Why Choose Ownership Over Being a CEO - Acquiring Minds Recap

Podcast: Acquiring Minds

Published: 2025-11-10

Duration: 1 hr 27 min

Summary

In this episode, Katherine Butler Dines and Rahul Desai share their journey from traditional CEO roles to becoming owners of a travel business, emphasizing the value of ownership over simply managing a company for others. Their experiences reveal why they chose a self-funded search to acquire Women Travel Abroad, a venture that aligns with their personal and professional aspirations.

What Happened

Katherine Butler Dines reflects on her previous experience as a CEO for a private equity-held business, where she realized that being an operator without ownership was unsatisfying. This revelation prompted her and her husband, Rahul Desai, to pursue a self-funded search for a business they could truly own. They ultimately acquired Women Travel Abroad, a travel company focused on providing guided tours for women, which appealed to them for its small scale and potential for growth.

Rahul adds that their approach to the travel business is innovative, as they aim to leverage back-office technology to improve efficiencies and streamline operations. He humorously points out that 'all tour operators taste like chicken,' suggesting that while the industry may seem homogeneous, there are opportunities for differentiation and improvement. The couple anticipates significant growth in revenue in their second year as owners, showcasing their confidence in the business model they have adopted.

The episode also touches on the broader implications of ownership in the entrepreneurial landscape, contrasting the traditional venture-backed startup model with self-funded acquisitions. Katherine and Rahul's journey demonstrates how ownership can lead to more fulfilling work and the potential for greater financial rewards, as they plan to expand their business further by acquiring additional tour operators.

Key Insights

Key Questions Answered

What led Katherine to prefer ownership over being a CEO?

Katherine Butler Dines describes her experience as a CEO for a private equity-held business, where she discovered that operating a business without ownership was not fulfilling. This realization motivated her to pursue ownership, as she wanted the complete entrepreneurial experience and the associated rewards that come with it.

How did Katherine and Rahul acquire Women Travel Abroad?

After deciding to embark on a self-funded search, Katherine and Rahul focused on acquiring a travel business that resonated with their values and interests. They ultimately chose Women Travel Abroad, which specializes in guided tours for women, as it aligned with their vision for a business that they could grow and develop together.

What is Rahul's perspective on the travel industry?

Rahul humorously notes that 'all tour operators taste like chicken,' implying that while many tour operators may offer similar services, there are still opportunities to stand out in the market. He emphasizes the importance of leveraging technology to improve efficiencies and streamline operations in the travel business.

What are Katherine and Rahul's growth expectations for their business?

The couple is optimistic about the future, expecting their revenue to nearly double in their second year of ownership. Their confidence stems from the efficiencies they have already gained and their plans to expand their business by potentially acquiring additional tour operators.

How do Katherine and Rahul's experiences contrast with traditional venture-backed startups?

Both Katherine and Rahul express disillusionment with the venture-backed startup model, where equity is often diluted and employees receive minimal ownership stakes. Their preference for ownership allows them to retain more control and benefit more directly from the success of their business, contrasting sharply with the challenges of working in a startup environment.