Building on a question by @Pari Natarajan - I wanted to ask how part-time self-funded searchers are allocating their time each day.
I'm assuming many of those who are PT searchers have demanding jobs, so curious to know the following. I'm primarily asking so I can get a baseline to get an idea if I'm tracking well or I need to ramp up.
Note: Right now, I'm focused on brokered search, so my questions are in that context.
- How many deals do you review per day (specifically those that meet your target criteria)?
- How many brokers are you reaching out to/engaging with each day?
- How many deep dives are you doing each week?
In short, my stats within 2-3 weeks are:
- Reviewing on average 2-3 that meet my criteria, following up on average 1 a day with questions
- 2 seller interviews a week
- 3-4 new brokers a day, engaging with 1-2
- Doing 2-3 deep dives a week
If anybody has conducted a PT self-funded search, would love to hear how you managed your time.
Thanks yall!
Part-Time Self-Funded Search - Baseline Activity
by a searcher from Babson College - F.W. Olin Graduate School
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
- searching online (5 hours per week)
- broker outreach (2 hours per week)
- 4 owner meetings a month (averaged 3 hours per week)
- reviewing CIMs/deeper financials/industry (5 hours per week)
- once I got to LOI's, DD and getting the financing together it added another 5-10 hours per week
- I'm looking at###-###-#### new deals per week, then trimming down as many as I can who don't meet criteria. I'm doing 2-3 calls with business owners right now, but that will pick up as I move into the next phase of searching.
- Not engaging with buy-side brokers yet.
- I'm doing 1-2 deep dives into financials per week
For context, I'm only a month into this. I was also doing a bunch of setup work at the beginning, so these numbers are really just from the past couple weeks.