Advice for first 30/60/90 days? I'm a REAL person :)

September 01, 2020

by a searcher from Yale University in New York, NY, USA

Disclaimer OR why is this anonymous? I have a competitive FT job in NYC I'm trying to keep while prepping for the search. However, I'm here to contribute and learn so I'd appreciate any response for one/more questions below. Thanks all!

You raised search capital OR embarked on a Self Funded geographically focused search (North East in my case) - where do you start day-1 and in the first few months? I assume you have a website, LLC etc already.

Feel free to answer some or all of the question below. THANK YOU in advance!

1. What are the first key steps you need to take in the first###-###-#### days?

2. How do you think of a schedule for yourself? e,g, direct sourcing X hours a week, contacting brokers Y hours a week etc.

3. Should you hire interns right away? If so, what should they do on day-1? (similar to question #1 and #2)

4. Say you decided to contact brokers:
4a. how do you find them?
4b. do you try to get on the phone with them or sign up for their email lists first to save everyone time?

5. Say you are also doing direct mail:
5a. any databases you could buy? Which ones?
5b. should you sign up for diff newsletters of chambers of commerce (COC) and organizations such as ACG? Should you call diff Chambers' of commerce? Anything else?
5c. Should you focus your COC outreach on big cities in your geographic region?

6. Anything else?

I hope the answers from more advanced searchers could help searchers who are just starting! Thanks in advance for contributing to the community. John

Reply by an admin
from Stanford University in Honolulu, HI, USA

Hi, Anonymous - I don't recall this question being asked before. So, I am eager to hear what others have to say. In the meantime, here are a few posts under our #bestof category that may be helpful for folks starting out:

WHAT DO YOU WISH YOU HAD LEARNED BEFORE LAUNCHING?https://www.searchfunder.com/post/what-do-you-wish-you-had-learned-before-launching

YOU'RE NOT AS DIFFERENTIATED AS YOU THINK AS A SEARCHER.
https://www.searchfunder.com/post/youre-not-as-differentiated-as-you-think-as-a-searcher

WHAT DID YOU DO###-###-#### MONTHS IN ADVANCE OF LAUNCHING YOUR SEARCH FUND?
https://www.searchfunder.com/post/what-did-you-do###-###-#### months-in-advance-of-launching-your-search-fund

Reply by an intermediary
from Pennsylvania State University in Philadelphia, PA, USA

In the first 30–90 days, it’s key to define your criteria clearly, get your CRM and tracking system in place, and start sourcing deals consistently. I’d recommend blocking out weekly time for sourcing, outreach, and reviewing CIMs. Even a few hours a day can build momentum. If you're open to exploring a Done-With-You model, I'll give you a quick overview of what we do. My team sources deals nationwide, both on and off market, based on your criteria. Our M&A analysts handle legal and financial diligence, and our private equity vets negotiate the deal down. We also connect you to SBA and private lenders if financing is needed. We work directly for the buyer and don’t take a percentage of the deal. Feel free to reach out via LinkedIn or Searchfunder if this interests you.

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