Lesson 46: Guidance

One night my freshman year of college, I walked around campus alone for hours filled with discouragement and shame. I had been cut from the football team. After meeting with Coach James Franklin, he explained how I did not have what it takes to play football at Vanderbilt. While I enjoyed many high points during college, it was the low points that pushed me to seek out guidance. I asked my loved ones for help because I did not know what to do and they told me to go back to Coach Franklin and see if he would change his mind.

So far during my MBA experience, things have not completely gone as planned. My first week back this quarter, Vista Equity Partners declined my application for their internship program. I was hopeful one of the largest Black-owned investment firms in the world would give me the opportunity to intern with them. It was not in the cards. But then again, Entrepreneurship Through Acquisition is my true passion and perhaps a private equity internship would not have been the best place for me to grow.

Gonzalo Adriazola is also passionate about ETA. Last fall, he was recognized as one of the Toigo Foundation’s 35 Rising Leaders. He told me the most valuable part of ETA for him was, “I can pass what I learn onto my son.” This journey through acquiring an outstanding business is more than for financial gain - Gonzalo is interested in having the ability to offer his son guidance so that the next generations can continue to pass along an education above and beyond what we might learn in an MBA program.

If I had children, then I would love to teach them about resilience through my experience of being cut from the football team. Moreover, I would love to share my war stories of owning a business that persevered through low points. According to the 2024 Search Fund Study, 63% of search funds acquired a business, but since acquiring only 37.2% have exited with a positive return. Meanwhile, 50.6% are still operating their business. 

This marathon only begins once you acquire a company. Along the way, I will need the guidance of other operators, investors, and trusted advisors. But as I persevere not only will my leadership ability blossom, I will hold the keys to an education I can unlock for the generations coming after me.

My vision is to leverage my influence as a Black business leader to pursue economic justice. As I learn more about the benefits of ownership and independence, I can pass this knowledge on and offer guidance to those also interested in financial freedom and impact. Coach Franklin did change his mind, and I made it onto the football team at Vanderbilt. This would have never been possible without the encouragement and guidance of others.

This is Lesson 46: Growth. Next week is Lesson 47: Ownership.