Hello everyone - I have plans to kick off a self funded search in the near future, and in an attempt to ‘work smarter not harder’ I’ve asked a number of current and past searchers what they feel their biggest time wasters were during the process. Most said they wish they had done more introspection up front.

So, here's my question: what should a searcher have ‘figured out’ prior to starting the process?

My initial thoughts are mainly based on the Buy Then Build Target Statement model:

• -What type of company? (Product, Distributor, Service)
• -What type of opportunity? (Eternally Profitable, Turnaround, High Growth, Platform)
• -Size? (SDE/EBITDA range)
• -Geographic Preference?
• -Industries you will NOT work in?
• -What you want your daily activities to be as CEO / what are your core competencies as a leader?
  
• -Does your family/spouse REALLY understand this venture? (this came up quite a bit!)
• 
  
  What edits would you make and what am I missing?