FROM MISSION TO LEGACY: NOVEMBER HIGHLIGHTS FROM THE GROWTH CAPITAL PODCAST

This month on the Growth Capital Podcast, host Justin Dixon sat down with four leaders who are all solving a similar problem from very different angles: how to build, buy, and steward businesses that actually last.

From veteran operators buying small companies, to gluten-free brewers building a new category, to an AI-first roll-up CEO, to an investor solving the baby-boomer succession gap—November’s episodes were packed with practical playbooks for founders, searchers, and investors alike.

Episode 51: Transition with Purpose: Redefining Leadership Beyond the Military with Patrick Flood 

Patrick “Pat” Flood, a 26-year U.S. Army veteran and former Green Beret, joined Justin to share how his nonprofit, Owners in Honor, is helping veterans become small-business owners through entrepreneurship through acquisition (ETA). Built around SBA 7(a)–backed deals in the $500K–$5M range, his model is designed for one thing: delivering value to veterans, not extracting it.

Patrick breaks ETA down as a full life cycle—buy, operate, grow, and ultimately exit the business—using a six-phase roadmap that feels a lot like a mission plan. From Phase 0 readiness and financial education, to building a tight buy box, to structured search support, executive coaching, and exit planning, the system is designed to prevent “silent failures” by supporting the whole person, not just the P&L.

Owners in Honor also runs on aligned incentives: education is free up to Phase 2, and once a veteran becomes an active searcher, the nonprofit typically receives a small equity stake and profit share that reinforces “stickiness” with lenders without loading more risk on the operator. Long term, Patrick envisions a veteran-to-veteran flywheel where businesses are bought, grown, and sold within a community of trained, values-aligned operators.

Listen to the full episode → Spotify & Apple Podcasts or Watch it on YouTube 

Episode 52: Why Differentiation Is the Real Competitive Advantage with Aaron Gervais

Aaron Gervais, co-founder and CEO of Otherwise Brewing, is building something deceptively simple: gluten-free beer that beer lovers actually want to drink. His path—from freelance composer to tech marketing executive to brewer—shows how technical curiosity and go-to-market discipline can combine into a powerful edge.

Rather than leaning on health marketing, Aaron went deep into R&D, cracking the enzyme and fermentation challenges of non-barley grains like rice and semolina so gluten-free beer could stand toe-to-toe with traditional craft on taste. On the business side, he intentionally paired himself with a complementary co-founder who excels in sales, on-premise relationships, and customer-facing work—freeing him up to focus on production, IP, finance, and marketing.

Otherwise Brewing runs a focused product portfolio of four core beers, using data-driven outreach (like enriched license databases) rather than just “walking into bars” to grow distribution. Their philosophy: ship the B+, learn in the market, and earn the A over time. It’s a masterclass in category creation—starting with the product and supporting it with a modern, scalable GTM.

Listen to the full episode → Spotify & Apple Podcasts or Watch it on YouTube

Episode 53: The CEO's Playbook: Bringing Order to the Chaos of Growth with Marc Pickren

Marc Pickren came on the show to walk through how he acquired control of Springbot, merged it forward into a new entity, and is now building an AI-first growth platform that stays EBITDA-positive while rolling up complementary capabilities.

He explains how a forward merger helped clean up a 12-year-old cap table and align investors, while giving him 51% control to execute a clear strategy: bundle B2B demand gen, a high-volume email platform, a website identity product, and marketing services into a subscription-driven growth engine. Instead of hiring dozens of people, Marc leans heavily on AI agents to handle data enrichment, product expertise, and lead orchestration—running the business with a very small full-time team plus flexible contractors.

Marc also lays out a new metric mindset for a low-signal, low-traffic era: ignore vanity traffic and impressions, and focus on verified buyer intent, right-fit accounts, and expansion within existing logos. For capital, he highlights creative, non-dilutive options like Reg CF raises that can bring in up to seven figures from retail investors while building a true owner-customer community.

Listen to the full episode → Spotify & Apple Podcasts or Watch it on YouTube

Episode 54: From Founders to Future Leaders: Redefining Business Succession with Ron Ondechek Jr.

Ron Ondechek Jr., Managing Director of South Highland Ventures, joined Justin to talk about one of the biggest underserved opportunities in private markets: succession for baby boomer-owned businesses. His firm partners with European family office Novastone to back experienced operators who acquire and run profitable legacy businesses doing $2–10M of EBITDA—often too small or too “key-person dependent” for traditional PE.

At the heart of the model is a rigorous talent engine: Novastone screens thousands of applicants per year through a 10-step process, ultimately backing a very small percentage of operators who typically have 15–20 years of relevant industry experience and a refined thesis before they even start searching. By the time Ron sees a candidate, they’ve been battle-tested across skills, leadership, and sector fit—what he calls “playing cards with a stacked deck.”

For founders, the appeal is as much emotional as financial. They get a say in who runs their company next, often retain a minority stake, and stay involved as advisors—preserving legacy, culture, and community impact. Ron is realistic about where AI fits in this world: it’s useful for first-pass memos and mapping, but it can’t replace human judgment when so much value is embedded in relationships, history, and non-digitized knowledge.

Listen to the full episode → Spotify & Apple Podcasts or Watch it on YouTube

🔔 Subscribe for new episodes every Tuesday! Available on Spotify, Apple Podcasts, and YouTube