Sam Bendix, Partner at Chicago Pacific Founders, returns to share his framework for capital raising using motivational interviewing. He explains how it uncovers real motivations and qualifies prospects faster—without a hard sell. We cover how it applies to investor meetings, deal sourcing, hiring, and beyond. A practical framework for better conversations and better results.

[00:00] Sam Bendix, Partner at Chicago Pacific Founders, shares his capital-raising framework using motivational interviewing.

[00:28] Alex praises its use in candidate interviews, prospecting, and deal origination.

[00:58] Framework inspired by Sam’s wife, a dietitian, helping patients change behavior.

[01:53] Sam realized it draws out investor motivations instead of pushing a pitch.

[02:51] Ideal for hesitant prospects or those juggling priorities.

[04:13] Helps quickly qualify whether someone’s worth pursuing.

[05:37] Sam uses it on intro calls with LPs at the contemplation stage.

[06:33] It’s flexible — works even outside of work.

[08:30] Four stages: Engage, Focus, Evoke, Plan.

[10:15] Key question: "What led you to take this meeting?"

[12:09] Use “change talk” to uncover real motivations.

[13:59] Always leave with clear next steps.

[15:50] Similar to AIDA — build rapport, qualify, find the why, plan action.

[17:15] Real-life case study: reframed a real estate pitch to win infrastructure LP interest.

[22:28] Even a "no" reveals future opportunities.

[25:22] ORS method (Open questions, Reflective listening, Summarizing) is critical.

[27:17] Reflect objections back to build clarity and trust.

[28:13] Alex draws parallels with talent assessment — most firms hire for now, not the full journey.

[30:40] Exceptional execs have frameworks. If they can't articulate their playbook, you can’t scale them.

[32:07] Too many firms wing it with clients while being structured with candidates — both need frameworks.

[34:29] Sam praises Alex’s consultative approach to hiring — problem-finding > solution-pushing.

[36:55] Knowing the why behind hiring helps tailor the search to real business needs.

[39:47] Ideally, firms would hire 3 execs per hold period — one for each phase. Instead, you need one who can run the full race.

[43:10] Negotiation tips: frame your goals around the LP’s goals.

[45:35] Use three steps: Reflect objections, Reframe as shared objectives, Confirm buy-in.

[48:27] Book recs: Negotiation Genius (Harvard), Start with No (Jim Camp), and Quit (Annie Duke).

Sam’s open to connecting on LinkedIn.

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Got feedback or questions? Email Alex at alex.rawlings@raw-selection.com. Until next time—keep smashing it!

In today’s episode, Jared Weisel, SVP at Revenue Analytics, joins us to break down how PE-backed manufacturing and distribution businesses can use pricing to drive serious EBITDA gains. We dive into why most firms ignore pricing, how to avoid customer churn while raising prices, and why a 3–7% increase can deliver outsized impact. Jared shares the biggest mistakes PE firms make, how to build long-term pricing strategies, and why this lever is the most underutilized tool in the value creation plan.

[00:03] Jared explains his role at Revenue Analytics, focusing on pricing strategy for PE-backed manufacturing and distribution firms.

[00:29] Discusses pricing as a lever for EBITDA improvement with minimal customer loss.

[00:58] Pricing is often underused; Jared emphasizes using data to drive targeted decisions and compliance.

[01:54] PE firms overlook pricing in VCPs, relying on cost-cutting. Jared argues for ongoing pricing strategies, not one-time actions.

[03:44] Sales reps often quote inconsistently due to lack of tools. Structure and guardrails lead to better pricing outcomes.

[05:02] Visibility is key—track changes, product mix shifts, and enforce compliance to prevent leakage.

[06:25] Raw Selection offers salary reports via YouTube—useful for benchmarking comp in PE and portfolio roles.

[06:54] Jared warns that pricing based on gut feel or fear of customer loss leads to missed value. Start with the pain.

[09:47] Jared outlines pricing plays across the investment lifecycle—diligence, early wins, long-term optimization, and positioning for exit.

[12:12] A 3–7% price increase typically sees no customer churn—if done surgically, not blanket increases.

[14:01] Recommends Pricing Brew, Professional Pricing Society, and books like Revenue Management and Pricing: The New CEO Imperative.

[16:28] CEOs hesitant on pricing should compare pricing impact vs. other ops improvements—pricing wins big.

[18:21] Jared’s recommendations: Bain's Dry Powder, Adam Coffey’s Private Equity Playbook, Dan Cremons' Winning Moves.

[19:39] Contact Jared at jwiesel@revenueanalytics.com or on LinkedIn.

[20:36] Alex thanks Jared for the focused and actionable conversation on pricing.

Connect with Jared Wiesel on LinkedIn. Thanks for tuning in.

Subscribe for more episodes on iTunes & Spotify

Got feedback or questions? Email Alex at alex.rawlings@raw-selection.com. Until next time—keep smashing it!

In today's episode we have Steve Carroll, CEO and Co-Founder of Kelso Industries, join us to share his journey from a small-town construction background to leading a 25-acquisition HVAC roll-up. We dive into his Walmart days scaling EBITDA from $15M to $250M, his views on where PE firms get it wrong, and how Kelso’s long-term partnership model is flipping the script on traditional roll-ups.

[00:00] Steve Carroll joins to discuss Kelso Industries' growth from 1st to 25th acquisition

[00:27] Background: Walmart experience and scaling from $15M to $250M EBITDA

[00:54] Early years: rural Oregon, construction, MBA, and entrepreneurial itch

[01:50] Lessons from Walmart and foundation of Kelso

[02:21] Mistake PE firms make: copying each other, bidding up same assets

[03:05] Advice: PE should pursue untapped markets and take first-mover risks

[04:21] Kelso's differentiator: deep focus on one long-term strategy

[05:49] “All in” mindset and scaling Kelso as one big platform

[06:18] First acquisition story: moving to AZ, transition challenges

[07:46] Struggles, COVID, and lessons learned from initial takeover

[08:43] Pivot to partnership model after burnout and realization

[09:42] Defining partnership: skin in the game, shared long-term vision

[11:08] Case study: Pancho in Idaho becomes the blueprint for future deals

[13:03] Criteria for Kelso partnerships and alignment with long-term goals

[14:00] Integration learnings: then vs. now at deal #25

[14:50] Kelso now offers finance, legal, HR, recruiting, and systems support

[17:44] Operational push: MEP+ and one-call solution model

[18:43] Scale enabling better integration and centralized resources

[19:12] Raw Selection salary reports plug

[20:11] Top 3 learnings: partnership, finance investment, data center boom

[23:23] Walmart story: monetizing eyeballs, retail media, Sam’s Club success

[26:17] Building a $250M EBITDA business unit through creative thinking

[27:42] Why HVAC: passion, mission-critical systems, smartest people on site

[28:49] Key influence: Brad Jacobs and “How to Make a Few Billion Dollars”

Connect with Steve Carroll on LinkedIn. Thanks for tuning in.

Subscribe for more episodes on iTunes & Spotify

Got feedback or questions? Email Alex at alex.rawlings@raw-selection.com. Until next time—keep smashing it!