Why My Pro Forma Looked Right and Was Wrong

George Vallone on Buying Small, Scaling Fast, and Using AI

Episode 24 | Garth Fasano with guest, George Vallone What happens when you buy a tiny business in the middle of a global mess and turn it into a scalable growth engine? In this episode of Bought the Biz, Garth sits down with George Vallone, owner of Nuveldy's Apartment Turnover Services, to unpack the real story behind buying a small cleaning business in 2021 and transforming it into a specialized apartment turnover company operating across Nashville and Denver. George shares what it was actually like stepping into ownership with just one employee, the brutal cash flow lessons that hit after close, and why his biggest advice to searchers is simple: buy bigger. They also dig into how George found product market fit inside the business, why apartment turnovers became the winning niche, and how he is now using AI to scale without linearly adding headcount. This conversation is a candid look at the messy middle of ETA, from transition mistakes and key man risk to operational redesign and the opportunity AI creates for small business owners willing to move fast. In this episode, they cover: • Why George would buy bigger if he did it again • The reality of taking over a business with almost no infrastructure • Early cash flow mistakes that nearly buried the business • How he found a more scalable niche inside the company • What makes apartment turnover such a strong recurring revenue model • How AI can help service businesses grow without bloated overhead • Why now may be one of the best times to own a small business

Buy vs. Build: The Agency Shortcut

Episode 23 | Christi Loucks with guest, Karl Hughes In this episode of Bought the Biz, Christi Loucks interviews Karl Hughes, founder of Draft.dev and owner of The Podcast Consultants. Karl explains why he prefers the "buy vs. build" strategy, choosing to acquire his podcasting company to skip years of startup grind and instantly gain 80 client relationships. He also shares why "asset-light" digital agencies can become powerful, scalable businesses when built on strong systems and processes. They also discuss the tough realities of ownership, including major client churn after an acquisition and the mindset shift required to handle hard decisions. The episode closes with a look at AI, as Karl argues that specialized agencies can use it to boost margins while helping large, risk-averse corporations innovate safely.

A Different Kind of Grit for Women in Business Ownership

Episode 22 | Christi Loucks In this solo episode, Christi reflects on a season of life that's stretching her in every direction: five months pregnant, raising a toddler, and running two businesses. After reading Toxic Grit by Amanda Goetz, she finally found language for a feeling she couldn't shake: the pressure women feel to do it all, and the realization that most versions of ambition were never designed for moms or female operators. Christi shares what ownership actually looks like behind the scenes, why buying a business doesn't mean free time, and how she's redefining success through "intentional imbalance." This episode is for women buying businesses, running companies, or raising kids while trying to hold it all together. If you've been feeling behind, exhausted, or quietly questioning yourself, this one's for you. You're not failing. You're doing something hard.

Why My Pro Forma Looked Right and Was Wrong

Episode 21 | Garth Fasano & Christi Loucks Banks love pro formas. Operators pay for them. In this episode, Garth and Christi pull up the exact pro forma Garth used to get his SBA loan approved and explain where it worked, where it broke, and which assumptions were quietly wrong from day one. They talk through the numbers he nailed, the risks he underestimated, and the realities no spreadsheet captures once you own the business. If you're buying a company, raising SBA debt, or modeling your "safe" acquisition, this is a behind-the-scenes look at how deals actually perform versus how they're sold on paper—and what Garth would change if he were doing it again today.

Why Buying the Business Doesn't Make You the Boss

Episode 20 | Garth Fasano & Christi Loucks with guest, Evan Stewart Buying the business is the easy part. Leading it is not. In this episode of Bought the Biz, Garth and Christi sit down with Evan Stewart, owner and CEO of Direct One, a 70+ employee commercial print and direct mail company. Evan shares what it really felt like stepping into a production-heavy business, realizing he was the least knowledgeable person in the building, and learning that authority isn't granted at close. It's earned. They unpack the realities searchers don't always see coming: fragile legacy systems, tribal knowledge that never shows up in diligence, the stress of working capital swings, and the uncomfortable leadership moments where being kind matters more than being liked.Evan also walks through how he approached cultural change, built credibility with long-tenured operators, and repositioned a legacy business for long-term growth in a changing industry. If you're considering entrepreneurship through acquisition, or already living the operator life, this episode is a grounded look at what it actually takes to earn trust and lead after the deal is done.