Working In vs. Working On an Acquired Business?

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January 24, 2026

by a searcher from Pepperdine University in United States

I’d appreciate perspectives on how others think about “working in” vs. “working on” an acquired business. In cases where the product, culture, geography, and returns are desirable, are you opposed to stepping into the business operationally, or do you view that as consistent with a sound acquisition thesis? For those with experience: • How did your role evolve post acquisition? • What functions did you initially step into, and which did you prioritize exiting? • At what point does heavy operator involvement enhance value versus constrain scalability?
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commentor profile
Reply by a searcher
from Thomas A. Edison State College in Tampa, Florida, USA
Personally, I think it is a total fantasy to buy a business where you don't have to be involved at all in operations unless you have already made it big financially. Everyone has to start somewhere and all the wealthy people I know/have heard of indeed, started somewhere. As in, they had to work hard, get their hands dirty, put in long hours, fill in for people who call out sick, fire people and take up the slack for those that were fired, etc. etc. Certainly, working toward focusing more on strategy and overall direction (or more acquisitions) is the direction we want to move in. But I would suggest that unless you already made a ton of money or inherited a ton of money, I just don't think it is realistic to assume I can lever up (or partner up) and buy a big business and just do only high level tasks. I don't mean to sound harsh...I have just been around a while and get tired of the "passive" income line or the idea that it is possible to start out at the highest level. We all have to start grinding somewhere and there really isn't a way to shortcut that, while there are ways to simplify and optimize things like buying in the right industry, using SBA loans, making money in real estate, etc. Working smart is definitely a thing.
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Reply by an investor
from Wesleyan University in Dedham, MA, USA
The core of ETA is buying a business to run it, to become the heart and soul of the next leg of the company's journey. See my post here on the most recent Yale study on multiple expansion. Viewing this as a day trade is absolutely insane and wrong.
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