Have been very impressed by the amount of students (usually freshman or sophomores) that have reached out for internships. It's good to see the proactivity and hunger to learn. I've been fortunate enough to find two really great interns, and I am happy to talk with others that are interested. Most students are thinking ahead to a summer internship in PE or banking, and are right to believe that working with a search fund for a while can be a great crash course/help get them more prepared for that.
Some thoughts, for what they're worth, to other aspiring search fund interns that hopefully will help:
-do your homework on search funds ahead of an internship: read the GSB search fund primer (or I will send you Kellogg's primer), read HBR Guide to Buying a Small Business...these two things can be knocked out in a few hours and will give you a ton of foundational information that will help you learn the basics + come ready to provide value in your internship on day 1. There are tons of resources out there and they can be consumed quickly to get you going. I highly recommend checking out this course on Wall Street Prep as well: https://www.wallstreetprep.com/wsp_course/lbo-lower-middle-market/
-think through what you'd like to get out of the internship: reps with financial modeling? Acquisitions 101 (eg a bit of everything)? Seller interactions? It helps if you have a perspective so that whomever you're interning with can tailor the internship to help you progress in the ways your most interested. Also, make sure you're taking an internship with someone that will be looking out for you / helping you learn. It should be a two-way street, not a one-way street
-be transparent with availability and ready to commit: most internships will be unpaid, but that of course doesn't mean there's no commitment required. The searchers you will be interning for are putting their lives into this, and while you won't be expected to put anywhere near that level of skin in the game for an unpaid internship - you should think through what your resource availability is / you can commit to so that the search fund has a good idea how you might slot in. Be that 5 hours a week, 10 hours a week, 1 month, 3 months, 6 months - it can be whatever resource makes sense for you, but be ready to commit the time and effort.
Good luck!
A note to aspiring search fund interns
by a searcher from Northwestern University - Kellogg School of Management
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