Learning the Basics

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December 03, 2024

by a searcher in Summerville, SC, USA

As I understand it, finding an internship and working for free for some time is a great way to get your foot in the door of the industry.
What are some methods or learning sources you used to help you close your first deal?

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Reply by a searcher
from Boston University in Iowa City, IA, USA
I completely disagree with the whole free “internship” concept in the search fund area. 


If the work has economic value, pay for it/get paid. This is capitalism not charity.


I'd mention many of the same books as ^redacted
1. General background:

Buy Then Build https://www.audible.com/pd/Buy-Then-Build-Audiobook/###-###-#### ?source_code=ASSGB149080119000H&share_location=pdp

HBR Guide https://www.audible.com/pd/HBR-Guide-to-Buying-a-Small-Business-Audiobook/B0CVNQ7G6R?source_code=ASSGB149080119000H&share_location=pdp 3.

Stanford Primer https://www.gsb.stanford.edu/experience/about/centers-institutes/ces/research/search-funds/primer

Business Criteria

1. Sketch from the above (Deibel is great for that), explore podcasts and take notes:

Acquiring Minds https://acquiringminds.co/webinars
Webinars and Podcasts -- you might also find a thesis on an area you want to find a biz that interests you.

2. redacted@PolskyCenter/playlists (ETA / Search Fund lists are in there)
commentor profile
Reply by a searcher
from Washington and Lee University in New Haven, CT, USA
Hi Justin, I have not started my search yet so take my words with a grain of salt. You are correct that serving as an unpaid intern for a current searcher is a great way to get a better sense of the search process. If you have not already read the Stanford Search Fund Primer or the HBR Guide to Buying a Small Business, you should. A.J. Wasserstein's SOM faculty page has a lot of great (free!) resources as well. To quickly get up to speed on industries, you can use the abbreviated IBISWorld reports available to you on this site with a member account. Reading through industry association materials can often also be a good use of time.
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