Lay of The Land

Jeffrey Stern

Podcast

Episodes

Listen, download, subscribe

Apple Podcasts

Spotify

#242 Scot Lowry (PromiseONE) — The Right to Win in Entrepreneurship Through Acquisition

3/5/2026 • 74 min

Scot Lowry — Managing Partner and Co-Founder of PromiseONE Companies Scot is the Managing Partner and Co-Founder of PromiseONE Companies, a Cleveland-based investment firm that helps purpose-driven entrepreneurs acquire and grow established businesses through Entrepreneurship Through Acquisition, or ETA. Prior to launching PromiseONE, Scot acquired and led Fathom, a digital marketing firm he grew more than 450% over a decade — an experience that became both the financial engine and talent incubator behind PromiseONE’s long-term portfolio strategy. Today, Scot also serves as the Richard Osborne Professor of Entrepreneurship at Case Western Reserve University, where he teaches acquisition entrepreneurship and helps steward one of the nation’s longest-standing ETA programs. In our conversation, Scot and I explore Cleveland’s unique “right to win” in ETA and the decades-long lineage that traces back to his mentor, Richard Osborne. We talk about what it truly means to become a credible buyer, how to earn the trust of legacy sellers, and why understanding what matters most to them is the foundation of great dealmaking. We unpack the evolution of PromiseONE’s patient capital model, the philosophy of “your dream is my dream,” and how Scot has helped multiple operators transition from employee to business owner. We also discuss negotiation, long-term ownership versus traditional private equity, mentorship, and a deeply personal crucible moment that reshaped Scot’s leadership philosophy and sense of purpose. Scot is a thoughtful entrepreneur, investor, and teacher, and this was a really meaningful conversation — please enjoy. 00:00 Introduction to Promise Partners and Scott Lowry03:08 Cleveland's Right to Win in Entrepreneurship05:51 The Role of Richard Osborne and Promise Partners08:57 Building Credibility as a Buyer12:07 The Evolution of Promise One Companies14:55 Understanding Legacy Sellers18:04 The Importance of Relationships in Deal Making20:55 Navigating the Acquisition Process23:48 Lessons from Fathom's Growth and Leadership27:06 The Philosophy Behind Promise One's Model37:56 Choosing the Path of Entrepreneurship40:06 Building a Community of Entrepreneurs43:13 Incubating New Business Ideas46:04 The Promise Partners Model48:46 Long-Term Vision and Patient Capital51:53 The Art of Deal Making56:03 Teaching and Mentoring Future Entrepreneurs01:00:13 Reflections on Personal Growth and Purpose ----- LINKS:https://promiseone.com/about-us/ https://case.edu/weatherhead/academics/entrepreneurship-through-acquisition https://www.linkedin.com/in/scotlowry/ ----- SPONSOR:Roundstone Insurance — https://roundstoneinsurance.com/Roundstone Insurance is proud to sponsor Lay of The Land. Founder and CEO, Michael Schroeder, has committed full-year support for the podcast, recognizing its alignment with the company’s passion for entrepreneurship, innovation, and community leadership.Headquartered in Rocky River, Ohio, Roundstone was founded in 2005 with a vision to deliver better healthcare outcomes at a more affordable cost. To bring that vision to life, the company pioneered the group medical captive model — a self-funded health insurance solution that provides small and mid-sized businesses with greater control and significant savings. Over the past two decades, Roundstone has grown rapidly, creating nearly 200 jobs in Northeast Ohio. The company works closely with employers and benefits advisors to navigate the complexities of commercial health insurance and build custom plans that prioritize employee well-being over shareholder returns. By focusing on aligned incentives and better health outcomes, Roundstone is helping businesses save thousands in Per Employee Per Year healthcare costs. Roundstone Insurance — Built for entrepreneurs. Backed by innovation. Committed to Cleveland. Cerity PartnersCerity Partners, a full-service investment and wealth management firm serving high-net-worth individuals, entrepreneurs, and business owners, is proud to sponsor Lay of The Land. The firm has local roots in Cleveland and across Ohio, and like this podcast, Cerity Partners advisors specialize in serving the interests of local entrepreneurs and business leaders. They understand how to manage the total picture of wealth, both personal and professional. Cerity Partners has a unified team of specialists who collaborate on almost every aspect of a client’s financial life, including business ownership. The firm’s national presence means it can offer the resources and specialized knowledge of the largest institutions with the independence and service of a neighbor. The Cerity Partners Cleveland team understands the complexity that comes with wealth, and they adhere to fiduciary standards. Discover the financial lay of your land. Learn more at ceritypartners.com/NPR or call 216-464-6266. ----- Stay up to date by signing up for Lay of The Land's weekly newsletter — sign up here: https://layoftheland.ck.page/5f0c1e28fa Connect with Jeffrey Stern on LinkedIn — https://www.linkedin.com/in/jeffreypstern/ Follow Lay of The Land on X @podlayoftheland https://www.jeffreys.page/

Lay of The Land RSS Feed

Share: Twitter • Facebook