The most overlooked reward of buying small businesses

In recent years, there’s been a boom in “acquisition entrepreneurship” among MBAs, consultants, bankers, private equity investors, and aspiring entrepreneurs. There are a variety of ways to pursue acquisition entrepreneurship, but the basic idea is that the entrepreneur buys a small to medium sized business (SMB) with the intent to operate the business they acquire. Once the acquisition is complete, the acquirer becomes the owner and chief executive of the business.

I’m one of these entrepreneurs, and I’m writing this because we should be talking more about one of the most deeply rewarding, and unfortunately, most frequently overlooked benefits of the acquisition entrepreneurship model: the opportunity to make an impact on real people, right here and right now.

When I closed on my acquisition last year and the change in ownership was announced, seeing the faces of the new team I’d be leading was overwhelming and powerful. Suddenly, the reality of the responsibility I had signed up for was literally staring me in the face. It was and is a daunting responsibility, yet it has also emerged as a significant motivator and an immensely rewarding experience.

One of the biggest reasons I bought The Print Authority was because of the team. While I didn’t know them personally, I knew it was a tight knit group with tons of experience and industry knowledge. I made a bet on them. It has turned out to be a great bet. This journey has been a leap of faith for me, but it has also been a leap of faith for the group at TPA that have stuck with me through the transition. Being in my current position, where I can positively influence the careers of those who work here, is genuinely humbling and intrinsically rewarding.

The best part about it is that I don’t need to be convinced about why my job (if you can even call it that) “should” feel rewarding and motivating to me. It just is. I feel a deep sense of responsibility to give absolutely everything I have to this business to ensure its long-term, continued success. If I don’t, I am cheating the people around me that are counting on me to deliver. Discovering this level of motivation within me has already been life changing.

Another reward is expanding my perspective of the world. Working at TPA has given me the chance to collaborate with many individuals whom I might not have met otherwise. One of the risks of a post-MBA career trajectory is ending up in a bubble where everyone in your network is surprisingly similar. You can lose touch with reality quickly in these echo chambers. I now spend most of my professional life interacting with people who aren’t a part of my “typical” network, and I absolutely love it. It has broadened my perspective on an accelerated timeline.

Furthermore, the people I get to lead in SMB are generally the types of people who stand to benefit most from my leadership training and skills, provided I lead well. The folks I would have gotten the opportunity to lead in corporate may have marginally benefited from what I have to offer, but they’re going to be just fine professionally without me.

I went to business school and subsequently gained professional experiences to lift myself up. Over the years, however, I’ve realized that the real value of my experiences is the ability they have given me to lift others up. It is my duty and obligation to seek out opportunities to help people grow professionally as soon as possible, at scale, to maximize my usefulness to others. Previously, I envisioned the main advantage of getting my MBA as being able to tap into a network of influential individuals to boost my career. Now I know that it is my responsibility to be that person for others.

It isn’t easy, however – buying small businesses means maximum responsibility and accountability for the acquirer. There is nowhere to hide in this game, and you can’t externalize the consequences of any of your decisions. While maximum responsibility and accountability is scary, it is also exciting and, more importantly, rewarding. It is an experience unlike any other and one that is largely unavailable in traditional careers.

While I recognize this path isn’t for everyone, if what I’m writing resonates with you or if this type of work sounds appealing, I urge you to consider acquisition entrepreneurship. Like any profession, we are always in need of more good people who are willing and able to answer the call.