Building an Industry Thesis for Entrepreneurship Through Acquisition (ETA)

Entrepreneurship Through Acquisition (ETA)—where aspiring entrepreneurs search for, acquire, and scale established small-to-medium-sized businesses rather than launching start-ups—can benefit from a clear, robust industry thesis when entrepreneurs are searching for companies to purchase. This technical note outlines the steps to build an industry thesis that helps searchers narrow their focus to high-potential opportunities and makes their search process more efficient.