The Search Fund Podcast Auronix: Martin Urrutia
Nov 5, 2021
Martin Urrutia, the entrepreneur behind Auronix, shares his remarkable journey from a family business to a search fund in Mexico. He emphasizes the immense learning that comes from taking risks and embracing challenges. Martin discusses the growing trend of customer communication shifting to messaging platforms, and how this represents an evolving market dynamic. He reflects on the unique challenges of navigating a search fund, particularly during negotiation and post-acquisition phases, highlighting the invaluable support from the search fund community.
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Misjudged Acquisition Size
- Martin and Adrian received inaccurate financial information from a potential acquisition target.
- The target's actual EBITDA was double the initial estimate, making it much larger than expected.
Learning Through Leaps
- Don't wait to have all the answers before starting a business.
- Take the leap, learn by doing, and embrace failures as learning opportunities.
Validating Startup Ideas
- Working at a similar startup during his MBA summer helped Martin realize his initial idea was flawed.
- This experience highlighted the importance of testing assumptions before fully committing to a venture.