Did you go into searching with an idea of the industry you wanted to be in?
April 16, 2020
by a searcher from Harvard University - Harvard Business School in Los Angeles, CA, USA
I am in the exploratory phase of deciding if/when I want to pursue a search. I have a personal interest in the personal care space (hair salons), which is dominated by small, owner-operated businesses. However many of the searchers I met in school kept their options open industry-wise and focused on finding a business with the right growth opportunities and team. Would love to hear if anyone narrowed their search to a certain industry and, if so, how long it took you to find the right business.
from Fort Lewis College in Denver, CO, USA
In my subsequent businesses, I started with a new approach. My first question was what were the things I wanted personally and professionally to have and what businesses/industries did I think best supported those goals. Along with that I matched those industries with where I saw business opportunities. That was a WAY better approach! I think you can do both in terms of defining your personal/business goals and interests first and then match that up with where there are opportunities. My result was I made more money, worked on the parts of the business I was best at and enjoyed most and was able to balance it with my family life. I would say the best of both worlds.