Buyers and Builders
00:50:15 · Mikk
[00:50:15] S0: Knowing you coming on the show, I I I posted the Knicks, like, what would people like to ask? And we covered most of the things, but some people got very specific. And you sort of answered this, but I'm I'm still putting it out. Like, if you were a talented 30 year old operator with 500,000, 500,000 in liquidity today, would you seriously consider self funded search or would you still choose traditional search? I know we covered a lot of it, but maybe there is something you would like to add.
00:50:48 · Greg Geronemus
[00:50:48] S1: Yeah. I've heard variations of this question over the years, and I've always found it a bit amusing. This idea that if you have money stashed away, I think the implication the implication behind the question is, if you have the money, shouldn't you do self funded search? Or at least that's how it's often asked by by people. My thought is that even if you have some money saved up, it doesn't it doesn't mean you should do self funded search. It only means that you can consider self funded search. So if you don't have the money stashed away, self funded search is off the table. If you have some money set aside, then that gives you the luxury of choosing which one is the better path for you. And as I talked about, I think there are serious drawbacks to self funded search. There are certainly drawbacks to traditional search. Ultimately, it's a personal decision. Is... Are you drawn to where's the greatest opportunity for economic upside, for professional development and mentoring and coaching? To me, that's obviously traditional search. It's a greater... It's a better path to making more money and growing more as a professional. If you're motivated by, you know, flexibility and autonomy and you have hard geographic constraints and the ownership split on some sort of personal or psychological level is really important to you, not about money you can make, but it's just important for you to be the... A majority owner in your business, then then go self funded. But it it really comes down to what you're trying to solve for. And I I I struggle with... You know, I... Sometimes I hear people say, it's about it's about dollars and money, and therefore, I'm doing self funded search. And I think that's that's a mistake. That... Because that... That's based on an incomplete picture. It... Again, it's sort of conflating ownership percentage with economic opportunity. The two are are not the same.
00:53:08 · Mikk, Greg Geronemus
[00:53:08] S0: Greg, this has been good fun. Let's say there are some folks watching, listening, thinking, I know... I I really like this guy, Greg. He has he has saw a lot. He knows some people. I would like to have more questions. Maybe they're building something. Maybe they're raising. Maybe they're looking to buy a business. Where they can find you if they would like to ask maybe a few additional questions and introduce themselves? [00:53:35] S1: Yeah. Sure. And thank you for thank you for for suggesting that. Probably the best is to go to our website, footbridgepartners.com, and go to the contact us page, and and there's a a quick form to fill out. I think that would is typically the best way to get through to us. We try to answer those as quickly and as best as we can. It shouldn't take more than two minutes to fill out and hopefully get a pretty prompt response from us. But always happy to talk to people who are contemplating ETA or thinking about traditional search or committed capital vehicles in particular, either of those two models in particular. I will say we're, and I should have mentioned from the outset, we're exclusively focused on The US and Canada in terms of our sourcing and investment strategy. So for people from other parts of the world, happy to try to be a resource or point you in the right direction, but wouldn't necessarily be a fit for Footbridge.
00:53:35 · Greg Geronemus, Mikk
[00:53:35] S1: Yeah. Sure. And thank you for thank you for for suggesting that. Probably the best is to go to our website, footbridgepartners.com, and go to the contact us page, and and there's a a quick form to fill out. I think that would is typically the best way to get through to us. We try to answer those as quickly and as best as we can. It shouldn't take more than two minutes to fill out and hopefully get a pretty prompt response from us. But always happy to talk to people who are contemplating ETA or thinking about traditional search or committed capital vehicles in particular, either of those two models in particular. I will say we're, and I should have mentioned from the outset, we're exclusively focused on The US and Canada in terms of our sourcing and investment strategy. So for people from other parts of the world, happy to try to be a resource or point you in the right direction, but wouldn't necessarily be a fit for Footbridge. [00:54:43] S0: Yeah. And I think it's important for me to mention here that I was the one reaching out to you. We had a pre call. You asked a lot, tons of questions, and it's just important to say that it's I reached out to you to have this conversation and to understand the market because you've seen a lot. So I think it's important to mention. [00:55:01] S1: Well, thank you. I appreciate you doing that, Mikk. And, yeah, glad we could have this chat and looking forward to the next one. [00:55:07] S0: Yeah. Thanks, Greg.