From the 45th floor to a second-hand warehouse desk

What if the fastest way to build something of your own wasn't to start from scratch?

In the US, the Search Fund model has been a staple of business schools like Harvard and Stanford for decades. In Australia and New Zealand, we are only just beginning to realise the potential of entrepreneurship through acquisition (EtA).

For many, entrepreneurship conjures images of a garage, a whiteboard, and a brand-new idea that may or may not find its feet. But there is a different career path - one that indexes high on character and grit, but skips the high failure rate of the pre-revenue phase.

I spent 15 years in corporate roles within engineering and investment banking. By 2012, the view from the corporate ladder was clear and stable, but it lacked the personal accountability I craved. So, instead of launching a startup, in 2013 I bought a business and traded a 45th-floor corporate office for a second-hand desk in a Sydney warehouse.

The business was a niche mining instrumentation firm, SRO Technology, which at the time had fewer than five staff and a turnover under $2 million. The transition is something many underestimate. There was no assistant, no safety net, and no big brand backing me. I went from running billion-dollar interbank credit limits to fighting tooth and nail for a $15,000 order.

In the climbing world, we call this "Type 2 Fun". It’s not fun while you’re doing it, but it’s awesome when you’re finished. You have to enjoy the climb. If you only want the view from the peak, you won’t survive the mess in the middle.

When assessing acquisitions, I look for essential industrial niches. The criteria that guided SRO's success included:

• Specialised expertise: Direct relationships with blue-chip customers who value technical capability over the lowest price.
• Structural resilience: Industrial or engineering services that are sticky within a broader market.
• The layer beneath: A team (like our senior technicians) that provides continuity beyond the founder and reduces risk.

When the winds change: a lesson in market disruption

Not every deal since has followed this script. 

In 2015, I acquired a wholesale travel business. While it had strong relationships, we underestimated the speed of digital disruption.

The lessons were sharp. 

You don't need a booming market to succeed, but you must respect structural headwinds. If an industry is facing a fundamental shift, improving operations isn't enough. Moving too far outside your core experience adds unnecessary complexity, so stay close to what you know.

The ‘Silver Tsunami’ and the opportunity for ANZ

Australia and New Zealand are currently facing a "silver tsunami," where tens of thousands of enduring small businesses risk closing over the next decade simply because there is no one to take the reins.

Through the EtA Central community, I’m working to help clear the trails for a new generation of owners - those with the character to navigate the daily complexities of business while valuing a legacy as much as a bank account.

For professionals seeking autonomy, accountability, and long-term wealth creation, buying a business offers a credible alternative to both corporate roles and high-risk startups. 

Sometimes the boldest move isn't to build something new. 

It’s to take something good and make it better.

If you enjoyed this content you can find more in-depth discussions on my podcast HERE or resource hub HERE.