By Don McClain | Founder & Principal, Medro Advisors
The June 19 archive article introduces entrepreneurship through acquisition. Extend it with a search-cost budget: separate recurring search expenses from diligence costs for a specific target and cash reserved for the eventual purchase. Assign a budget owner, an expense limit and a monthly review date. Record costs still owed when a target is rejected. Keep expected financing separate from cash available to run the search. A purchase budget does not explain how months of screening will be funded. Discuss search preparation with Alianza Partners. Diligence and financing review remain necessary. FUNDED is forthcoming.
