In this episode of The Do Diligence podcast by Sleeping Giant Capital, host Derrick McIver sits down with Justin Murray — CEO of SignComp and the firm’s first CEO in Residence — to unpack the real-world journey from Fortune 500 operator to ETA acquirer and hands-on leader.
Drawing on his path from Mars and Stryker to leading a 40-person manufacturer, Justin shares the playbook behind a successful search: crafting truly personal outreach, aligning with the right accelerator model, and weighing “fit vs. risk” when evaluating deals. He gets candid about seller psychology and negotiation structure — how motivations shape the mix of cash, notes, and earnouts — and walks through the curveballs that surface late in diligence, including a multimillion-dollar inventory swing and the creative working-capital solutions that kept the deal on track.
Listeners get a behind-the-scenes look at day-one transition and the first 100 days: communicating with employees, setting a sustainable cadence for change, building trust through one-on-ones, and learning the business by riding along with sales and visiting customers. Justin also shares why network-building (from bankers to peer CEOs), family alignment, and a clear personal North Star matter as much as modeling, and why revenue is a lagging indicator of brand, systems, and team investments.
With practical detail and zero gloss, this conversation reframes ETA as a “reverse sale” where buyers must sell owners on succession — and then deliver. It’s an actionable guide for aspiring searchers, operators stepping into their first CEO seat, and advisors helping leaders navigate from evaluation to execution.