Understanding Total Addressable Market Misconceptions

In this episode, we sit down with Matthias Knaur—operator, investor, and seasoned voice in the European search fund and ETA community—to explore the real levers behind scaling small companies. From a billion-dollar transformation at listed company Solera, to hands-on leadership in niche B2B services. 

Matthias Knaur—who’s led his own acquisitions to over £100M in revenue and invested across Europe’s search fund landscape—shares his deep experience on identifying, expanding, and leveraging total addressable markets. We dive into lessons from his billion-dollar corporate roles, personal acquisitions, and current investments, discussing adjacent TAMs, recurring revenue models, roll-ups, and why execution matters more than spreadsheets.

Whether you're a searcher plotting your first acquisition or an investor scanning for red flags, this conversation is packed with candid insights and war stories on what it really takes to build enduring businesses.