Those are the words of Elliott Hyman, CEO of Lyra Technology Group, before sharing with us the top things he did to build a $1 billion MSP rollup.
With over 100+ deals in the last 8 years and a near-perfect seller NPS, Elliott, with a shy laugh and humility, shared the fundamentals he set and followed on his journey.
Elliott has spent nearly a decade structuring founder-friendly deals, building repeatable operations, and proving what disciplined rollups really look like. Those numbers alone put Lyra in rare company as one of the most dominant rollups in the country, and we spoke with him to get an inside look at the strategies that led them there.
Most might assume building a billion-dollar rollup is about bold acquisitions, flashy tech, or being first to market. And while those are all certainly important, Elliott’s experience also makes the case that success can look much simpler than that. Sometimes, it just looks like doing the basics exceptionally well.
For Elliott, three simple principles have guided nearly a decade of disciplined growth:
“Don't assume you know more or better than the founders who have built something valuable," Elliott shared.
Lyra approaches every acquisition with the mindset that founders know their business best. That philosophy shapes how integrations and operations are handled:
Start with humility: Listen first. Ask questions. Observe before making changes.
Take a quick look at the data below. This data reinforces Lyra’s belief that respecting and understanding a company’s culture has a ton of power to drive tangible business results. As shown in the McKinsey analysis, companies that effectively manage culture during integration are significantly more likely to achieve or exceed their cost and revenue synergy targets.
TLDR? Honoring a company’s culture is both the right thing to do for its people and a proven driver of performance.
"Understand and respect what already works," —a byproduct of the guidance outlined above—"to build a foundation that can scale reliably without disrupting what already makes the business successful."
AKA:
Don’t force playbooks: Each acquisition is unique. Observe existing processes and learn what drives results before imposing standardized procedures.
Get the fundamentals right: Focus on solid revenue models, reliable operations, and repeatable client delivery.
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60 % of organizations are predicted to abandon AI projects unsupported by AI-ready data. |
This leads to tech/AI amplifying what already works. AI should enhance operations that have already been proven repeatable and scalable, not serve as a shortcut to either. Elliott’s point is simple: get the fundamentals in place first—people, processes, and data—then let AI amplify results.
If he were starting Lyra today with all the AI and tech available, Elliot’s Day 1 priority would still be to build a robust data infrastructure first that AI can then actually use.
The foundation has always been the point, and the stakes aren’t theoretical, either: Gartner predicts that through 2026, 60% of AI projects will fail without AI-ready data anyhow.
That’s where the next evolution comes in. Once the fundamentals are set, the question becomes: How do you design a business that’s built to harness AI from the start—without losing sight of what makes it work in the first place?
In many ways, the AI-native rollup is the natural extension of that same principle. Instead of layering AI onto existing operations, it starts with the infrastructure, data, and processes that make AI effective from day one.
Where a traditional rollup acquires multiple smaller companies in the same industry, using AI as a helpful tool rather than a driver, the AI-native rollup is designed from the ground up to make AI the core engine of operations.
Designed from Day 1 to leverage AI across processes and decision-making.
Operations, integrations, and even strategy are intertwined with AI.
While the market rushes toward the idea of “AI-native rollups," Elliott is quick to point out that technology alone doesn’t guarantee success.
Even as Lyra embraces AI across its platform, it’s not the strategy itself. Rollups—AI-native or traditional—still live or die on a few key fundamentals: fragmented markets, solid revenue models, and sticky, cash-flow-driven services.
Many new entrants are betting AI can integrate acquisitions, run sales engines, and replace hard-earned operational muscle. Meanwhile, Elliott’s perspective is simple:
“The engine in any company has to exist before the tech can accelerate it.”
That philosophy has guided Lyra since its first deal nearly a decade ago. Instead of imposing rigid AI playbooks or replacing founders’ judgment, Elliott focused on structuring deals that preserved leadership, kept integrations light, and prioritized fundamentals above all else.
When asked about the boldest move he ever made—one that initially made him nervous—Elliott didn’t point to technology or market timing.
Despite it being the only down-year, he doubled down on talent. He invested in people, not tools, trusting that the right team would navigate the challenges ahead. That gamble paid off: the strengthened leadership and skilled teams became the foundation for future acquisitions and growth, proving that in a rollup, in any business, really, people are the ultimate lever.