Shoot the Moon with Revenue Rocket
Business & Finance
About
The Shoot the Moon podcast is for IT business owners and executives. The Revenue Rocket leadership team brings their 25+ years of experience with M&A and growth strategies to IT Services company leaders worldwide.
Episodes
- The Sell Side Masterclass for Tech Services Founders: What Not to Do
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 Vil…
- The Sell Side Masterclass for Tech Services Founders: What Happens After the Deal Closes
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…
- The Sell Side Masterclass for Tech Services Founders: Definitive Agreements and the Final Stretch
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 allocat…
- The Sell Side Masterclass for Tech Services Founders: Due Diligence
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…
- The Sell Side Masterclass for Tech Services Founders: Deal Structure 101
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 comp…
- The Sell Side Masterclass for Tech Services Founders: Finding the Right Buyer
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 Vill…
- The Sell Side Masterclass for Tech Services Founders: The First 30 Days of a Process
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 c…
- The Sell Side Masterclass for Tech Services Founders: It Takes a Village
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 you…
- The Sell Side Masterclass for Tech Services Founders: What is my Take Home?
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 cap…
- The Sell Side Masterclass for Tech Services Founders: Valuation Drivers
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: re…
- The Sell Side Masterclass for Tech Services Founders: Get Your House in Order
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…
- The Sell Side Masterclass for Tech Services Founders: Knowing When It’s Time to Sell
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 sel…
- When Growth Capital Meets Ambition
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…
- Tell Tale Signs it is Time for an Exit
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 v…
- Deal Urgency in Q4: How to Close (or not close) Before Year-End
Show Notes Why Q4 creates natural urgency: capital deployment, tax timing, clean year-end cutover, and internal fund deadlines. Realistic timelines: ~90 days from LOI to close (60 if exceptionally well-planned and resourced). How to avoid…
- Grow, Buy, or Sell to Grow
In this episode, the team breaks down the decision every IT services leader wrestles with: Grow, Buy, or Grow to Sell . You’ll hear where firms typically hit operational ceilings, why acquisitions amplify your go-to-market (for better or w…
- Deal Mechanisms You've Never Heard of but You Might Deal With
Lockboxes promise price certainty—but the clock can quietly shift value. In this episode, Mike and Ryan break down how a lockbox differs from a classic cash-free/debt-free (CF/DF) deal: fixed price as of a “lockbox date,” no post-close tru…
- Understanding EBITDA Multiple Arbitrage in IT Services M&A
02:39 — What is EBITDA multiple arbitrage (plain-English walk-through) 03:39 — Why smaller firms trade lower and platforms trade higher (the math) 07:50 — Beyond size: capabilities, service lines, and moving up the value chain 11:49 — Roll…
- Advisor vs. Investment Bank: What Founders of IT Services Firms Need to Know
Key takeaways Advisors vs. Banks = different centers of gravity. Banks are great for IPOs, raises, and complex financings; advisors excel at sector-specific sell-side processes. In IT Services, specialization matters. Operator experience h…
- Vertical Victory: Why M&A Winners Are Betting on Industry Focus
💡 Why This Topic? Nearly every buyer call this week hit on vertical strategy PE firms are framing investment theses around industry-specific plays Strategics are scaling via vertical bolt-ons Operators who niche down are getting stronger…
- The AI Revolution: How it's Changing the MSP Landscape Feat. Kevin Lancaster
Episode Notes: The podcast episode features Kevin Lancaster, CEO of Channel Program , as a special guest. The discussion centers on the Channel Program platform, including its tools like Navistack, which helps MSPs visualize their technolo…
- When Sellers Get Cold Feet: Staying Confident Through M&A
Notes (Highlights) Seller Hesitation: Common due to identity tied to business, timing doubts, and emotional strain. Preparation Stage: Proper financial, marketing, and buyer prep helps set realistic expectations. Valuation Shock: Sellers o…
