Think Like an Owner

In the fourth episode of the show's Right to Win series, host Alex Bridgeman is joined by Aaron Perrine and Lindsey Gray for an AMA-style conversation on search, investing, and operating small businesses. Drawing on real examples from recent deals, they unpack what separates strong searches from stalled ones, how investors evaluate searchers, and where value is actually created post-acquisition. The discussion blends tactical advice with candid reflections on boards, capital structures, and the realities of building durable businesses.
They discuss:
How searchers can identify and narrow industry theses before and during fundraising
What investors look for when evaluating searcher talent beyond resumes
Signs that a search is progressing well, including compounding learning and quality seller meetings
Common deal pitfalls around quality, valuation, and defensibility
How boards create value for first-time CEOs and evolving companies
Links:
Pacific Lake Partners
Trilogy Search Partners
Topics:
(00:00:00) - Intro
(00:01:54) - Fundraising and identifying industries
(00:09:43) - Evaluating searcher talent
(00:13:35) - Acquisition models and strategies
(00:18:30) - Cap table construction and investor relations
(00:20:28) - Navigating investor relationships
(00:22:12) - Signs of a successful search
(00:24:28) - Key metrics for searchers
(00:27:14) - Lessons from recent deals
(00:30:42) - Building an effective board
(00:35:00) - Creating value in acquisitions
(00:38:15) - Desert island CEO picks
(00:39:48) - Sports rivalries and fun bets
(00:41:45) - Conclusion and farewell

In this episode of Think Like an Owner, Alex Bridgeman sits down with Dan Antonelli to unpack why branding is the foundation of sustainable growth for home service businesses. Dan shares the long arc of building his firm through specialization, the discipline of saying no to the wrong work, and how focusing on being "five-mile famous" can dramatically reduce reliance on paid advertising. The conversation explores how brand decisions influence not just marketing efficiency, but recruitment, culture, and long-term enterprise value.
We discuss:
Why niching into home services unlocked scale, profitability, and clarity
The difference between branding, marketing, and advertising and why brand must come first
How strong brands lower customer acquisition costs over time
The role of vehicles, mascots, color, and design in creating memorability
Why internal culture and recruiting are deeply shaped by brand choices
This episode is a must-listen for operators and founders who want to build a brand that drives growth, loyalty, and lasting competitive advantage.
Links:
KickCharge Creative - https://www.kickcharge.com/
Dan on LinkedIn - https://www.linkedin.com/in/danantonelli/
Topics:
(00:00:00) - Intro
(00:00:37) - Finding your niche in business
(00:04:16) - The importance of branding in home services
(00:05:32) - Making data-driven decisions
(00:07:51) - Challenges and rewards of specialization
(00:09:00) - The value of saying no
(00:13:53) - Building brands that change lives
(00:27:50) - The impact of branding on recruitment
(00:32:30) - The power of a strong brand story
(00:35:16) - Effective use of vehicles in branding
(00:37:02) - The decline of phone numbers and QR codes
(00:41:08) - The role of mascot branding
(00:45:17) - The power of color in branding
(00:53:36) - Retro vs. modern branding
(01:01:49) - Customer experience and brand authenticity
(01:07:31) - Final thoughts and recommendations

