ETA Insider Podcast

This month’s episode features Chris Richling, MBA ’14, owner of a franchise business in Seattle. Chris shares his entrepreneurial journey from search fund pursuits to self-funded acquisition. He discusses the challenges faced, the transition to a management program, and ultimately acquiring a franchise. Chris reflects on lessons learned, emphasizing the importance of relationships, adaptability, and navigating personal dynamics in entrepreneurship. Released April 30, 2024

This month’s episode features a live recording from the Harper Center with Aizik Zimerman, MBA ’23, CEO of J Blanton Plumbing, a business he acquired during his second year at Booth. Unlike many ETA students focused on quick exits, Zimerman is dedicated to long-term growth, aiming to build the business into the nation's largest home services company. Influenced by his family's immigrant background and entrepreneurial success, Zimerman brings a wealth of experience from investment banking, private equity, and management roles in tech companies like Uber Eats. His journey exemplifies resilience and a commitment to creating lasting impact through entrepreneurship.

This month’s episode features a discussion with AJ Wasserstein, Professor, Yale School of Management, on the rapidly changing world of search funds. They explore the normalization of search funds, demographic trends, and the evolution of search fund models. Delving into the investor landscape, they discuss the shift from individual to institutional investors and its impact on entrepreneur-investor relationships. Despite the influx of capital driving market growth, concerns about declining quality and increased competition linger. Tune in for expert insights into the opportunities and challenges of navigating the search fund frontier. This conversation was based on "Exploring the Future of Entrepreneurship through Acquisition" which can be found at bit.ly/ExploringETA

This month’s episode features Peter Jackson, the owner and CEO of Miller Industrial, as he shares his remarkable journey from the world of Wall Street to becoming a key player in Main Street entrepreneurship. The discussion delves into Peter’s diverse career experiences, from corporate finance to his pivotal role at Groupon, leading up to the acquisition of Miller Industrial in 2018. Explore the challenges, triumphs, and lessons learned as Peter navigated the complexities of self-funding, searching for a business, and the ongoing responsibilities of industrial entrepreneurship.

This month’s episode of the ETA Insider Podcast features Marc Shiffman, MBA ’94, Former President & CEO of SMS Assist. In this episode, we explore the dynamic career journey of a finance professional who transitioned into the realm of innovation and leadership. Beginning in New York with McAndrews & Forbes owned and operated businesses, Marc played pivotal roles in iconic companies like Revlon, Coleman, and Sunbeam. The narrative takes a turn with a move to Chicago and a decade plus-long stint at SMS Assist, where Marc rose to the role of CEO. Delve into his experiences navigating challenges, embracing innovation, and building SMS Assist into a billion-dollar enterprise. The episode touches on the importance of technology, strategic decision-making during the pandemic, and the eventual merger with another company. Join us for a captivating discussion on leadership, entrepreneurial spirit, and the strategic choices that shape a successful career in the business world. Released January 3, 2024.

This month’s episode of the ETA Insider Podcast features Manvendra Saxena, Founder and Chairman at Mars Energy Group. Manny discusses navigating the challenges of moving across continents to his experiences in corporate America and the startup world. Through this discussion, you learn the pivotal decision-making moments that led him to embrace ETA and why the sponsored model became a risk-mitigated path for his ambitions. Manny discusses the importance of confidence, emotional intelligence, and building a support network in the unpredictable world of business. Released November 30, 2023

This month’s episode of the ETA Insider Podcast features Lisa Forrest, Director of Live Oak Bank. At the time of the taping last March, the LMM SBA market was in the throws of adjusting to the interest rate shocks. Deal flow at that time was in a state of disarray as buyers, sellers, and lenders were all trying to figure out acquisition structures in this rate environment. Almost 7 months later, the market is starting to adjust and many lenders like Live Oak Bank will end up with solid 2023 production and heading into 2024 with a good pipeline of transactions. Ms. Forrest also refers to some potential SBA SOP changes that, as of this drop, are still in flux. It would be an understatement to say that the LMM for self-funded searchers has seen disruption in 2023. But with disruption also comes opportunity. Released October 31, 2023

This month’s episode of the ETA Insider Podcast features Tim Lahey, CEO of r:Home, a technology concierge company, who shares his journey into entrepreneurship through acquisition (ETA) from a finance career. He stresses the significance of personal risk assessment in ETA and discusses his acquisition process, including location and size criteria. Tim highlights the challenges of scaling a service-oriented business and the importance of company culture. He advocates for patience in business growth and emphasizes the value of industry knowledge. Tim reflects on the personal growth and learning experiences that come with ETA, encouraging aspiring entrepreneurs to embrace the journey and its rewards.

This month’s episode of the ETA Insider Podcast features Clement Lucas, Principal of Relay Investment, a diverse firm based out of Boston that focuses on ETA investments. Clement’s unique perspective as a former operator is a value add to his team and the searchers Relay works with. Clement shares with Brian how diversity is beneficial within your resume in addition to the team you build. He also shares advice and mistakes that both searchers and operators can make and insights into the future of ETA.

This month’s episode of the ETA Insider Podcast features Jan Simon, the Managing Partner of Vonzeo Capital, a Professor of the Practice of Management in Entrepreneurship at IESE, and the Academic Director of its International Search Fund Center. Jan’s expertise and research focuses on investment strategies, mergers and acquisitions, and entrepreneurial acquisitions. Prior to working in the investment world, Jan spent four years in the Special Forces. In his conversation with Brian, Jan discusses how to think about market inefficiencies, performance persistence, stage-appropriate capital, and risk-adjusted returns in ETA.