Partnership, Purpose, and the ETA Path to Concierge Medicine
Partners in search, Nick Kerr and Shaquille Walker, join Rick and Royce to share their journey from risk-averse upbringings to acquiring HealthBridge, a concierge primary care clinic on Long Island. In this conversation, they discuss how their backgrounds, family considerations, and desire for autonomy led them to entrepreneurship through acquisition, while also reflecting on the emotional highs and lows of searching for, buying, and operating a small business. Furthermore, they describe what it’s like to partner with a founder who remains deeply involved in the practice, why concierge medicine offers an appealing model for both physicians and patients, and how they plan to build a differentiated, prevention-focused platform through thoughtful expansion. Along the way, the conversation explores physician burnout, the value of separating clinical care from business management, and the compelling alignment that strong operational leadership can create for doctors, patients, and investors alike.
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Navigating Entrepreneurship Through Acquisition as a Family
In this special “Friends and Family Night” episode, Rick and Royce speak with Meghan Orzetti about the experience of entrepreneurship through acquisition from the perspective of a searcher’s spouse. Drawing on her personal experiences, Meghan shares candid reflections on supporting her husband, Season One’s Michael Orzetti – a Marine Corps veteran, turned searcher, turned CEO – through the uncertainty, sacrifice, and adventure of acquiring a business while raising a growing family. From deployments and cross-country moves to self-funding a search and closing on a deal, Meghan reflects on the practical realities of uncertainty, mobility, and financial planning, as well as the deeper importance of partnership, mutual support, and shared values. Her story highlights how clarity of purpose, open communication, and a commitment to family can transform the ETA journey into something deeply meaningful.
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38:26
Reshaping One’s Career Through Acquisition Entrepreneurship
Ike Ukawuba was a self-funded searcher whose path to entrepreneurship began far from the boardroom. Raised in a single-parent household in Chicago, he began his career in engineering before discovering his true passion for business and problem-solving. After several years at Accenture, followed by experience at some startup ventures, Ike found his stride in entrepreneurship through acquisition – a model that allowed him to leverage his skills, take ownership, and build something enduring. In this episode, he reflects on his path from consulting to running a home healthcare company, the challenges of leading a large team, and the fulfillment that comes from making a difference in people’s lives. Ike’s journey is one of thoughtful risk-taking, resilience, and purpose-driven leadership, offering valuable insights for anyone interested in acquisition entrepreneurship.
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Pioneering Search in Frontier Markets
In this episode, Rick and Royce sit down with Rob LeBlanc, Co-Founder at Ambit Partners, to explore the evolution of search fund investing beyond traditional markets. Rob traces his path from building an ETA platform in South Africa to backing searchers across frontier economies, offering an insider’s view on how entrepreneurship through acquisition is adapting globally. The conversation examines the unique dynamics of searching and operating in less developed capital markets – where relationships, local fluency, and cultural context often outweigh formal structures – and explores how factors such as currency risk, investor networks, and institutional maturity shape the search process. Through comparative insights between developed and emerging markets, this discussion highlights the expanding boundaries of the search model and the growing diversity of its global practitioners.
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CEO Success in Operating Small Business Acquisitions
Michael Aubrey, having walked the path from searcher to successful operator and investor, draws on his wealth of experiences to offer a masterclass in small business growth. In this episode, he talks candidly about navigating early operational setbacks and hiring challenges, the strategies he employed to build a national salesforce, and why he believes a deep understanding of one’s customers is the foundation for real improvement and scale. You’ll hear reflections on employee compensation models, the critical role of company culture and accountability, and what it really takes to succeed as a CEO in the world of small business acquisitions. Packed with hard-earned lessons on management, grit, and the value of taking a hands-on approach to operations, Michael’s insights into leadership, hiring, and growth strategy are not to be missed.
Are you looking for an alternative to a career path at a big firm? Does founding your own startup seem too risky? There's another compelling path open to you: acquiring a small business and running it as CEO. Co-hosted by Harvard Business School Professors Richard Ruback and Royce Yudkoff, the show is an extension of their courses on small firms, including Entrepreneurship Through Acquisition, which has been taken by thousands of MBA students, and their highly-regarded book, HBR Guide To Buying A Small Business, which has sold more than 65,000 copies. In this series, Rick and Royce guide listeners through the different milestones of the journey to acquiring an enduringly profitable small business, sharing insights on how to evaluate prospects, raise capital, and ultimately determine if this path is right for you.
New Zealand