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Finding a Business While Working

Learn how to find a business alongside your existing employment. This article explains how to conduct a business search parallel to your main profession.

Search funds offer an attractive opportunity to search for a suitable company to acquire alongside your existing employment. In this article, you will learn how to conduct a company search in parallel with your main job, the challenges to overcome, and the key success factors involved.

The Challenge: Entrepreneurial Ambitions Despite a Full-Time Job

Many executives and specialists dream of running their own business but hesitate to give up their secure position before finding a suitable acquisition target. The self-funded search fund, or "part-time search," offers a pragmatic middle ground, where the search for an acquisition candidate takes place alongside ongoing employment.

Advantages of Searching for a Company Part-Time

Searching for a suitable company while maintaining your current job offers several advantages:

  • Financial safety net through ongoing income
  • Reduced time pressure during the search and negotiation phases
  • Opportunity for a more targeted selection of a truly fitting company
  • Building relevant industry knowledge during the search phase
  • Stronger negotiating position with potential sellers

Practical Implementation: How to Succeed in Part-Time Searching

Time Management as a Key Factor

Structured time allocation is crucial for the success of a part-time company search:

  • Reserving fixed time blocks for the search (weekends, evenings)
  • Prioritizing search activities based on potential success
  • Using vacation time for intensive research and site visits
  • Delegating certain research tasks to service providers

Developing Efficient Search Strategies

To search effectively despite limited time resources, the following approaches are recommended:

  • Clear definition of search criteria and focus on promising industries and company sizes
  • Building a network of multipliers (tax advisors, auditors, consultants)
  • Utilizing digital platforms and service providers like viaductus, which scan the entire public market with their meta-search
  • Automated alert systems for new listings

Recognizing the Right Time to Transition

A central question in part-time searching is when the right moment has come to move into full-time searching or directly into company management:

  • Advanced due diligence phase with a promising candidate
  • Concrete financing commitments from investors
  • Clear agreement on key acquisition terms with the seller
  • Sufficient financial reserves for the transition phase

Specifics of the Self-Funded Search Fund

The self-funded search fund differs from the classic search fund in several respects:

  • Financing the search phase independently instead of relying on investor capital
  • Greater autonomy in decision-making and fewer reporting obligations
  • More flexible timeframe for the search
  • Ability to be more selective in company choice

For details on the different search fund models, we recommend our article on Various Search Fund Models.

1. Strategic Focus

A clear delimitation of search criteria is essential to use limited time efficiently:

  • Industry focus based on personal expertise and market opportunities
  • Geographic limitation (commuting radius or willingness to relocate)
  • Financial parameters (company value, required equity)
  • Requirements regarding company size and structure

Learn more about company selection in our article on Target Company Selection.

2. Efficient Use of Digital Tools

Modern tools and platforms can significantly accelerate the search:

  • CRM systems to manage contacts and acquisition candidates
  • Databases and meta-search engines like viaductus
  • Automated due diligence tools for initial evaluation
  • Virtual data rooms for secure exchange of confidential information

3. Network Building

A strategic network can provide access to companies not publicly listed:

  • Participation in industry events and entrepreneur circles
  • Active presence in relevant online forums and social media
  • Building contacts with multipliers (banks, economic development agencies, chambers)
  • Direct approach to potential sellers in the target industry

4. Personal Preparation

The search period should also be used for personal preparation for company management:

  • Continuing education in relevant management topics
  • Building a support network (mentors, advisors)
  • Creating a personal development plan for the transition to entrepreneur
  • Financial planning for the transition phase

Helpful resources include our articles on Success Chances of Search Funds and Entrepreneurship through Acquisition in Germany.

Challenges and Solutions

Time Management and Energy Balance

The biggest challenge is usually balancing the main job, company search, and private life:

  • Realistic time planning with sufficient recovery periods
  • Focus on high-quality rather than quantity of search activities
  • Intensifying the search in phases (e.g., during vacation)
  • Possibly reducing working hours in the main job (part-time models)

Maintaining Confidentiality

Conducting the search alongside a full-time job requires special discretion:

  • Clear separation between professional and search activities
  • Caution in communication on social media
  • Trustworthy partners for initial contact with potential sellers
  • Use of anonymized contact options in early phases

Due Diligence Alongside Employment

In-depth company evaluation requires significant time resources:

  • Focused due diligence on key risk factors
  • Involvement of experts for specific areas (legal, tax, technical)
  • Early coordination of the review process with the seller
  • Possible temporary leave from the main job for intensive due diligence phase

More on due diligence can be found in our article Due Diligence in the Search Fund Process.

Financing the Acquisition

Financing a company acquisition is a complex topic, especially when still employed:

  • Building equity through savings from the main job
  • Accessing grants and special succession programs
  • Building contacts with investors for the later acquisition phase
  • Flexible purchase price models such as earn-out agreements

Detailed information on financing is available in our articles on Capital Raising and Investors for Search Funds and Financing Structure in Search Funds.

Transition into Company Management

Once a suitable company is found, the transition from employee to entrepreneur begins:

  • Careful planning of exit from the existing employment
  • Structured onboarding phase with the previous owner
  • Gradual assumption of responsibilities and decision-making authority
  • Building a personal support network for the first years

Conclusion

Searching for a suitable acquisition candidate alongside your existing employment is challenging but entirely feasible. With a clear strategy, efficient time management, and the use of modern search tools like viaductus, the path to owning your own company can be successfully pursued alongside your main job.

The self-funded search fund offers a flexible model that provides both financial security and entrepreneurial freedom. What matters is a structured approach and the willingness to invest significant time and energy in the search during certain phases.

For aspiring entrepreneurs who do not want to take the risk of fully leaving their job during the search phase, part-time searching is an attractive alternative to gradually realize the dream of owning a business.

If you want to learn more about the various aspects of search funds, we recommend reading our other articles on the topic or scheduling a free initial consultation with our experts.

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