Lessons from multiple start-ups and Search Investments

Steve Ressler is an entrepreneur and an experienced investor and advisor in the Search Fund space. He's originally from Ohio and presently based in Washinton DC. 

Steve was attracted to the Search Fund model because it had similarities to private equity, where you buy great businesses or invest in one at a fair price, but also having the responsibility of an entrepreneur, where you reform and manage a business to reach new heights. 

Steve is now backing over 30 searchers and has followed on into over 30 individual acquisitions in the small business space in America.

In this episode, I had an interesting conversation with Steve. Having heard of Steve's experience and background, I used this opportunity to ask him a lot about the investor's perspective; what do investors look for in a good Searcher? What do Searchers typically learn during their Search Phase and into their operation phase? 

I gleaned some insights from his experience that can help anyone that is thinking about coming to Search and the ways in which they can test whether or not it might be a good fit for them. 

Show Notes: 

• 02:46 – Steve talks about his history from being a government employee to being involved in startups, and how he got into the Search space. 
• 05:41 – Steve talks about his experience in dealing with other co-investors in the Search space, and having invested in different kind of businesses such as first-generation businesses and talks about the difference between private equity and the Search Fund model.  
• 11:48 – Steve shares his thought about typical things that he is looking for a Searcher in which he could determine whether or not that person is going to have a successful time being a Searcher 
• 15:52 – Steve talks about what Searchers learn during the Search Phase and operation phase, and what are his insights and experience from these phases in the search fund procedures.
• 29:37 – Steve talks about the skill set that a Searcher must-have, and he shares his tips for new emerging markets that would make sure they are on the right path for growth. 

Connect with Pete: LinkedIn

 Connect with Steve: LinkedIn