Owner vs CEO: 2 Approaches to Buying a Business
Derek Turner has done both a traditional search fund and self-funded. We hear both stories & explore the differences.
Topics in Derek’s interview:
The advantages of a geographically-focused search
His method for pitching business owners doing cold outreach
Challenges within the laser van business
Being a good soldier vs being a sucker
The downside of growth
The perils of buying from unpleasant owners
How the company grew with no marketing
Hiring a GM to run the business
Why have a board with a self-funded acquisition
Why self-funded search feels different than traditional search funds
Links…
The skinny
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