Entrepreneurship Through Acquisition & Nomadic Business Ownership with Bakari Akil
Oct 4, 2023
auto_awesome
Bakari Akil, successful search fund entrepreneur and visiting lecturer at Cornell Johnson Graduate School of Management, shares his inspiring story of growing up poor and discovering Entrepreneurship Through Acquisition. He discusses world travel advice, the best financial advice, learning ETA without business school, and his NYP search deal and investment thesis.
Balancing learning and action is crucial in entrepreneurship.
Remote entrepreneurs should consider internet access and visa restrictions in different countries.
ETA offers a path to personal wealth and control over one's destiny in entrepreneurship.
Deep dives
The value of activity and learning in entrepreneurship
The podcast episode emphasizes the importance of balancing learning and taking action in entrepreneurship. It suggests that there comes a point where one can rely too heavily on learning and seeking confirmation, and should instead focus on taking action and engaging in activities that drive success.
Advice for remote work and entrepreneurship
The podcast explores the opportunities and challenges of remote work and entrepreneurship. It advises new entrepreneurs looking to work remotely to consider factors such as internet access and visa restrictions in different countries. Additionally, for workaholics seeking to break out of the cycle, it recommends building a trusted management team who can handle day-to-day operations while the entrepreneur is away.
Choosing between private equity and entrepreneurship through acquisition
The episode discusses the decision-making process for MBA graduates who are considering a career in private equity or entrepreneurship through acquisition (ETA). It suggests that the choice depends on personal preferences and circumstances. While top-tier business school graduates may have more attractive options in the traditional job market, ETA offers the opportunity to control one's destiny and build personal wealth through acquiring and operating a business.
The Importance of Grit and Tenacity in Entrepreneurship
In this podcast episode, the speaker emphasizes the importance of having grit and tenacity as an entrepreneur. They highlight that success in entrepreneurship does not necessarily require prestigious degrees or credentials, but rather the willingness to take risks, face rejection, and overcome obstacles. The speaker shares personal experiences of raising capital for various ventures, including hosting a scholarship event, and emphasizes the crucial skill of raising capital for entrepreneurs in different spaces. They highlight the need for individuals to believe in themselves, their stories, and find investors who are willing to take a bet on them.
The Potential of ETA for Young Entrepreneurs
The podcast discusses the untapped potential of using ETA (Entrepreneurship Through Acquisition) as an alternative route to entrepreneurship, particularly for young individuals who may not have access to prestigious programs or traditional MBA routes. The speaker notes that ETA has historically been seen as a secret or hidden concept taught only at elite institutions. They emphasize the need to spread awareness about ETA and make it accessible to high schools and colleges, sparking curiosity and introducing the idea of buying a company as a viable option for wealth generation. The speaker also highlights the government support and resources available for small business acquisitions, such as the SBA guarantee, which still remains misunderstood or unknown to many.
Bakari Akil is a visiting lecturer at Cornell Johnson Graduate School of Management teaching students how to buy a business. Bakari is also a successful search fund entrepreneur and independent sponsor.
Bakari recently sourced the acquisition of a burlap bag manufacturer, secured equity financing, closed the deal, then recruited and hired the CEO to operate the business. Bakari shares his inspirational story about growing up extremely poor and discovering Entrepreneurship Through Acquisition to provide generational wealth. We talk about how ETA is a great path for anyone, particularly if you don’t have an MBA or went to business school.
Bakari is currently traveling around the world as a digital nomad managing his numerous ventures remotely. He provides great advice for anyone looking to use entrepreneurship and a distributed support staff to live a dream lifestyle.
This podcast is for anyone looking at Entrepreneurship Through Acquisition as a career choice or for anyone who loves a great entrepreneur story.
Discussion Topics:
(2:10) World travel and advice for remote entrepreneurs.
(9:40) Not financial advice … the best financial advice.
(18:32) Going into ETA or Private Equity.
(26:05) The New York Times & Bakari’s entrepreneurship journey.
(32:29) Learning ETA without going to business school.
(40:22) Advice for searchers.
(50:00) Bakari’s NYP search deal and investment thesis.
(1:00:45) Rapid Fire.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
