I do think there are parallels for the SBA self-funded path, too. The comments about an increase in aspiring acquirers with little to no real world outside business leadership or operations experience holds true for self-funded, too. The right answer for some (many) exploring SBA acquisition now might be to stay the course with the W2, get more work experience and come back to this when more prepared from a resume and PFS perspective. Business acquisition will still be here 10 years from now just like it's been here for the past 20 years.

In college, I had a business law professor who once suggested I consider becoming a lawyer. My response was that there were already so many lawyers out there. He replied, “Yes, but there’s always room for great attorneys.” Looking back over the last 30 years, I don’t believe we have a shortage of attorneys. But as bankers, we’re constantly seeking out the great ones to work with our clients. So, while there’s no shortage of lawyers, there’s definitely a shortage of great ones. I don’t think searchers are going away anytime soon because they fill a gap that PE firms or other buyers won’t. But searchers face two major hurdles: experience and capital. To convince a solid business owner to sell, you need to demonstrate you have the experience to step into their shoes and run the business. And if you’re trying to win over a banker and owner, you’ll need to show concrete proof of funds—not just hope and promises. I liked the article, thanks for posting!