- Is your Biggest Client your Hero or Biggest Risk
EPISODE 226. This episode begins with the vocal stylings of Ashley Battel from the Revenue Rocket Outreach team. EPISODE NOTES: • Customer concentration in IT‑services M&A is it a hero or risk? • Concentrations of 20–50%+ revenue across 1–…
- When (and Why) IT Services Firms Should Hire a Buy-Side M&A Advisor
“The fastest-growing firms marry organic excellence with a disciplined, outsourced M&A engine.” — Mike I. Warm-Up: The CEO Mindset Q1. Mike, what are some of the most common reasons CEOs in IT services think about buying another company? Q…
- You Sold Your Business… Now What? Thriving Post-Close in a Sell-In World
Time Topic / Segment Key Takeaways 0:00 Welcome & July-4th setup Why founders start thinking about “life after the sale” over holiday downtime 1:30 Sell-In vs Sell-Out 101 Minority recap = keep equity & help scale; full sale = plan your ne…
- Balancing Risk & Reward in IT-Services M&A
There is nothing that is without risk! In this episode we are diving into the big risks (and rewards) that come with working an M&A process. M&A always feels like a bet. Hosts Mike Harvath, Matt Lockhart & Ryan Barnett explain how top-quar…
- Navigating the Last 30 Days of an M&A Deal
EPISODE NOTES: Who’s Who in the Final Month: Understand the large cast of characters involved including M&A advisors, legal teams, tax consultants, buyers, funders, and integration leaders. Legal Complexities: Tips for selecting the right…
- From Burnout to Breakthrough: Navigating the Project Neptune Exit
Key Topics Covered: Intro to Project Neptune – A high-growth, high-margin MSP built by a husband-and-wife team. Why Sell? – The founders sought scale, not an exit. They wanted to join a larger platform. The Process – Revenue Rocket led pac…
- Master Non-Competes in IT M&A: Protect Your Deal
🎙️ 1. What’s the real purpose of a non-compete clause in an M&A deal? Why it’s important: Sets the stage — you’re establishing that these aren’t just “standard boilerplate,” but real tools for protecting the buyer’s investment. It also sh…
- Seller Readiness: What to Do When a Buyer Comes Knocking
In this episode of Shoot the Moon , Ryan Barnett and Matt Lockhart explore a common scenario: a business owner receives a call from a potential buyer—or from an M&A advisor representing one—and suddenly faces a big question: Am I actually…
- Can The Buyer Actually Pay? Understanding Buyer Credibility in M&A
1. “How do you like to qualify whether a buyer actually has the capital to close a deal?” Gut check vs. formal proof Differences between PE-backed and strategic buyers What’s reasonable to ask for and when in the process 2. “What are some…
- How to Keep a Level Head During an M&A Process
Selling your business is more than a financial transaction—it's an emotional journey. Our latest podcast explores the critical balance between emotion and logic in mergers and acquisitions, offering insights for IT services business owners…
- You Can’t Add Back What You’re Still Doing: An IT Services CEO’s Guide to Clean EBITDA
In this episode of Shoot the Moon , the Revenue Rocket team—Ryan Barnett, Mike Harvath, and Matt Lockhart—unpacks a foundational concept in IT services M&A deals: EBITDA add-backs . Whether you run a Managed Service Provider, a Microsoft o…
- “Earn the Right to the Numbers”: Why Trust Comes Before Financials in M&A
In this episode of Shoot the Moon , Revenue Rocket’s Mike Harvath, Matt Lockhart, and Ryan Barnett explore one of the most overlooked tension points in M&A: the financial document request. You’ve nailed the strategic and cultural fit — but…
- When to Tell Employees you are Selling the Business
EPISODE KEY POINTS Communicating a Business Sale to Employees Key Stakeholders and Early Communication Selling In vs. Selling Out Employee Concerns and Communication Strategies Follow-Up Communication and Integration Plan Overall Communica…
- This is What Buyers are Looking For
In this episode of the Shoot the Moon podcast, Matt Lockhart and Ryan Barnett discuss the key questions buyers ask when considering acquiring an IT services firm. The discussion provides insights for IT services business owners preparing f…
- Retaining Equity vs Rolling Equity
Rolling equity involves sellers retaining a portion of their equity in a new company structure, often used by private equity firms for future exits. Retaining equity, on the other hand, means sellers keep a stake in their original business…
- When is Renegotiating Post LOI Appropriate?
