Criteria used to select a partner for search?

August 02, 2024

by a searcher from Case Western Reserve University - Weatherhead School of Management in Cleveland, OH, USA

Hi everyone -- I'm beginning to get the search bug and still deciding on parameters such as going solo or partnering up. For those who worked with a partner: Did you have any criteria to decide that you two could handle the emotional toll that ETA can take, both pre and post-close?

I recently listened to one of Will Smith's old Acquiring Minds podcasts with Jessica Markowitz. She mentioned multiple discussions and tests she and her partner did to ensure they could maintain their friendship through the process.

I know every search is different, but I'm curious if there are things you (partnered searchers) did to make sure you both could handle this journey together.

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Reply by a searcher
from London Business School in State of São Paulo, Brazil

Similar to what you mentioned in your post and some of the comments above, we did some tests (MBTI, Human Design, DISC, among others) to assess our compatibility - caveat we do know each other for 20+ years, and despite having similar core personal values we have never worked together before so this was a key question. In the end, you should find someone you can trust, rely on, be yourself, have difficult conversations with. Also it is important that both of you understand priorities in each other's lives and personal moments and goals (e.g., it is more unlikely that someone with a family with kids in school is willing to move to a remote location vs. a single person)

To add to ^redacted‌ questions, I would add - Do we have similar visions of the future? Acquiring, Operating and Selling the business (and the timing to do so) might vary according to the personal situation each one is

Reply by a searcher
from IESE Business School in South Jakarta, South Jakarta City, Jakarta, Indonesia

Was a self funded searcher who found operating partners down the road. Aside from the technical expertise I got from my partners, I also got the emotional maturity of more senior professionals to compensate for my MBA mindset that is probably abit more idealistic and theoritical. That said, I held on to my views when it came to making difficult decisions of letting an investment opportunity go because the seller was not fully transparent to the point where me and my partners disagreed on whether or not we should go ahead. I had the veto so it was an easy decision but the pushback was tiring and felt like I would have needed to sacrifice on my personal values had I chosen to go on. I would also suggest to ask whether the partnership will continue if one drops out because of key-man risk. I didn't regret working solo and would do solo again but would not mind to partner with someone who has the same personal values for when times get tough.

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