In this episode of the Growth Capital Podcast, Justin Dixon sits down with Joseph Dalton, Founder & Managing Partner of Arsenal Enterprise Capital, to unpack one of the most misunderstood dynamics in private equity: investing in relationship-driven businesses.

From navigating founder transitions to sourcing proprietary deal flow, Joseph shares how his operator-first mindset shapes better investment decisions—especially in industries where relationships drive revenue.

🔍 What you’ll learn:

• Why founder-led businesses require different diligence frameworks
• How to manage key man risk without losing enterprise value
• The advantage of sourcing deals directly from founders
• Why financials don’t tell the full story of a business
• How to create value through operations, not just capital

🚀 Whether you’re a PE investor, founder preparing for exit, or operator scaling a company, this episode offers practical insights you won’t hear in a pitch deck.

📩 Connect with Joseph Dalton on LinkedIn - https://www.linkedin.com/in/joseph-w-dalton/

🏢 Learn more about Arsenal Enterprise Capital - https://www.arsenalenterprisecapital.com/

👉 Watch now, subscribe, and drop a comment: What’s the biggest risk you’ve seen in founder-led businesses?

🧠 Growth Capital Podcast — Episode 71 🧠

In this episode of the Growth Capital Podcast, Justin Dixon sits down with Erica Olsen, Co-founder & CEO of Madison AI, to unpack what it really takes to reinvent a business from consulting to SaaS at exactly the right moment.

Erica shares how a simple shift, listening to what customers actually wanted, led to a completely new company, a $1M ARR milestone, and a fast-growing GovTech platform serving cities and counties across the U.S.

This isn’t theory. It’s a real-time case study in adapting to AI, finding product-market fit, and building with focus in a market most founders avoid.

🔍 What you’ll learn: • Why customers should define your product • The realities of selling AI into government (and why most fail) • How to transition from services to scalable SaaS • Why niche focus beats broad ambition in early-stage growth • How AI is changing how executives work, not just what they do

🚀 Whether you're a PE-backed operator, startup founder, or investor, this episode offers a practical look at building and scaling in the age of AI. 🔗 Connect with Erica on LinkedIn: https://www.linkedin.com/in/ericajolsen/ 🌐 Learn more: https://madisonai.com/

👉 Subscribe for more insights from founders, investors, and operators 👍 Like the video and share your thoughts in the comments: What would you rebuild differently in an AI-first world?

⚠️ Growth Capital Podcast — Episode 70 ⚠️

What does it really take to scale a service business—without outside capital, without a “breakout moment,” and without shortcuts?

In this episode of the Growth Capital Podcast, Justin Dixon sits down with Cameron Magee, Founder & Owner of avad3 Event Production, to unpack the realities of building a national business from a college dorm room.

From surviving COVID when revenue dropped to zero overnight, to scaling through word-of-mouth and operational discipline, Cameron shares a refreshingly honest look at what actually drives long-term growth.

🔍 What you’ll learn:

• Why consistency beats “breakthrough moments” in scaling
• How word-of-mouth can outperform traditional sales strategies
• The operational fundamentals most service businesses get wrong
• What it takes to survive a full revenue collapse—and rebuild
• How to think about pricing, capacity, and saying “no” to the wrong work
• Why in-person experiences are making a strong comeback

🚀 Whether you’re a founder, operator, or investor, this episode is a masterclass in building a resilient, high-performing service business.

📩 Connect with Cameron Magee on LinkedIn: https://www.linkedin.com/in/c-magee/

👉 If you found value in this episode, make sure to like, subscribe, and drop a comment—what’s been the hardest part of scaling your business?