Navigating the Lack of Operational Experience as a Searcher

May 09, 2024
by a searcher from Lafayette College in New Jersey, USA
Searchfunder Community,
How do sellers, brokers, investors and lenders view a searcher's lack of direct operational experience and what are ways that you've seen searchers effectively communicate how they can overcome that?
I have been in investment banking for ~10 years helping lower-middle market companies sell and raise debt and/or equity capital. Presumably there are others with similar M&A or deal advisory and consulting backgrounds that have had to navigate this question and communicate why they believe they are motivated and capable of making the leap to acquiring, operating and building a small business.
I'd be interested in discussing. Please feel free to send me a direct message to connect. Thanks
from Bowling Green State University in Surrey, BC, Canada
On an industry by industry basis, you could outline what steps you would take to get up to speed. Maybe you have a soft circle of Advisors with operational experience to help guide you post-close - ie. HR, Accounting, Admin, Marketing.
And remember to talk the talk - if you've seen a bunch of industrial manufacturing businesses through your sell-side days, use the lingo when you're talking to a broker about the industrial manufacturer they're repping. Or, if it's food manufacturing, or whatever. It goes a long way imho.
from University of Michigan in Indianapolis, IN, USA