I thought I read a comment on here wherein the searcher turned down a PE firm because he did not want to lose equity control (though he got operational control). I cannot seem to find the post or comment, so maybe I dreamed it. In any event, I have no intent on putting the commenter on blast, but wanted to ask a genuine question - why would you not take a deal that eliminates potential personal exposures but still gives you operational control?

With that in mind, I wanted to post this genuine question to the community. What is your main driver for becoming a Searcher and ultimately buying a business? Do you desire Operational control, equity control (i.e. 51% or more), both, or other? I am genuinely interested.

Since it's my question, I will somewhat answer. As this is my first deal, and I plan on doing many more in my lifetime, especially of increased size, if a PE firm offered to write the full check, give me operational control, and give me some type of equity/carried interest, I would struggle to say no. I get the aspect of entrepreneurship that you have to be comfortable taking risks. However, if someone willing took personal guarantee risk off the table, gave me equity, and provided a possible outlet for more details, to me, I do not see the downside. I am fully confident in my skills and expertise, but to me, that sounds like an enticing deal.

Ps, if you are a PE firm reading this, give me a shout!

^Searchfunder member‌, if you could do your thing and blast this out. I would love to see the responses!