Our Self-Funded Search Excel Model (+ 16 Video Walkthrough): Yours for No Cost

This Week in ETA:

Searchers: We made a free self-funded search Excel model guide. It’s comprehensive - 16 videos show each step of the Excel build + coordinating templates show what the model will look like after each step. The included modules are:

1. Intro
2. Building the Leveraged Buyout (LBO) Sheet
3. Profit & Loss - Monthly Model
4. Forgivable Note Calculations
5. Net Working Capital Schedule
6. Depreciation & Amortization Schedule
7. Cashflow Statement - Monthly Model
8. Debt Schedule
9. Equity Schedule
10. Credit Metrics - Monthly Model
11. Balance Sheet - Monthly Model
12. Yearly Consolidation - Income Statement
14. Yearly Consolidation - Credit Metrics
13. Yearly Consolidation - Cashflow Statement
15. Equity Waterfall
16. Cover Page & Conclusion

Similar products on the market can run you up at least a thousand dollars. Click here to get yours for free and let us know what you think!

Partner Perspective:

Caleb Basile, QoE Prep: Sometimes the best deal you ever do is the one you don’t.

Client - “Just wanted to follow up to close the loop. As expected, we formally terminated the LOI and walked away from the deal. In addition to disagreements about the APA terms, an even bigger issue was the continued steady decline of the business. Exactly as you had intuited, this deal was simply too risky, and we had to walk away.”

Most people think success in acquisitions means closing. But in reality, some of the best outcomes never show up as wins on paper. This was one of them.

The business owner and brokers said it was a strong business, but the underlying trends told a different story. Revenue was slipping, profitability was compressing. When the there is a high risk of a business failing and its tied to personally guaranteed loan, walking away isn’t the most exciting outcome, but it could be the right one.

There’s a version of this story where they move forward, convince themselves it will turn around, and spend years trying to dig out of a hole they paid to jump into. Instead, they protected their downside.

Not buying a business can feel like a loss when you’ve already invested time, energy, and momentum. But if the alternative is owning something that can’t support its debt, walking away is a win.

Good QoE providers don't just help you find great businesses. We help you avoid businesses you will regret owning. And that is why sometimes the best deal you ever do is the one you don’t. We would love to help evaluate the financials of your next acquisition - if we can help, please email me at [email protected]

Plus:

• We recently passed on promising deals with strong fundamentals because trust broke down. Inconsistent information and gaps raised concerns. When founders share openly, trust builds; when we uncover issues ourselves, it erodes quickly. As minority investors, trust is everything. Be transparent, don’t spin, and share the negatives - your reputation matters more than any single deal.

• Good insight from Matthias Smith’s takeaways on a session he attended at the Michigan Ross ETA Summit. I particularly like the concept of sharing the personnel evaluation framework you plan to use with the seller when you close. My recommendation for honest, direct communication extends well beyond seeking investors, and into operating your acquisition.

Question:

Hit reply and tell us - If you’ve checked out our self-funded search Excel model guide, what is your feedback?