istressed businesses are not usually advisable acquisitions for the first-time business buyer.

Well today's guest flouted that convention — and was rewarded for it.

Ben Rizzo bought a 4th-generation, 90-year-old elevator servicing business in Pittsburgh.

The business was in the red, but when Ben took a close look at it, he jumped.

We spend time on how he got comfortable doing that, his analysis.

It's a lesson in looking beyond the P&L and reaching to understand the intrinsic value of a business.

This interview is also a lesson in how to effect a successful turnaround.

Ben shares in detail what was ailing the business and the cures he prescribed.

How he quickly got the team on board for dramatic changes.

How crucial the mutual trust between him & the seller was.

How crucial recurring revenue was.

And how, just 2 years later, he'd not only stabilized but doubled the business and...

Found a buyer, resulting in a life-changing outcome.

We also get into what Ben has done since, including diving in again as an owner-operator of another business in Pittsburgh.

And potentially another in the months ahead.

Which would make him something of an accidental holdco entrepreneur.

(Because he was not an aspiring holdco guy, and he speaks plainly about the pros & cons of that model.)

Lots & lots in this interview with Ben Rizzo, former owner of Hadfield Elevator.