Shoot the Moon with Revenue Rocket

Platform partnerships built much of the IT services industry, but the balance of power has been shifting for two decades. In this episode of Shoot the Moon, Mike Harvath, Ryan Barnett, and Matt Lockhart unpack channel and vendor-partner dependency: why buyers treat it like customer concentration, how verticalization lowers the risk, and why the partner's future is the final-mile implementation and service layer. As the model shifts from software as a service toward "services as software," they argue the next era may be the biggest opportunity channel partners have ever had.

Mike Harvath, Ryan Barnett, and Matt Lockhart break down the five M&A myths they encounter most often with IT services founders, and what believing them actually costs. From misreading a peer's deal as your benchmark, to misjudging how earnouts work, to holding off on a sale waiting for perfect market conditions, these are the misconceptions that consistently lead founders to make worse decisions at the worst possible time.

EPISODE 237: In this first installment of the M&A Master Class Series for Sellers, the Revenue Rocket partners break down one of the toughest decisions for any founder: knowing when it’s time to sell. Mike, Matt, and Ryan explore how to read the signals that you’re ready, the emotional and financial factors at play, and the difference between “selling out” to move on versus “selling in” to grow bigger. Whether you’re feeling burned out, hitting growth ceilings, or just wondering what’s next, this episode helps you self-assess where you are and what comes next in your journey.

Founders rarely get a flashing “SELL NOW” sign. In this conversation, Mike, Ryan, and Matt unpack the practical signals that it may be time to explore an exit or merger. From wearing too many hats and stalled scale to outside capital needs, shifting life priorities, and external market pressures (hello, AI), they show how to separate simple fatigue from being truly “done.” You’ll hear why timing the company’s health matters more than timing the market, and how to think about purpose—and a plan—on the other side of a deal.

Founders face three real paths: grow organically, buy growth via M&A, or grow to sell. We compare time-to-impact, leadership bandwidth, capital needs, and integration load, and show how each choice affects valuation levers like margin quality, recurring revenue, and concentration risk.

EPISODE 231. The team demystifies EBITDA multiple arbitrage for IT services leaders! Talking what it is, why it works, and how to capture the upside without stepping on landmines. Mike lays out the math behind buying smaller, healthy firms at lower EBITDA multiples and selling a larger, integrated platform at a higher multiple. Matt explains why scale alone isn’t enough: the winners broaden capabilities, mature processes, and move up the value chain. The crew digs into the seller’s calculus on rolling equity (hello, second bite) versus cash at close, plus real risks around dilution, culture fit, and execution. Then they get practical: what great integration looks like, where synergy is real (not imagined), and why revenue and profit velocity command premiums. They close by weighing strategic buyers versus PE-backed platforms and the questions every seller should ask before “joining the roll-up.”

We’re diving into a topic we’ve preached for decades but is showing up big-time in recent calls: vertical market focus as a key value driver in M&A. It’s not just PE firms chasing verticalized platforms anymore — strategics are dialing in too. From healthcare IT and legal tech to construction-focused MSPs, we’re seeing how domain depth beats general breadth when it comes to valuation, buyer interest, and integration success.

EPISODE 227. This episode of Shoot the Moon explores the emotional and practical challenges sellers face during the M&A process. Matt Lockhart and Ryan Barnett discuss why sellers often experience “cold feet,” what triggers uncertainty, and how advisors can guide them through preparation, diligence, and negotiation. The conversation highlights the importance of clear expectations, advisor support, and maintaining confidence through every stage of a deal.