Builders & Doers Don't Buy a Business Until You Learn These Truths - Rafa Caldas & Zach Krumholz | 37
They had the perfect resumes. The elite MBAs from Columbia Business School. The foolproof plan to skip the startup grind and buy an existing, successful company.
They thought it would be easier. They were wrong.
This is the untold story of what happens after you launch a search fund. It’s a journey through brutal ups and downs, deals that can die in a thousand different ways, and the realization that you’re jumping on a train moving 200 miles per hour without being the original operator.
In this episode, former Goldman Sachs investment banker Zach Krumholz and ex-Bain engineer Rafa Caldas get honest about their acquisition journey.
Discover:
🟣 The single biggest misconception that lures people into buying a business
🟣 An ex-Goldman banker's three levers to dramatically increase your company's valuation
🟣 The seller red flag that makes them walk away from a deal instantly
🟣 How to take over an existing team in the first 100 days without destroying company culture
Connect with Rafa and Zach:https://www.linkedin.com/in/rafaell-caldas/
https://www.linkedin.com/in/zach-krumholz-20421959/
https://www.premierworlddiscovery.com/
https://www.afcvacations.com/[
Connect with your PERFECT coach at coachfinder.ai
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Timestamps:
00:00 – Intro
01:22 – The Brutal Reality We Never Expected
02:10 – The #1 Thing Most Buyers Miss
03:12 – The Myth: Why Buying a Business is Harder Than Building One
07:39 – Forging an Unbreakable CEO Partnership
10:54 – Ex-Goldman Banker’s Tip to Instantly Increase Your Company’s Value
13:46 – The Seller Motivation That Makes Us Walk Away Instantly
15:23 – The Corporate Habit Most Startups Hate (But Secretly Need)
16:42 – How to Take Over a Company Without Destroying It
20:03 – The Framework for Making Tough Calls in an Uncertain Economy
21:44 – We Changed Role, Industry & City All at Once (How We Survived)
23:54 – Rapid Fire: Deal Breakers, Bad Advice & Big Predictions
25:31 – This Trend Will Dominate M&A (And How to Prepare NOW)
28:48 – Our Real Legacy Beyond Financial Returns
30:05 – The “Magical Experience” of Running Our Dream Company
32:44 – From Columbia MBA to Co-CEOs: Did We See This Coming?
35:31 – A Warning to MBA Students: Don’t Waste This Opportunity