ETA Searchers: Will You Be the Operator or Hire One?

March 19, 2025

by a professional from Texas State University - McCoy College of Business in Sidney, NE 69162, USA

For many searchers, acquiring a business comes with a big question: Will you step into the Operator role yourself, or will you hire someone to run the business?

If you're planning to hire an Operator: ✅ What resources are you using to find the right person? ✅ How do you ensure they successfully transition into the business?

If you're becoming the Operator, how are you preparing for the leadership shift from dealmaker to CEO?

For those of you who’ve hired an Operator, how did you set them up for success? And for those stepping into the role yourselves, what’s been your biggest adjustment?

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Reply by a searcher
from New York University in New York, NY, USA

The decision really comes down to the type of business and the skill set of the searcher. Some businesses require deep industry expertise or an existing leadership presence, while others are more plug-and-play with the right systems in place. For those hiring an Operator, sourcing the right person is key — whether through industry networks, recruiters, or the existing team. Structuring incentives to align them with long-term success is just as important. For those stepping into the CEO role, the biggest shift is moving from deal execution to leading people and setting a clear vision. Underwriting a business on paper is one thing, but motivating a team and driving daily operations is another challenge altogether. The transition requires a new mindset and a strong focus on leadership.

Reply by a searcher
from Keller Graduate School of Management of DeVry University in Tampa, FL, USA

I agree with everyone here that if you can, it’s ideal to roll up your sleeves and step into the operator role—at least for a bit. That firsthand exposure is incredibly valuable. That said, it’s not always feasible for every buyer, especially depending on geography, stage of life, or portfolio structure. In those cases, I look for deals where the seller has a strong right hand—someone who's already managing the day-to-day and is promotable to operator. If there's budget, another approach I like is finding a rising star at a competitor who’s hit a glass ceiling. They often bring industry knowledge and fresh energy, and they’re hungry for ownership or a leadership seat they couldn't get elsewhere.

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