WHY WE DISQUALIFY "PROJECT-BASED" BUSINESSES

You've heard the term "recurring revenue" used frequently in search fund circles. Companies with highly recurring revenue can make great targets for search funds.

At the other end of the spectrum are businesses that generate non-recurring revenue, often from one-off projects. We call these "project-based" businesses. In this post I offer some guidance on how to think about these businesses:

https://www.smeventures.com/insights/why-project-based-businesses-generally-dont-make-great-search-fund-deals



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