The Search Fund Podcast The Manager's Handbook: David Dodson
7 snips
Jul 11, 2023 
David Dodson, a two-time search fund entrepreneur, longtime investor, and Stanford GSB professor, shares insights from his life and his book, The Manager's Handbook. He discusses his early life in rural Colorado and the ambition that drove him to McKinsey and beyond. Dodson recounts acquiring and scaling companies like Smith Alarm Systems and Auto Palace, along with lessons learned from his Senate run. He emphasizes the importance of leadership skills, effective team building, and the discipline required for success in competitive environments.
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Humble Rural Roots Shaped Ambition
- David Dodson described growing up in rural Colorado, working slaughterhouses and selling imported Indian jewelry as a teen.
- Those early entrepreneurial hustles and family business failures shaped his drive and risk tolerance.
Wrote First Search Fund Case And Launched One
- Dodson wrote the first case on the first search fund at Stanford and then raised his own search fund.
- He secured Irv Grosbeck and Jim Southern as early investors despite feeling insecure about belonging in that cohort.
Bought And Ran A Recurring‑Revenue Business
- He bought Smith Alarm Systems, a recurring-revenue alarm business, and ran it for four years with strong investor support.
- Frequent weekly calls with an investor helped him learn quickly and manage early terror in the role.
