ETA Insider Podcast

In this episode, Mark Hoffman, MBA ’91, owner of Larson Packaging Company, sits down to explore his decades-long journey as a self-funded business owner. Mark shares the realities of moving from consulting to entrepreneurship, describes the challenges and triumphs of growing a packaging company from the ground up, and reflects on the personal rewards, identity, and wealth that come from committing to a “boring” business over the long haul. Mark’s perspective offers actionable advice for anyone considering a self-funded search or looking to build a meaningful legacy in a small business.

In this episode of the ETA Insider Podcast, Matt Littell joins the podcast to discuss his early experiences managing union employees, his transition into small business acquisitions, and the importance of building trust and curiosity as an operator. Matt is Cofounder at Legacy 41 and Adjunct Lecturer in Entrepreneurship at Northwestern Kellogg School of Management. From practical skills to deep relationship-building, Matt outlines how new and seasoned ETA leaders can thrive, offering invaluable wisdom for aspiring entrepreneurs and current business owners alike.

In this episode of the ETA Insider Podcast, Alex Panosian, MBA ’18, joins the podcast to discuss his path from the U.S. Army to ETA and operating small businesses. Alex reflects on how military leadership shaped his approach to ownership, discipline, and decision-making. He shares firsthand experiences operating acquired businesses, including the day-to-day reality of being both an owner and an operator, the “duality” of doing manual work while making strategic decisions, and what it looks like to involve family in the journey. The conversation also touches on evaluating acquisition opportunities, lessons learned from operating across different industries, and how his perspective on business ownership has evolved since leaving the Army and completing Booth.

In this episode of the ETA Insider Podcast, we are joined by Jake Bitz, Director of Client Accounting & Advisory Services and Consulting CFO at Boulay. Jake breaks down the accounting realities that searchers and newly minted CEOs face before and after acquiring a small business. He outlines the most common red flags uncovered during diligence, offers practical steps searchers can take early to avoid costly surprises, and explains how outsourced accounting models support operators as they scale. Jake also shares guidance on post-acquisition pitfalls, how CEOs should think about cash oversight, and where AI is already reshaping the accounting and finance function.

In this episode of the ETA Insider Podcast, we sit down with JT Fitzgerald, CEO of Kingsway Financial Services—the only U.S. public company embracing the search fund model. JT traces his path from trading on the Chicago Board of Trade to acquiring his first company and ultimately building Kingsway Search Accelerator (KSX), a platform that partners with high-potential operators to acquire and grow small businesses. He explains how Kingsway’s permanent capital structure, tax advantages, and operator “scaffolding” differentiate it within the ETA ecosystem. JT also shares insights on “game selection,” the attributes of successful searchers, and why mentorship and fit are essential for long-term success in ETA.