Do you have a team of advisors for your search fund?

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September 11, 2024

by an member from University of Washington in Mount Vernon, WA, USA

If so, has it been useful to have them as a resource? Did you explicitly go looking for a team of advisors? Where did you meet them?

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Reply by a searcher
from American University in Fairfax, VA, USA
Yes, I do have a team assembled for my search fund. My team consists of peers who are on a similar path, which allows us to brainstorm ideas and strategies together. I also collaborate with business owners who are further along in their journeys, offering valuable insights and advice. Additionally, I’ve put together a virtual team of professionals, including loan brokers, tax experts, and attorneys, who I can engage as needed. I did this to avoid the lengthy vetting process at the last minute.


If I were to start over, I’d definitely begin by establishing relationships with several loan brokers and keeping 1-2 on speed dial. Having those connections in place would ensure that I can get the deal across the finish line more smoothly and efficiently.
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Reply by a professional
from Duke University in Los Angeles, CA, USA
I would add a coach as a part of your team to be thinking about. Different people engage a coach at different times mostly related to when they can support the expense - but some see a huge ROI in helping them stay grounded and making good decisions in the search process and others leverage it from the transition into CEO and operating. Either way getting to know coaches (like all of the different advisors you'll engage finding the fit for you is important) throughout your search process is helpful so that when you are ready you are not just beginning the "dating' period. Happy to expand more on this if helpful.
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