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Acquiring Minds
Young Couple Starts a Family Business By Buying One
Aug 26, 2024
Meredith, a young entrepreneur now managing a family business, and Michael, who is diving into the employment screening industry, share their unique journey. They detail the complexities of acquiring a company while balancing personal aspirations like starting a family. The duo discusses the challenges of navigating industry regulations, enhancing technology post-acquisition, and the strategic importance of customer relationships. Their insights on transitioning ownership and working as a couple add a personal touch to their entrepreneurial story.
01:20:04
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Quick takeaways
- Meredith and Michael's successful acquisition of Background Connect highlights the importance of coupling personal expertise with strategic business choices for young entrepreneurs.
- The challenges they faced in managing employee relationships demonstrate the complexities of leadership transitions when taking over an established business.
Deep dives
Early Acquisition Journey as a Young Couple
Meredith and Michael Schlinkert embarked on their business ownership journey at ages 25 and 28, respectively. They identified a strong interest in acquiring a business that aligned with their personal and professional backgrounds. Their successful acquisition of Background Connect, a background screening company, was fueled by Michael's legal expertise and Meredith's finance background. Their youthful approach contrasts with other entrepreneurs in the space who have children, exemplifying how couples at different life stages can pursue ownership.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode