Insights from an Advisor and Investor: Dr Gernot Eisinger
As an evolving pathway that blends strategic vision with hands-on business leadership, Entrepreneurship Through Acquisition (ETA) is growing in popularity. For aspiring entrepreneurs, investors, and advisors alike, understanding the nuances of this field is critical to success. In this episode of the INSEAD ETA podcast, we speak with Dr. Gernot Eisinger, a leading voice in the ETA space and a founder of Afinum, an investment firm shaping succession situations for SMEs for more than 20 years. With a career that spans the chemicals industry, strategy consulting, and private equity, Dr. Eisinger offers a wealth of experience and insights into building businesses through acquisition. Dr. Eisinger delves into the qualities that differentiate successful searchers, emphasizing the importance of active listening, management skills, and a deep understanding of the seller's perspective. He sheds light on identifying ideal acquisition targets, navigating the complexities of the search phase, and attracting investor interest in an increasingly competitive market. This conversation also explores how ETA compares to traditional startup entrepreneurship, the critical role of networking, and the long-term value of strategic exit planning. For those curious about the potential of ETA, Dr. Eisinger presents it as a powerful avenue for entrepreneurial growth, rich with opportunities for those who dare to seize them. 00:00 Introduction to Entrepreneurship Through Acquisition 06:08 The Rise of Search Funds11:57 Understanding the Seller's Perspective17:56 The Evolving Landscape of Search Funds 24:03 Attracting Investors as a Searcher 30:22 Challenges in the ETA Landscape 40:10 Strategizing for Exits