Some maybe obvious low hanging fruit adapted from candid advice I gave a searcher:


1. Incorporating a Legal Entity for Your Search - If you don't form a corporation or other legal entity for your search, you're sending a strong message to brokers, bankers, and advisors that you're not serious.

On one hand, you're embarking on a long-term mission to invest millions of others' capital to buy a business but on the other hand, you want to avoid the small expense of forming an entity. Do you see the incongruency?


2. Get a Website - tied to point 1, a simple, refined website is necessary to convey commitment. It does not have to be expensive or fancy. Just something that conveys who you are and what you're looking for.


3. Know What You're Looking For - You'll likely cast a wide net early on in your search: "any industry, anywhere, any level of EBITDA". Over time, you should narrow your parameters and keep people in your network updated on your revised criteria. This helps us keep you in mind for any opportunities that fit your criteria.

Here's my process when I get sent an opportunity:

a. What are the high level characteristics of this opportunity (industry, geography, EBITDA)? b. Who in my network would be interested in this? c. Send the opportunity to people I think would be interested

If your criteria is "anyone, anywhere, anytime", it's hard for people with deal flow to keep you in mind. Time is precious and we don't want to waste anyone's time sending out irrelevant opportunities.

It might seem obvious but you'd be shocked how often searchers leave this beautiful fruit to wither on the branch.