Before Launch Series: Part 3
Operations: Ironing out the kinks in a low-risk environment
In part 1 of the Before Launch Series, I shared some of the administrative tasks associated with starting up your search fund, from selecting your tech stack to networking with 3rd party providers and others in the search community. In part 2, we discussed the basics of search fund branding, from creating your brand identity to developing a website and marketing materials with consistent messaging. Today, I will walk through actionable steps to build out your operations for the search process in a low-risk environment, regardless of your strategy or fund structure. Those steps include the following:
Industry first, company second
Developing repeatable sourcing processes
Data infrastructure
Testing email campaigns
Qualifying owners
If you have not already, I encourage you to check out the previous posts in the Before Launch Series to get fully up to speed. More information can be found below:
Overview – Four-part newsletter series to help you prepare for the first day of your search
Part 2 – Branding: Making your search fund brand come to life
Prior to your first owner call, site visit, LOI, and acquisition, you need to develop a system that will help you achieve each of those milestones. Putting some structure into place that’s personalized to your own working style will not only give you a jump start on your search once you call capital, but also provide you with a foundation to fall back on when trying to recover from a broken deal or a drop in spirits or motivation later on in the process. The core operations of your search engine will change quite a bit as you get into a rhythm later on, and that’s okay. Many will occur as you learn on the spot but without processes in place, you’ll spend less time with owners and more on organizing your multiple workflows.
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