Key Points From the Interview
oday's guest started his first search way back in 2009, as a traditional search fund.
He successfully exited that acquisition, and about 10 years after his first search, started another, this time self-funded.
August Felker. It's a name you'll recognize. Via his insurance firm Oberle, August is a longtime supporter of Acquiring Minds.
August has been in and around search for almost 15 years.
In this episode, we hear about his experience doing both a traditional search fund and, more recently, a self-funded search.
It's a topic you've heard before on Acquiring Minds, but rarely from someone who's done both.
And there are some dichotomies between the two models that August crystalizes for us:
Bigger business vs. tiny business.
Mentorship vs.being on your own.
And, having to exit vs. holding forever.
We also get into the business of insurance agencies, which turn out to be really good businesses — if you can get 'em.
My favorite part of the interview is August talking about his evolution as a leader.
Leadership was difficult for him at first, but there was a key shift in behavior that finally unlocked it.
And that arc, from random outsider who bought the business to true leader that your employees look to & respect, is one many of you who buy a business for the first time will experience.
Because, even if you've managed people before, arriving Day 1 as the new owner of a business you just acquired — it is a unique experience that's hard to prepare for.
Here he is, August Felker, owner of Oberle Risk Strategies.