Ken Miller has spent decades building relationships, advising business owners, and closing middle-market transactions. But even with a strong reputation and an extensive referral network, he has learned that referrals alone do not create a predictable pipeline.
In this episode of Growth Without Referrals, Ken shares the story behind a recent $64 million transaction that began with a carefully chosen introduction and developed over two years. He explains why matching a buyer and seller based on values and culture can be just as important as the financial terms of the deal.
Ken also discusses how BlackRose Group combines referrals, paid deal origination, strategic partnerships, LinkedIn, and a global network to generate new opportunities. He shares why he turns down dozens of transactions each week, how pursuing the wrong deals affected his business, and why returning to the middle market helped him regain momentum.
This is an honest conversation about patience, discipline, resilience, and what it takes to build a more predictable business-development system.
In this episode, you’ll hear:
• How a $44 million opportunity became a $64 million transaction
• Why cultural alignment matters in mergers and acquisitions
• Where relying solely on referrals creates risk
• How BlackRose Group supplements referrals with proactive deal origination
• Why seeing more opportunities allows a firm to be more selective
• The importance of building a talented, specialized team
• What Ken learned from pursuing deals outside his core market
• Why business owners must reinvest in marketing and lead generation
• How younger team members and new technology have reinvigorated his firm
• Why Ken believes leaders must have a short memory and learn from failure
About Ken Miller
Ken Miller is the founder of BlackRose Group, a middle-market mergers and acquisitions advisory firm serving buyers and sellers across North America and Europe. Before entering the M&A industry, Ken spent more than three decades in wealth management and estate planning.
Today, BlackRose Group provides buy-side and sell-side advisory services, with particular experience in industrial companies, manufacturing, and business services. Ken and his team have completed more than $300 million in transactions.
Connect with Ken Miller
About Growth Without Referrals
Growth Without Referrals features candid conversations with business leaders about how they are creating predictable growth beyond reputation, relationships, and word of mouth.
Hosted by Mark Ferguson of Prestige Services Group, the show explores what is working, what is changing, and what leaders are learning as they build more consistent client-acquisition and business-development systems.
Email: mark.ferguson@prestige-services-group.com