Search funders experience with remote or limited on-site presence?

by a searcher from IESE Business School

2 months ago

Hello,

Thinking of raising a search fund, only limitation so far is ability to move where the company is (family and personal reasons). Expanding the range beyond a 1hr commute would significantly increase my funnel. I'm already used to travelling frequently within Europe.

Does anyone have experience with managing the company after acquisition with limited on-site presence (e.g. 2-3 day per week or even 5 day/2 weeks) or remotely? If you have I'm curious to know...

How did you manage the first 100 days?
Are investors open to this? Or do they perceive it as lack of commitment? Did you face extra challenges in raising the search capital?

More than happy to have a 1-on-1 if someone is open to share more advice.

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6 comments

searcher from Henley Business School

Having acquired a business that is roughly an hour commute each way, I travel in 5 days a week. In that first year, I believe the time spent among the employees is the time to learn as much about the business and uncover opportunities to grow. If you are not there, you are going to miss lots of low hanging fruit. That said, I am now transitioning down to three days a week and the culture I have built now enables this to happen smoothly. Just food for thought.

2 months ago | like reply | 0 likes

searcher from Western Governors University

There are alot of variables with this as all things SMB. Things to consider is like already mentioned, is the current owner vital to day to day operations, once settled could you handle managing remotely, maybe doing a month there and a month at home if there's already day to day management in place. Also your investors may have input or want to be more involved and be able to come in and help through the transition.

2 months ago | like reply | 0 likes

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