Key Points From the Interview
ou've heard of the self-funded model of buying a business, which is what the majority of guests on Acquiring Minds do.
You've also heard of the traditional search fund.
And then you've probably heard it debated about which style is better: self-funded vs. traditional.
Well today's guest, Derek Turner, has done both.
He acquired a business as a traditional search fund in 2018.
For the next chapter in his career, he bought a business self-funded at the beginning of this year, 2023.
So in this interview you'll get real color about what the 2 styles of buying a business are like from the inside, directly from an entrepreneur who experienced both.
You're going to hear 2 good stories in the process, and topics like:
- Why doing a geographically-constrained search is great
- Why you should be skeptical of growing a small business quickly
- Hiring a GM or operator (and being realistic about doing so)
- The peril of bad sellers and how to diligence that risk (if it's even possible)
- and, the value of having a good relationship with investors
This interview was a treat, really a packed episode.
Please enjoy it. Here is Derek Turner, owner of Roll-A-Shield.