Building better deals in entrepreneurship through acquisition takes more than deal flow. It takes discipline, the right partners, and a clear understanding of what matters most after the close.
In this episode, Jared Johnson interviews investor and operator Adam Markley about what he’s learned after years of buying, running, and investing in small businesses. Adam’s path into ETA started in accounting, where he worked with small business owners and saw firsthand how they built wealth. Those early experiences shaped how he approaches acquisitions today, focusing on fundamentals and relationships over complexity.
Adam shared how site visits have become a non-negotiable part of his investment process. Meeting sellers face to face reveals more about their leadership style and the health of the business than any spreadsheet ever could. He believes seller character and the buyer–seller dynamic are often the biggest predictors of post-close success.
He also emphasized the importance of focus after closing. For new operators, the first year can easily spiral into admin work, distractions, and unnecessary tasks. His advice is to stick to four areas that move the business forward: people, operations, sales, and processes. Everything else can wait.
One of the ways Adam supports new owners is by managing or overseeing their back office. His firm helps handle accounting, admin, and setup so the operator can focus on leadership and growth. This kind of operational support has become one of the most valuable resources for searchers transitioning into ownership.
The conversation also covered the evolving ETA and SBA landscape. Loan portfolios from recent years have underperformed, leading to tighter underwriting standards and higher equity requirements. Adam predicts banks will continue to scrutinize post-close liquidity and capitalization more closely. These changes may make it harder for new buyers to get funded, but they also push the market toward more sustainable deals.
Adam’s long-term goal is to elevate how investors and searchers work together. He’s bringing investors together to share data, improve practices, and show lenders and the SBA that investors can add value when they operate with the right mindset. His work in the Denver ETA community and the upcoming Rocky Mountain ETA Conference reflects that same mission: build transparency, share knowledge, and make business ownership more accessible to serious operators.
For anyone in the ETA or search fund space, this conversation is a must-listen. It highlights how to evaluate sellers, structure smarter deals, and navigate the post-close transition with focus and clarity.
Listen to the full episode at jaredwjohnson.com or wherever you get your podcasts.
Connect with Jared: jaredwjohnson.com | linkedin.com/in/jaredwjohnson
Connect with Adam: linkedin.com/in/adammarkley