Full-Time vs. Part-Time Search: My First LOI Just 21 Days Into My Full-Time Search

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September 02, 2025

by a searcher from Harvard University - Harvard Business School in Highland, UT, USA

I just submitted my first LOI on Labor Day, and while I'm hoping it's the only one I'll need, this milestone has me reflecting on a common dilemma for self-funded searchers: Is it better to search full-time or part-time? The numbers from my own experience tell a compelling story about efficiency. My Part-Time Search (1 year): While at my full-time W2 job, I reviewed roughly 300 companies and requested 24 CIMs over the course of a year. I got close to an LOI on one company, but the deal ultimately fell through. My Full-Time Search (2.5 weeks): In the past 21 days of searching full-time, I've already reviewed 150 companies, requested 12 CIMs, conducted a site visit, and submitted my first LOI. The flexibility to move quickly has been a game-changer. I don't have to navigate around a W2 work schedule, which has allowed me to act on opportunities as they arise. And, if I'm honest, having that "fire under me" to get things moving has been a powerful motivator. While the opportunity cost of giving up my W2 income was a significant consideration, the potential to find and acquire a company much more quickly has so far tipped the scales for me. That said, I don't think a full-time search is for everyone. As someone who is a bit further along in my career, I was able to fund this search. If I were earlier on with four small kids, I might have opted to keep my search to a part-time basis. What's been your experience? For those of you who have searched both part-time and full-time, what were your key takeaways?
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Reply by a searcher
from California State Polytechnic University in Pomona, CA, USA
I think the financial runway is key. I was successful on my first LOI, with a very narrow target for acquisition in regards to industry and type of company. Delays always happen. What I though would take 4-5 months took almost a year.
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Reply by a searcher
from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) in Monterrey, Nuevo Leon, Mexico
Do you think the full dedication also impacted the quality of the deals that you came through or was it only the speed advantage? Top of funnel to CIM conversion was constant, so I guess the main advantage was the throughput, no?
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