Current Searcher, Self-Funded
Survey completed September 17, 2020.
Why did you choose your model? Would you make the same choice again?
I chose the model because I am still holding a job (which I know is a cardinal sin already) and therefore didn’t want to raise capital.
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?
Yes, prior business partners in an operating business and real estate.
When is the right time to start speaking with investors? How did you select your search and/or acquisition investors?
Did you get an MBA before searching? If so, where and why?
What is your work experience prior to searching?
Public Accounting, Relationship Management at a Bank, Software Sales.
What industries and sizes of companies are you pursuing?
Service (HVAC, Landscaping, Cleaning).
Are you doing a geographically focused search? If so, where?
Yes, Louisville, KY.
How long have you been searching?
What systems do you use? (CRM, Email Manager, etc)
Broker sites, excel based CRM.
How do you organize your day?
Work full time, do it in free time.
How do you identify prospects to acquire? Do you use only brokers, only direct outreach, or both?
Brokers, no direct outreach as of yet.
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?
Finding qualified businesses.
What articles, books, and resources were most helpful to you in preparing to search?
What do you wish you knew prior to searching?
How hard sourcing would be. Difference between broker released financials and financials after diligence.
What single piece of advice would you share with prospective searchers?
Do it full time.