Everyone’s obsessed with revenue growth… but what if the real money is hiding in your operations?

In this episode, Jeff sits down with industry veterans Ken Thomas and Ben Gandy to break down what actually drives value in service and trades businesses. From scaling companies from $0 to $20M to navigating private equity-backed growth, they unpack the real levers behind profitability, leadership, and operational excellence.

The conversation dives deep into why most companies are leaving margin on the table, how “lean” thinking transforms labor efficiency, and what separates great operators from great business builders. They also challenge common myths around sales, leadership, and work-life balance - offering a raw, practical perspective from decades in the trenches.

If you're building, scaling, or preparing to exit a service business, this episode is a masterclass in value creation.

Key Discussion Points

• Why revenue growth alone won’t maximize your company’s value

• How 1–3% margin improvement can transform enterprise value

• The concept of “lean” and eliminating operational waste

• Labor efficiency as the #1 profit lever in service businesses

• The lifecycle of a business and breaking through growth ceilings

• Why leaders must reinvent themselves at each stage of growth

• What investors actually look for in leadership teams

• The biggest mistakes in sales (and why “relationship selling” isn’t enough)

• The reality of attrition in recurring revenue models

• AI, robotics, and what actually matters for the future

Most founders wait too long to prepare for a sale. By the time they start thinking seriously about it, value has already leaked, risk has already built up, and the deal gets harder than it should have been.

In this episode of The Deal Factory, Jeff Harkness sits down with M&A attorney Stephen Katz of Connell Foley for a brutally practical conversation about what business owners need to do long before they ever go to market. They break down the legal, structural, tax, and leadership decisions that can either protect enterprise value or quietly destroy it.

Jeff and Stephen unpack transaction bonuses, phantom stock, profit interests, rollover equity, operating agreement traps, employment agreement landmines, estate planning, I-9 compliance, and employee classification. If you are building with the hope of one day selling, raising capital, or creating real wealth from your company, this episode will help you think several moves ahead.

Key discussion points

• Why founders should prepare for a sale from day one

• The hidden cost of waiting too long to clean up legal and structural issues

• How transaction bonuses, phantom stock, and profit interests actually work

• Why rollover equity is not as simple as buyers make it sound

• The operating agreement terms that can come back to hurt founders after closing

• How employment agreements can quietly threaten your equity and economics

• Why tax planning, estate planning, and entity structure matter well before a deal

• The compliance issues buyers are digging into harder than ever

Most business owners think selling their company means walking away.But what if partnering with private equity actually accelerates growth, wealth, and opportunity for your entire team?

In this episode of The Deal Factory, Jeff Harkness sits down with Fred Rodriguez, founder of Remediation Group Inc., to unpack his journey from college wrestler working disaster cleanup jobs to building one of Atlanta’s leading restoration companies and partnering with private equity.

Fred shares how he built a scalable service business, why he chose to bring his leadership team into the deal with phantom stock, and how partnering with Percheron Capital and Right Restoration Partners unlocked new growth opportunities.

If you're a business owner wondering what life looks like before, during, and after a private equity partnership, this conversation delivers real-world insight from someone who’s lived it.

Key Discussion Points

• How Fred discovered the restoration industry while wrestling in college

• The “Mold is Gold” era and how early specialization created opportunity

• Why restoration companies must evolve into full-service operators to scale

• The importance of density and niche focus in service businesses

• Why Fred built his company around high-rise and multifamily clients

• Preparing the business for private equity interest

• Why Fred insisted on bringing his key leadership team into the deal

• How phantom stock created alignment and changed his team’s lives

• What private equity partnership actually looks like day-to-day

• Why the right PE partner can accelerate growth and remove operational burdens

  • Growth strategy: organic growth + acquisitions + new sales channels