Looking to connect with mid-career, partner searchers for insights.

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by a searcher from Brigham Young University
in Salt Lake City, UT, USA

5yrs ago

Looking to connect with mid-career, partner searchers for insights.

I am exploring a traditional search with a partner (brother) mid-career. Interested in connecting with and hearing experiences of current and past searchers in similar situations.

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reply by a searcher 5yrs ago
from Brigham Young University in Salt Lake City, UT, USA

Thanks Luke - yes, I also found Jim's blog post recently and appreciated his insights. It was actually the number of personal quotes/examples he referenced that got me thinking about looking more first into better understanding the searcher community before jumping straight into seeking a specific opportunity.

reply by a searcher 5yrs ago
from University of Virginia in Washington Metropolitan Area, USA

Lots of advice here specific to your search, so I'll offer a few general things to consider, discuss, and/or document before heading into a partnership. Some may be predetermined for you if you are doing a traditional search. Feel free to message me directly at redacted I'm a mid-career executive, turned self-funded solo searcher. I also have previous small business experience with partnerships and with family. Most of this will seem fundamental, but so often they aren't addressed early and conflicts arise that could have been avoided or mitigated. Partnerships with family come with a tremendous amount of benefits - but there's a lot more at stake if there is conflict. Good luck on your search!

What would you like to gain from your partner that can't be achieved alone or through hiring, mentors, consultants or your board?

Beyond skills, are you synergistic in personality, risk tolerance and ethical decision making?

Do you have similar drive/energy?

Is the value that you each bring to the business relative to the equity split? (shouldn't always be 50/50, though this is often the initial instinct)

How will you handle conflicts that arise from an imbalance?

Do you share the same fundamental strategy for growth/dividends/reinvestment? (again, some of this will be predetermined with a traditional search)

Have you both discussed and documented your combined and individual exit strategies, including how a pivot would be handled?

Have you both discussed and documented how you will handle divorce/death/dissolution of partnership?