Succession, Focus, and Why Small Business Is Hard with Steve Divitkos of Mineola Search Partners

Steve Divitkos, Founder of Mineola Search Partners, joins us to explore a corner of entrepreneurship most people have never encountered: search funds and entrepreneurship through acquisition. Steve spent two years searching for a company, acquired a 20-year-old software business at 27, grew and professionalized it over seven years, and exited to a strategic acquirer — before becoming an investor in the next generation of search fund entrepreneurs. We discuss the looming succession crisis facing small businesses across North America, why focus beats diversification in building exit value, what culture actually means once you're inside a company, and what it truly costs to build something of your own. KEY TAKEAWAYS 00:00 Introduction. 01:49 What a search fund is and how the model works. 03:19 Why small businesses often fall into a succession gap and what that means for their futures. 07:00 The "silver tsunami": why fewer than 10% of small businesses have formalized succession plans. 08:23 What sellers actually care about beyond the deal. 10:09 Why culture can't be assessed from the outside. 12:35 How narrowing focus and building a leadership team drove the value of Steve's exit. 15:07 The personal side of the entrepreneurial journey and the four pillars of support every entrepreneur needs. 17:32 A clear-eyed case for entrepreneurship and why it's still worth it. Thanks for joining us for the latest episode of "Day in a Canoe." If you enjoyed this episode, please leave a 5-star review, and be sure to subscribe so you never miss any of our insightful conversations.   If you'd like us to help you define what true wealth means to you, go to www.planningalt.com and take our assessment.   Planning Alternatives is an investment advisory firm registered with the Securities and Exchange Commission. Any opinions expressed may not reflect those of Planning Alternatives.   RESOURCES MENTIONED   Planning Alternatives Wealth Assessment:  https://www.planningalt.com/    Mineola Search Partners: https://mineolasearchpartners.com/   #Entrepreneurship #SmallBusiness #SuccessionPlanning