Pike's Weekly Bulletin Ep.18
Why More MBAs Are Buying ‘Boring’ Businesses and Why Growing Consulting Firms Should Pay Attention
For years, the career path for ambitious MBAs was clear: join a big consulting firm, land an investment banking role, or get into a fast-growing tech startup.
But there’s a third path gaining traction. It’s called a search fund, and it’s becoming the deliberate choice for many grads from top schools like Stanford, Wharton, and Columbia.
What’s a Search Fund?
A search fund lets someone raise money from investors to buy an existing small business. These companies are usually profitable and stable but haven’t reached their full potential.
Instead of waiting years to lead something inside a large organisation, these operators step directly into the CEO role. They’re taking over companies that work, then improving operations, modernising tools, and scaling them up.
Think HVAC businesses, logistics providers, or niche B2B services. Not headline-grabbing startups but proven businesses with room to grow.
Why Growing Consulting Firms Should Take Notice
This shift opens a major opportunity for consultancies that are mid-sized or scaling. These first-time CEOs are typically:
- Backed by experienced investors
- Focused on real outcomes, not abstract strategy
- Operating on tight timelines and lean teams
- In need of practical, trustworthy advisors
And because they’ve just acquired a business, they’re often stepping into environments that are outdated, under-resourced, or in need of clear strategic direction.
They’re not looking for theory. They want people who can get things done.
What You Can Do
If you’re a growing consulting firm that works closely with clients and delivers tangible results, you’re well-positioned. Here’s how you can lean in:
Offer acquisition-stage support - Build services that help with diligence, operational assessments, and transition planning.
Provide hands-on execution - Whether it’s setting up a sales engine, redesigning workflows, or choosing tech tools, these clients value consultants who can stay involved beyond the planning phase.
Simplify your messaging - Skip the buzzwords. Speak directly to the challenges of running and scaling a business.
Target the right sectors - Many search fund acquisitions are in traditional industries. Build sector credibility where these buyers are looking.
Make yourself visible - Publish case studies, share insights on LinkedIn, and build a network where these operators and their investors are active.
The Bottom Line
The rise of search funds is changing who your next consulting client might be.
Instead of enterprise executives or startup founders, it could be a first-time CEO in their early 30s who just bought a profitable business and is looking for an execution-focused partner to help scale it. If your firm is nimble, practical, and built for impact, this is a client segment where you can grow alongside them.
This is not a trend to watch from the sidelines. It’s one to step into.
Looking to improve your consulting firm with smarter delivery and built-in automation?
Pike helps smaller teams work smarter with built-in automation and streamlined project delivery. Deliver faster, stay client-focused, and scale without the overhead.
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