The Search Fund Podcast – Détails, épisodes et analyse

In this inspiring episode of "The Search Fund Podcast," we delve into Alexander Schuil's remarkable journey from an early interest in entrepreneurship to achieving a significant exit through a search fund. Alexander shares his beginnings, from diverse early work experiences to pivotal educational moments that shaped his path. He discusses the strategic acquisitions that propelled his business forward, leading to a successful exit. This episode is a must-listen for mid-career professionals seeking to explore entrepreneurship through acquisition, offering valuable insights into the challenges and triumphs of the search fund model. Alexander's reflections post-sale and his ongoing contributions as an investor and board member provide a comprehensive view of the search fund ecosystem. Join us to uncover how Alexander's journey can inspire your own path to entrepreneurial success.

In this episode, Sumit Aneja recounts his entrepreneurial journey from luxury shaving start-up founder at Yale to search fund entrepreneur in Canada. Sumit outlines his unique experience acquiring a tech company, raising capital amidst competing searchers, and dealing with the pressures of closing, all while juggling key family milestones, culminating in his migration to Montreal and the acquisition of Voxco.

Some advice from Sumit:

'It has to feel right to you. If somebody’s doing it for an easy lifestyle or glamour, those are clearly the wrong reasons to do it, I can tell you this much.'

'Running a company is hard but getting to run a company at such an early age is a privilege and it should be treated as such. It comes with a lot of responsibility so you have to be ready for it.'

Resources:

https://www.voxco.com/

https://www.smeventures.com/

In this episode, Martin recounts his entrepreneurial journey from management consultant to launching a search fund in Mexico. Martin highlights the importance of tapping into the search fund ecosystem, dealing with the pressures of closing, and strategies for value creation while discussing what it’s like to follow your passion, culminating in his decision to venture away from the 130-year-old family business to acquire Auronix.

Some advice from Martin:

"The only way you learn is by taking the leap, and learn by falling down."

"It sounds very romantic - going out there buying a company and operating a company. And it is extremely rewarding, but it’s also really, really challenging."

"The beauty about the search fund is that it’s been done so many times, and there’s such a fantastic network around the search fund ecosystem, from fellow searchers to investors to advisors... There are best practices out there."

Resources:
https://www.polocapital.mx/
smeventures.com
https://www.auronix.com/

In this episode, Corbin Butcher recounts his unique journey from German Literature graduate to launching the first search fund in the Czech Republic with his wife, outlining his transformation from US marine to pioneering search fund entrepreneur. Corbin highlights the importance of operating experience and a good partner while discussing what it’s like to blaze a trail in a new country, culminating in his acquisition of Beire Exhibitions.


Some advice from Corbin:

"I guess it doesn’t need to be said that it’s fairly ambitious. You have to have a lot of confidence in your thesis and in what you’re doing."

"if you’re gonna try to blaze a new trail in a new country... I think having a partner, it made all the difference in my search."

Resources:
https://www.beire.eu/en/home
https://www.smeventures.com/

In this episode, Daniel Muzquiz recounts the 20-year journey that has taken him from oil rigs in Texas to launching three successful search funds, outlining his transformation from mechanical engineer to serial search fund entrepreneur.  Daniel highlights the importance of a good partner and acquisition framework while discussing his three successful acquisitions, culminating in his most recent acquisition: The Predictive Index.

Advice from Daniel:

“Find something you like, love the fundamentals, and then go add value. Focus on adding value, don't focus on trying to make money. Create value in the world."

“And the most important thing, get good people around you, not just good at executing but good people. There's no substitute for enjoying working with talented people”.

Resources:
https://www.smeventures.com/
https://www.predictiveindex.com/
https://www.nabors.com/
https://www.bcg.com/

In this episode, two-time search fund entrepreneur, 20-year search fund investor, Stanford GSB professor, and now author David Dodson joins us to discuss his new book The Manager's Handbook, which derives lessons from his life and experiences with search funds. 

From his humble Colorado upbringing to unconventional early jobs to success as a CEO and investor, Dodson's journey serves as a testament to the power of ambition, collaboration, determination, and solid decision making. Don't miss this insightful episode that explores the life and accomplishments of an exceptional individual.

In this episode we hear from Sandy Paige, who is the self-proclaimed oldest person to launch a search fund. While I'm not sure that's true anymore, I think it might have been true when he launched a traditional search fund in 2017, focused exclusively on Northern California, at age 48. Most investors actually declined to back his search, possibly due to his unique profile and geographical limitations. But Sandy now has the distinction of being not only the oldest, but also one of the most successful search funds to date, having just sold his company for 295 million dollars.

Jake Cervilla wanted to be a business owner since age 12. Now he is owner and CEO of Interland Design. In this episode, Jake remembers the business owners he looked up to throughout his career before making an acquisition only months before the COVID lockdown. Reflecting on entrepreneurial dreams, he says that being a business owner is harder than he expected, but that he wouldn't have it any other way.

Chapters

00:01:48     Early beginnings on the water

00:05:48     Teenage side jobs & mulch

00:07:03     University of Virginia

00:08:40     Financial advisory (a.k.a. sales) & consulting

00:13:28     Tepper MBA & entrepreneurial alternatives

00:17:18     Blacktail Capital

00:19:06     Interland Design & COVID

00:23:03     A new leader

00:25:12     Why house painting?

00:26:13     Reflections & words of wisdom

Some advice from Jake:

"Get those mentors... My two professors and a couple of my friends have been that kind of sounding board, safe group to talk to, because they've been there, they understand it, and like you said, the CEO section can be very, very lonely."

Resources:

interlanddesign.com

blacktailcapital.com

tepper.cmu.edu

In this episode, Tiago recounts a conventional corporate journey turned unconventional. He and his partner acquired two businesses about a year apart, marking the first acquisitions in Portugal's budding search fund market. Now helming TECLENA and JUNCOR as co-CEO, Tiago shares the thinking that spurred him into the search fund space, and how his robust partnership has enabled him to create value and lead both companies through the supply chain crisis brought about by the pandemic.

Chapters

Early beginnings: business and finance (5:21)

Discovering the search fund model (9:50)

Consulting, partnerships and new markets (16:46)

The anatomy of the search (26:04)

The two acquisitions: adding value as co-CEO (38:48)

Past, present and future goals (48:37)

In hindsight: advice for aspiring searchers (51:44)

Some advice from Tiago:

"You don’t need to have a lot of prior experience, if you really wanna be an entrepreneur. If you really want to do it, you can do it. There are a lot of experienced people in the search fund environment who are willing to help, willing to coach you. So it’s just a question of whether you really want to do it, whether you really want to be an entrepreneur or not."

"I wouldn't worry too much about the challenges or the things that you probably wouldn’t be able to do because you're going to have a big, interesting environment around you that will support you during your search. You'll be entering an ecosystem. There are always investors, ex-searchers who have been through it, like me, and can help you achieve your goals."

Resources:

zinc.capital

smeventures.com

teclena.pt

juncor.pt