with **Andy Allaway**, CEO of **Empire Flippers**, a leading marketplace for buying and selling online businesses. Andy shares the origin story of Empire Flippers, how the platform evolved from flipping small content sites to facilitating multi-million dollar online business acqu...

In this episode, Sean Smith (CEO of SMB Investor Network) interviews Mathias Smith, CEO and Founder of Pioneer Capital Advisory. Mathias shares a comprehensive breakdown of the SBA lending process for small business acquisitions, offering valuable insights for first-time buyers, experienced investors, and equity sponsors alike. They cover: The end-to-end SBA loan process Key components of a winnin...

Sean Smith , Managing Partner of  Search Fund Ventures  and Co-Founder of the  SMB Investor Network , sits down with  Dev Shah , a rising micro-acquisition entrepreneur and founder of  Pocket Fund . At just 23 years old, Dev has already completed seven digital business acquisitions — starting with a $4,000 SaaS deal that delivered a  40x return . Together, they unpack: Dev’s first acquisition and...

In this episode, Ian Reynolds, Managing Partner at Thesis Capital, joins Sean Smith to explore what makes an SMB acquisition truly sustainable. Ian shares how his firm evolved from a traditional search model into an operator-led sponsor platform, why capital structure can make or break a deal, and how to evaluate leadership teams for long-term success. They also dig into real lessons from past tra...

Discover the top leadership traits every small business CEO needs to succeed! In this episode of SMB Investor, Sean Smith from Search Fund Ventures and Burton Francis of ECA Partners explore the essential qualities like scrappiness, coachability, and adaptability that drive success in small businesses. Learn how investors and entrepreneurs can identify and develop the right leadership talent, buil...

In this episode of  The SMB Investor Podcast , Sean Smith talks with Ricky Bouchard — a former insurance professional turned disciplined SMB investor. Ricky walks through his transition from backing friends to building a strategic investment approach grounded in familiar industries, strong operator communication, and resilient capital structures. He also exposes hidden risks in insurance coverage,...

In this episode of The SMB Investor Podcast, Sean Smith sits down with Jeff Driskel — NFL quarterback and founder of The Four Pillars Group — to discuss his transition from professional sports to private equity, and his innovative, operator-led approach to acquisitions. Jeff explains how Four Pillars focuses on finding exceptional leaders first and shaping investment theses around them. Together,...