Career after failed search?

June 12, 2023

by a searcher from University of Maryland - Robert H. Smith School of Business in Washington, DC, USA

Hi all, i was contemplating traditional search but I am fearful that if I look for 2 years for a company (and I end up not finding one and closing my fund) that my career will suffer. Is it possible to get jobs after a failed search? Is 'searching' valuable to an employer, or would it essentially be a waste of 2 years if I dont find a company?

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Reply by an investor
from Trinity University in Chicago, IL, USA

Highly recommend reading AJ Wassersteins note On the Nature of a Search Fund Not Working Out as Planned: https://yale.app.box.com/s/dadba48kb1crl4dzt0s793lpoovweewm

Anecdotally -- throughout the search, hundreds of new connections are made. Searchers seem to often get job offers from prospective sellers, or other individuals they meet along the way. There are usually prospects to circle back to following a "failed search."

Reply by a searcher
in New York, NY, USA

In many ways it will depend on what you want to do afterward. The skill set developed over a search is largely determined by you, and your success in exiting a failed search into a corporate role will in large part depend on how strategically you develop and market the skills from the search and the networking that you do prior to failing. It is very possible to go from a failed search into a success career at financial sponsors, small companies, or large corporations. As mentioned above, a big part of the task is framing your experience. But I would also add that it's important to have an idea about what you want to do in the event you need to exit a failed search and focus on developing a complementary skillset during your search that will be marketable in that field.

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