In this McKinsey Institute for Economic Mobility interview, Ray and Dana Chery discuss their path to business ownership with McKinsey’s Nick Noel. In 2024, the husband-and-wife team acquired Monsam Portable Sinks from the previous owners, who were retiring and selling the business. The transaction was part of the Great Ownership Transfer, in which millions of small and medium-size businesses face transitions as baby boomers retire. The Cherys share why they chose entrepreneurship through acquisition (ETA, a model in which entrepreneurs acquire, manage, and grow an existing company rather than starting from scratch) and reflect on their search process and what they’ve learned about leadership, risk, and growth as first-time owner–operators. This interview has been edited for length and clarity. Nick Noel: What are your professional backgrounds, and what made you decide to become business owners together? Dana Chery: Ray and I met at Tufts University, where we both studied economics.…