Alex Bridgeman is joined by Alvin Wong and Jordan Huibers on Think Like an Owner, exploring their long-standing partnership, the focused search that led them to Advanced Aircrew Academy, and the lessons they've carried into running the company. They walk through the origins of their collaboration, how a shared passion for aviation shaped their search thesis, and the discipline required to pursue only the opportunities that truly aligned with their experience and values. They also reflect on the emotional highs and lows of stepping away from a business they loved, only to return months later with deeper conviction and ultimately close the acquisition. Their discussion highlights themes of curiosity, humility, relationship building, and maniacal focus as tools that helped them through both the search and their first year as CEOs.
They discuss:
• How Alvin and Jordan developed their industry-focused search thesis and complementary roles within it
• The emotional and practical challenges of walking away from an LOI and what ultimately brought them back
• Lessons from navigating remote-team dynamics during their first year of ownership
• The importance of curiosity, people-orientation, and focus as competitive advantages
• Guidance for future searchers on prioritizing effectiveness over efficiency
Links:
Advanced Aircrew Academy - https://www.aircrewacademy.com/
Alvin on LinkedIn - https://www.linkedin.com/in/alvinwongto/
Jordan on LinkedIn - https://www.linkedin.com/in/jordanhuibers/
Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/
Topics:
(00:00:00) - Intro
(00:04:55) - The origin of Alvin and Jordan's relationship
(00:08:16) - The Search and circling in on an industry focus
(00:23:15) - The first few months on the ground post-close
(00:30:47) - How the Search community helped Alvin and Jordan
(00:33:46) - Taking a people-oriented approach to the business
(00:36:51) - Advice for the listeners

In this episode of Think Like an Owner, Alex Bridgeman sits down with T.J. Coombs, an experienced operator and turnaround expert with decades of leadership across industries including building products, manufacturing, and distribution. T.J. shares lessons from his 40-year career helping companies navigate transitions, execute turnarounds, and build strong leadership teams. He discusses his philosophy of defining success by when you leave, the importance of disciplined assessments, and the hands-on approach required to truly understand and improve a business.
They discuss:
• How defining success as "when you leave" creates accountability in leadership transitions
• Why the best business insights often come from the shop floor, not the boardroom
• The mindset and structure required to execute successful turnarounds
• How effective CEOs balance strategic vision with time spent in the field
• The future of the building products industry and the growing importance of service and technology
Links:
T.J. on LinkedIn - https://www.linkedin.com/in/tjcoombs/
Topics:
(00:00:00) - Intro
(00:01:48) - The drive to lead
(00:05:12) - When you know you're work is done
(00:07:04) - Evaluating WHO you want to work with
(00:12:17) - "Staple yourself to an order"
(00:15:46) - Favorite questions to ask in order to better understand a business
(00:18:08) - How long do you typically spend as an interim CEO?
(00:20:06) - Involvement in hiring the permanent CEO
(00:23:13) - Leading a turnaround business
(00:31:00) - The key jobs of a CEO
(00:42:56) - The state of the Distribution and Install industries
(00:54:41) - Advice to building supply leaders

In this second installment of the Right to Win series on Think Like an Owner, host Alex Bridgeman sits down with Dan Calano to unpack the lessons learned from his journey as a two-time search fund entrepreneur. Dan reflects on his first acquisition of Utility Cloud, navigating challenges like intellectual property disputes and customer concentration, and how trust, discipline, and process shaped his leadership. He then shares what it was like to sell the company, transition through an acquisition, and ultimately launch Grouper Companies and acquire Fleetflo for his second CEO chapter.
They discuss:
• Building trust with sellers through transparency, follow-through, and "show me" actions
• The importance of hiring slowly, managing talent thoughtfully, and reducing organizational friction
• Navigating customer concentration risk and recovering from COVID-era setbacks
• The decision-making and emotional process behind selling a company
• How Dan approached his second search and CEO role differently, focusing on autonomy, community, and process-driven risk-taking
Links:
Dan on LinkedIn - https://www.linkedin.com/in/dcalano/
Fleetflo - https://fleetflo.com/index.html
Pacific Lake Partners
Trilogy Search Partners
(00:00:00) - Intro
(00:04:27) - Dan's background and career
(00:10:03) - Building trust and overcoming challenges
(00:23:19) - Navigating talent and reducing friction
(00:33:01) - Deciding to sell Utility Cloud
(00:37:51) - Reflecting on team and autonomy
(00:40:23) - Post-acquisition role and insights
(00:44:21) - Starting Grouper Companies
(00:45:32) - Autonomy and community
(00:50:36) - Second-time search and CEO experience
(01:04:59) - Approach to risk and decision making
(01:11:06) - Conclusion and final thoughts