# 60% Concentration That Killed an Exit

Page: https://stenobird.com/podcast/acquiring-minds-3909119/60-concentration-that-killed-an-exit
Text version: https://stenobird.com/podcast/acquiring-minds-3909119/60-concentration-that-killed-an-exit.md
Podcast: [Acquiring Minds](https://stenobird.com/podcast/acquiring-minds-3909119)
Published: 2026-07-27T07:00:00+00:00
Episode link: https://acquiringminds.co/articles/raj-mahajan-supersalon
Audio file: https://media.transistor.fm/5dd3137a/35ad1f17.mp3
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JSON: https://stenobird.com/v1/public/podcasts/acquiring-minds-3909119/episodes/60-concentration-that-killed-an-exit
Duration seconds: 6591

## Resource

Raj Mahajan bought a salon software business, tripled it to $11M ARR. Then his biggest customer launched a competitor. Register for the webinar: Tax Issues: Entity and Deal Structuring - TOMORROW!! - https://bit.ly/4frQstm Topics in Raj’s interview: Wanting to move “from coach to quarterback” Buying a niche point-of-sale software company Converting to cloud-based SaaS Growing recurring revenue from $4 to $11 million Establishing a headquarters for the remote company A failed exit to private equity His biggest customer stealing his software Emotional turmoil of Covid + lawsuit Choosing to protect his team Lessons learned from good and bad years References and how to contact Raj: LinkedIn Jaan Capital Lessons for New Operators - 2020 The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition Lab Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Get a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or hello@systemsix.com and mention Acquiring Minds Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

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## Transcript

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