I'm looking for some advice from those who have successfully executed operator-led roll-up strategies. By way of background, I'm the CEO of a growing communications systems integrator (structured cabling, security, AV, wireless, DAS/ERCES, and related technologies). My immediate focus is completing the acquisition of majority ownership in the company, but I'm already thinking about what the next 10–15 years could look like. Long-term, I believe our industry is highly fragmented and presents an opportunity for a disciplined regional roll-up. While I understand the fundamentals of acquiring businesses with SBA financing and traditional debt, I'm trying to better understand how experienced operators fund multiple acquisitions without becoming overleveraged. Some of the questions I'm wrestling with include: • At what point do operators typically transition from primarily debt-funded acquisitions to equity-backed growth? • How do you think about bringing on outside investors while maintaining operational control? • Are independent sponsors, family offices, minority growth equity, or other capital partners the most common path for operator-led roll-ups? • How do investors evaluate a platform company before they're willing to fund a buy-and-build strategy? • What books, podcasts, case studies, or resources would you recommend for someone looking to become an effective acquisition entrepreneur rather than a traditional private equity sponsor? I'm less interested in financial engineering and more interested in building a great operating company that can thoughtfully acquire, integrate, and grow other businesses over time. I'd appreciate hearing from operators, investors, or anyone who has lived through this journey. What do you wish you had understood before launching your first roll-up?