Mike Harvath, Matt Lockhart, and Ryan Barnett discuss the process of renegotiating deals after a Letter of Intent (LOI) has been signed. They explain that while an LOI is non-binding, it sets the stage for final agreements. Changes in busi…
- What Should My Company look like to Command a Premium Offer
The podcast discusses how tech-enabled services companies can secure premium offers during mergers and acquisitions. Key insights include: Valuation Factors: Deals are typically valued at 6-11x trailing 12-month EBITDA Growth rates of 15-2…
- Navigating Business Valuations: Internal vs. Open Market Perspectives
Valuing the Worth of Your IT Services Company: Internal vs. External Valuation Considerations. In this episode we cover: Understanding the Role of Valuations in IT Services Companies Importance of Valuations for IT Services Companies Inter…
- Optimizing the Role of Legal Counsel in M&A
We're diving into the critical role of legal counsel in M&A transactions. Key points included the necessity of having an M&A lawyer familiar with the industry and transaction size to efficiently manage legal aspects. The conversation empha…
- Scenarios for IT Services Companies: Buy, Sell, or Grow?
What does M&A readiness mean as an IT Services firm? We're answering some of the questions you should be thinking about when planning the next move for your business. Listen to Shoot the Moon on Apple Podcasts or Spotify…
- Challenges and Opportunities with Carve-Outs in M&A
Challenges and opportunities with Carve-outs in M&A What is a carve-out? Why should corporations consider an M&A process of a division? Who needs to know about the carve-out within the business that’s being carved out (vs. the portion that…
- The Future of Tech Services and M&A: Predictions for 2025
Most impactful trends forecasted to hit the tech-enabled services sector in 2025. Predictions for 2025 MSP targets continue to get multiple offers as consolidation continues Rise in custom app dev space: custom app dev, near shore, and tra…
- Why Hiring a Buy-Side Advisor Makes Sense
Key points M&A is a critical growth strategy for top quartile companies, helping them expand market share, add capabilities, and grow geographically. Corporate development functions often lack the specialized skills and resources required…
- Selling Your Business to an Independent Sponsor
Key Points Discussed Independent sponsors are individuals looking to invest in or acquire their first company, often using outside financing. Independent sponsors differ from private equity funds in that they need to secure funding after f…
- Leveraging Quality of Earnings Reports in M&A Transactions
Mike, Ryan and Matt from Revenue Rocket discussed the importance of a quality of earnings (QOE) report for IT services firms in the context of M&A transactions, highlighting that it is a comprehensive financial analysis that can provide th…
- Restarting the M&A Journey: Strategies for Sellers After a Failed Combination
This episode discusses the challenges and strategies for re-entering the market after a deal doesn't close. Key points include understanding why the deal failed, whether due to strategic, cultural, or financial issues. Emphasis is placed o…
- Convertible Notes: Balancing Risk and Reward
Key points Convertible notes provide sellers flexibility to participate in upside if the business performs well, while also offering some downside protection. Convertible notes involve a seller providing a loan to the buyer, with the optio…
- Dealing with Deal Fatigue: Navigating the Ups and Downs of M&A Transactions
In this episode, we're talking about keeping the spark alive in an M&A deal and strategies for avoiding burnout. Key points discussed in this episode: Deal fatigue is common in M&A transactions due to the numerous decisions and interdepend…