Any recommendations on targeting a specific industry?

October 09, 2024

by a searcher from University of Michigan - Ann Arbor in Chicago, IL, USA

For more specific searches, such as the supply chain of the nuclear energy industry (staffing, manufacturing, service providers, etc), how would one recommend searching for targets?

Would brokers be able to hone in and filter specific industries like this or would personal network and DD likely be the go-to route?

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Reply by a searcher
from University of Southern California in Atlanta, GA, USA

Hey Brandon, such an important question to ask when starting out. When I began my search I was wider in scope than you are. There were two levels that helped me. The first was more academic/fundamentals, which I called my "fast no" list. Basically what type of recurring revenue model I was comfortable with, EBITDA, capital structure etc... The second level was more personal fit. I found working with brokers and sending IOI was best because it put me in front of owners right away. I was able to talk to owners about their day to day, they were super open about their challenges and the type of CEO/Operator I would need to be in order to be successful. I came to the realization that I wanted to be an external CEO focused on growth and business development rather than financial engineering or boots on the ground operations. I was more comfortable working with CEO and VPs of Sales and marketing from my days working as a Chief Revenue Officer. I just didn't feel the fit when I spoke to HVAC, landscaping or construction companies. Ultimately I settled on digital marketing as my sole focus. Once I nailed the niche, the deal flow just opened up as I began to network solely in that space and got to know the major players and networking communities. I started speaking the same language and the personal fit became much more comfortable. Hope this helps, but your personal comfort with what your operating or selling may be very important as you get fulfillment from the job.

Reply by a searcher
from New Jersey Institute of Technology in New Jersey, USA

I’m guessing manufacturing doesn’t have ARR since you only manufacture when you get orders and have to wait for another order

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