Eric Siu advises first-time business buyers to run their first acquisition themselves instead of hiring an operator. You learn more by doing it, though partnering with a close associate or acting as a funding partner are exceptions worth considering.
And then on the finding the good operator piece, where are you going for that? A couple things. One, if you're a first-time business owner or business buyer, I'm biased, I think you should run the business yourself. I don't think that it's reasonable to say, I've never bought a business, I've never run a business, but I'm going to buy a business, put somebody else in there to run it, and I'm going to continue to do my W-2. I just, I think you need a few more reps than that. Now you could do that if you're doing it with your partner or brother or like very close other person that's going to run it with you. Okay, that could work, or you're going to be a funding mechanism for them, that certainly could work, but I have a bias towards getting your hands dirty on the first deal.
