Operator Affinity Groups for Searchers Post-Close
October 24, 2024
by a searcher from Emory University - Goizueta Business School in Atlanta, GA, USA
I have now been operating our acquired manufacturing business for a year as CEO and would love to join an affinity group of other former searchers who are also now operators. Can anyone recommend the best way to find this type of affinity group?
from Arizona State University in Scottsdale, AZ, USA
from Northwestern University in Chicago, IL, USA
1. First, I found another searcher who had acquired in a similar space in a different geography and set up monthly phone calls with him. We figured out the industry together while sharing very similar emotions journeys. You really only need one peer for this. The continuity and subject matter knowledge about each others' businesses is so helpful.
2. Second, I had a group of peers through my same investors that I talked to regularly and included on my monthly investor / operations update emails. Seeing what problems were not unique to the industry, but unique to being a first-time CEO helped me a lot. Also, a shared ramp-up on best practices for managing investors/boards was beneficial.
3. Third, I joined Vistage - but there are a lot of other local CEO peer - group options. Getting out of the MBA bubble to real, long-time, experienced operators, who have a lot of local connections was tremendously valuable for me.
I ramped these all up over the first years of operating. Time is so precious - be very protective of it.