Top 3 Takeaways from an MBA ETA Event with James Lincoln
Jul 17, 2024
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James Lincoln, a BYU MBA student and organizer of the BYU ETA event, shares his insights on entrepreneurship through acquisition. He discusses the vibrant gathering of over 200 attendees, blending students and seasoned professionals. James highlights innovative funding strategies for aspiring buyers and the growth of self-funded searches in business acquisitions. He also reflects on the unique challenges and triumphs from his entrepreneurial journey, including his development of a digital marketing agency, providing listeners with inspiration and practical advice.
The BYU ETA event highlighted a shift towards funding acquisition searches for MBA students, emphasizing a practical approach to entrepreneurship.
Diverse entrepreneurial models represented at the event illustrate the myriad strategies employed in business acquisitions, inspiring aspiring entrepreneurs.
Deep dives
The Success of the BYU ETA Event
The Entrepreneurship Through Acquisition (ETA) event organized by Brigham Young University marked a significant milestone in the community, attracting over 250 attendees, including a mix of professionals and students. The event showcased the growing interest in business acquisitions, with about half of the participants actively seeking to purchase businesses. Unique to this gathering was the high number of self-funded searchers, setting it apart from other MBA-related conferences that typically attract students aiming to join search funds. The networking opportunities were plentiful, leading to discussions that have resulted in real deals in previous years, underlining the potential for collaboration among entrepreneurs.
Shifts in Funding for Business Acquisitions
There has been a noticeable shift in how universities, including BYU, approach entrepreneurial funding, with an emphasis now placed on supporting searchers instead of just startups. BYU has initiated funding programs that provide MBA students with financial backing to search for businesses, akin to the standard funding for startup initiatives. This funding—around $15,000 for searchers—encourages students to focus on acquiring existing businesses instead of solely launching new ventures, recognizing the higher success rates associated with acquisition entrepreneurship. Such changes may foster a new wave of entrepreneurial efforts, where students can gain practical experience while exploring acquisition opportunities.
Diverse Entrepreneurial Models at the ETA Event
Attendees at the ETA event represented various entrepreneurial models, demonstrating the multifaceted nature of business acquisitions. Examples included individuals involved in rolling up dental practices, as well as franchise owners managing multiple Jersey Mike's locations. These varied experiences highlight the range of strategies entrepreneurs employ in sourcing deals, from traditional roll-ups to franchises, illustrating that buying existing businesses can take many forms. This diversity in approach serves as inspiration for aspiring entrepreneurs, broadening their understanding of what is achievable in the acquisition space.
James Lincoln's Journey and Business Ventures
James Lincoln, a key figure in organizing the BYU ETA event, shares his journey of transitioning from startup initiatives to business acquisitions, emphasizing the importance of practical experience. He started a digital marketing agency during his MBA program to self-fund his search for a business, showcasing how entrepreneurial efforts can complement traditional education. His experiences reveal the potential for MBA programs to adapt their curriculums towards more acquisition-focused paths, giving students hands-on opportunities to learn about business purchase strategies. Lincoln's story exemplifies the evolving landscape of entrepreneurship education, where aspiring business owners can cultivate valuable skills while navigating their own acquisition journeys.