Introduction
In this insightful conversation, we explore business acquisition strategy with Mike Curry, who successfully acquired and grew a medical physics business. Mike shares his journey from investment banking to entrepreneurship through acquisition, detailing the challenges, strategies, and lessons learned along the way. His story demonstrates how acquiring an existing business can be a viable path to entrepreneurship for those who may not have a groundbreaking startup idea but possess the drive and leadership skills to grow an established company.
Founder Success Story QnA
Can you share your background and what led you to pursue business acquisition?
I am originally from Atlanta, Georgia. I went to Emory University where I was an undergraduate business major. Directly out of college, I took my first job in investment banking in the UK. I worked abroad for three years and had a family event – my father took ill and passed away from lung cancer, which was a big shift in my life and career plan. I moved back to Atlanta and remembered my graduation day when the dean of the undergraduate business program, who also taught entrepreneurship, gave me a big hug and whispered in my ear, “Good luck with the banking job, but call me when you’re ready to be an entrepreneur.” When I moved back to Atlanta, I thought, “If not now, when?” My first entrepreneurial venture was starting a men’s custom clothing business called Phoenix Bespoke with a college classmate. We ran the business from 2007 to 2008-2009, but like many small businesses, we felt the crunch of the financial crisis and had to close down. Through that process, I learned about acquiring a small business through conversations with one of our key customers. That’s when the seed was planted about buying a business instead of starting one from scratch.
Was the University of Chicago Booth School associated with search funds during your time there?
Not nearly as much as you would find today. I kind of feel like I was in the prehistoric ages of entrepreneurship through acquisition at Booth. There was definitely a lineage of people who had done it over the years, but it was a small community. Over the years spanning from the mid-90s through 2012-2013, there