{"podcast":{"title":"Before You Buy or Sell a Business","slug":"before-you-buy-or-sell-a-business-5819525","podcast_index_feed_id":5819525,"rss_url":"https://feeds.captivate.fm/before-you-buy-or-sell/","website_url":"https://jaredwjohnson.com","image_url":"https://artwork.captivate.fm/7ad7b883-57f4-40ca-89a1-31c6f0b05f6e/tjT5gAbth3Kmx8GzDayPgcL8.png","author":"Jared W. Johnson","episode_count":68,"summary":"Learn everything you need to know about buying and selling a business from High-Performing SBA Lender, Jared Johnson, who specializes in business acquisitions. Jared interviews industry experts on both the buying and selling side to provide insights into the buying and selling process. Experts include brokers, attorneys, escrow officers, and seekers. You'll also hear from actual buyers and sellers about their experiences before and after the process. If you're a buyer or a seller or thinking about becoming one at some point in the future, this is the podcast that will provide you with the information you need for a successful transaction.","last_synced_at":"2026-07-28T22:20:19.103669+00:00","page_url":"https://stenobird.com/podcast/before-you-buy-or-sell-a-business-5819525"},"episode":{"title":"Owning the Outcome: Jacob Hall on ETA, SBA Rules, and Operator Success | Ep. 53","slug":"owning-the-outcome-jacob-hall-on-eta-sba-rules-and-operator-success-ep-53","published_at":"2025-09-16T11:00:00+00:00","page_url":"https://stenobird.com/podcast/before-you-buy-or-sell-a-business-5819525/owning-the-outcome-jacob-hall-on-eta-sba-rules-and-operator-success-ep-53","show_page_url":"https://stenobird.com/podcast/before-you-buy-or-sell-a-business-5819525","url":"https://jaredwjohnson.com","audio_url":"https://episodes.captivate.fm/episode/2f19b3d0-66d5-4910-8a71-bbd07bf52e22.mp3","summary":"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 avoids future conflict The J curve is common in the first year and must be planned for Working capital is critical for payroll, vendor terms, and unexpected expenses Equity partners provide strategy, networks, and growth support beyond funding Mentorship and transparency build a stronger ETA community Episode Highlights: [02:10] Jacob’s career path from engineering and corporate operations to small business COO [09:45] Discovering ETA in 2020 and shifting from searching to investing [14:22] Building Kando Capital and raising from accredited investors and family offices [20:35] Structuring equity,…","meta_description":"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 p…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2909,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/before-you-buy-or-sell-a-business-5819525/episodes/owning-the-outcome-jacob-hall-on-eta-sba-rules-and-operator-success-ep-53/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/before-you-buy-or-sell-a-business-5819525/owning-the-outcome-jacob-hall-on-eta-sba-rules-and-operator-success-ep-53.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}