Current Searcher, Self-Funded
Survey completed September 21, 2020.
Why did you choose your model? Would you make the same choice again?
Funding and complexity limitations and yes, I would.
Are you searching with a partner? If so, why did you choose them? How did you find them? If not, why did you choose to search solo?
Solo search – again, wanted to decrease the complexity/challenge due to incorporating additional parties to the mix.
When is the right time to start speaking with investors? How did you select your search and/or acquisition investors?
Once you are able to have a informed conversation (ie. have your thesis thought out, plan for next steps, etc.) Never to late or early to start talking to the funding partners.
Did you get an MBA before searching? If so, where and why?
Yes, Indiana University.
What is your work experience prior to searching?
Strategy & Ops Consulting.
What industries and sizes of companies are you pursuing?
Industry agnostic across B2B, $750k – $7.5M EBITDA.
Are you doing a geographically focused search? If so, where?
Yes, southeast US.
How long have you been searching?
What systems do you use? (CRM, Email Manager, etc)
How do you organize your day?
Full-time job takes priority and then whenever I can fit in the search.
How do you identify prospects to acquire? Do you use only brokers, only direct outreach, or both?
Primarily try to utilize direct outreach but have been able to learn / get exposure to deals through brokers.
Approximately how many direct outreach calls and emails have you made to owners?
How do you find company lists?
Do you subscribe to broker deal lists? Which ones?
Do you use interns? If so, how many? What do you have them do?
Approximately how many deals have you reviewed?
How many companies have you gotten to the LOI stage with? How long before your first one?
What has been the most challenging part of your search? What was harder/easier than you expected?
Get to an owner before a broker has gotten to them.
What articles, books, and resources were most helpful to you in preparing to search?
Walker Deibel – book and Acquisition Class.
What do you wish you knew prior to searching?
Start earlier, why wait?
What single piece of advice would you share with prospective searchers?
Understand why you are doing what you are doing. It’s not easy or simple – but knowing this will keep you focused and moving towards your goal.