About this episode

Jacob Hall discusses the realities of Entrepreneurship Through Acquisition and the importance of investor-operator alignment in business ownership.

Closing on a business is only the beginning. Success depends on how you manage the first years of ownership, the capital you bring to the table, and the partners you choose. In this episode of Before You Buy or Sell a Business, Jared Johnson talks with Jacob Hall, Founder and Managing Partner of Kando Capital, about the realities of Entrepreneurship Through Acquisition (ETA). Jacob shares how his career as an engineer and operator shaped his approach to investing in self funded searchers and independent sponsors. He explains why search is a double edged sword, what makes alignment between investors and operators essential, and how his firm structures equity to support both short term liquidity and long term ownership. The conversation covers SBA rule changes, the risk of ignoring the J curve, and why working capital is often underestimated in the first year of ownership. Jacob also discusses quarterly reporting, portfolio diversification, and why he now teaches ETA at the University of Texas to prepare the next generation of operators. Main Takeaways: ETA is a promising path but requires commitment, maturity, and resilience Investor and operator alignment sets expectations and…

People in this episode

Host: Jared W. Johnson

Guest: Jacob Hall

Topics covered

• Entrepreneurship Through Acquisition
• business ownership
• investor-operator alignment
• SBA rules
• working capital
• portfolio diversification
• mentorship

Keywords

• ETA
• SBA rules
• working capital
• J curve
• equity partners
• quarterly reporting
• mentorship

Mentioned in this episode

Organizations: Kando Capital, University of Texas

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