Lessons Learned: Building Community with Karen Spencer

While we unfortunately don't have a Private Market Labs Insights episode tomorrow, we can still benefit from the teachings of a recent guest.

A few weeks ago, I talked with #smb legend ^redacted‌ about building #community. Here are her top 5 insights for #searchers:

1) Community in our space is evolving from small, in-person groups at elite universities to a robust online network on places like X/Twitter and and Searchfunder, which connect people globally. It's easier than ever for searchers to connect with peers and access vital resources.

2) Diversity is expanding, though challenges remain: the growth in the number of diverse searchers is a testament to the welcoming nature of our industry. This trend is supported by various affinity groups that are broadening the demographic scope of searchers.

3) Culture is important: maintaining a strong culture involves not tolerating behavior that contradicts its values. She stresses the importance of vigilance to ensure these standards are maintained as the community grows.

4) Experienced searchers rising to prominence: Karen discusses the emergence of “lapsed MBA” searchers – MBA graduates who have worked before entering the search fund space. She believes this group brings valuable experience but may lack the connections of recent graduates.

5) Optimism for the future: Inspired by increasing diversity at recent search conferences, Karen expects continued growth in the search fund model. International search communities are reaching key saturation points and are poised for substantial growth.

Make sure to check out the full episode here: https://youtu.be/0KzJCnhAOWE