What are the biggest lessons you've learned from acquiring a business?

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by a searcher from University of Texas
in Austin, TX, USA

1yr ago

What are the biggest lessons you've learned from acquiring a business?

I'm somehow new to the world of business acquisitions and search funds, and I'm eager to learn from those with experience. If you've successfully acquired a business (or explored the process), what were some of the key lessons, mistakes, or insights you wish you knew earlier?

Additionally, I'd love to hear any advice on structuring SBA loans, negotiating with sellers, and sourcing great deals.

Looking forward to learning from you all!

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reply by a searcher 1yr ago
from The University of Chicago in California, USA

On point 1 - Kudos to you for getting through. I'm always surprised when I talk to younger searchers with baby on the way, etc. My kids are now older (11/13) but I was grateful for a chill corp job when they were young, and couldn't have hacked this lifestyle. Everyone's situation is their own, but it merits way more awareness.

reply by a searcher 1yr ago
from University of Missouri in Kansas City, MO, USA

We all attempt to identify/anticipate every possible scenario when planning a deal. But I have learned through more than one deal that the attempt to anticipate all scenarios is just a great planning exercise; you will always be surprised by something. Plan for surprises by allowing for more time, more capital and more patience than you expected.