Is Running a Search Fund Fulfilling?

February 10, 2025

by a searcher from INSEAD in 77300 Fontainebleau, France

For those who have gone through or are going through the search fund journey. Do you find it genuinely fulfilling?

I understand the financial upside, the challenge of operating a business, and the appeal of being your own boss. But beyond the rational benefits. Is it fulfilling for you or does it feel just like any other job?

I’d appreciate honest, unfiltered perspectives. I am still on the fence about all this. Thanks in advance!

1 Like

31 Replies

313 Views

Replies

Reply by a searcher
from Brigham Young University in Utah, USA

I would not say that a search fund has been fulfilling in my opinion. Of course, if you buy what you are searching for then great, the adventure begins, but the search itself can be challenging. I've been searching full time for over a year now and, even though I have learned a lot, I still see it as means to an end. It can be lonely at times, stressing - specially if you are doing a sell funded search - and emotionally taxing. It requires to be consistent, methodical, leverage tech, and many other attributes.

Reply by a searcher
from INSEAD in Oakland, CA, USA

Searching for a business is hard: the work can be repetitive, it can feel like you're getting doors slammed in your face, and since your success measure is closing on an acquisition, the process can feel long and thankless. That said, searching for a business is also a lot of fun: constantly learning new industries and models, blend of sales-type work (engaging with brokers & owners, building deal flow) and deep analysis (financial analysis, industry analysis), thinking through how a potential acquisition might work (structure, logistics, and operations). On the worst days it feels like you're unemployed clicking around the internet, on the best days it can feel like you're on day 1 of Berkshire Hathaway. Managing the highs and lows is critical to your ability to continue to execute every day. As others have pointed out, the search isn't the end goal, so the bigger question is will you find it fulfilling to be the owner/operator of the business that you acquire. Will you want to wake up and work on that challenge every day?

+29 more replies.

Join the discussion