Built to Sell Radio Ep 533 Inside the Mind of an Acquirer: The Anatomy of a Failed Deal
Feb 13, 2026
Jed Morris, a former U.S. Air Force financial manager who worked at Microsoft and Amazon and now pursues acquisitions, shares a harrowing acquisition story. He recounts buying landscaping businesses, misreading finances, skipping quality-of-earnings, and facing litigation and personal guarantees. He then pivots to researching failures, stressing owner integrity and rigorous diligence. A candid look at what can go wrong in buying companies.
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Career Pivot Into Acquisitions
- Jed Morris left a tech career and used his military and MBA background to pursue acquisitions after discovering ETA multiples in a textbook.
- He describes that decision as the start of a learning journey that led him into buying small businesses like landscaping firms.
Working In The Business Before Buying
- Jed spent eight months working inside a landscaping company before buying it to learn the business and fix the backend issues.
- That pre-close involvement gave him access to bank accounts and CRM data which revealed low-hanging growth opportunities.
Understand SBA 7(a) Financing Limits
- Know SBA 7(a) limits: typical self-funded buyers are capped around $5M enterprise value with lender nuances.
- Plan financing expecting a 10% down requirement and possible seller notes or mezzanine to bridge gaps.
