Acquiring Minds Young Couple Starts a Family Business By Buying One
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Aug 26, 2024 Meredith and Michael Schlinkert, co-owners of Background Connect, share their unique journey from attorneys to entrepreneurs. They discuss acquiring an employment screening company and managing the seller's transition. The couple highlights strict industry regulations as a barrier to entry, their focus on upgrading technology, and the personal impact of running a family business. With insights on navigating business dynamics while starting a family, they emphasize the importance of communication and support in both their professional and personal lives.
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Young Couple's Acquisition
- Meredith and Michael Schlinkert bought Background Connect when Meredith was 25 and Michael was 28.
- Michael's legal background and Meredith's family's entrepreneurial experience gave them confidence.
Define Search Parameters
- Focus your search based on your comfort level and resources.
- Consider geographic limitations, funding, and industry preferences.
Couple's Search Dynamics
- Buying a business as a young couple requires open communication and shared vision.
- Aligning on business type and considering future family plans is crucial.
