Searcher Identity
Conveying "who you are" during your search is both a lot easier and more challenging with the advent of the Internet. There are now a myriad of ways to put yourself "out there" to attract…
Preparing your search brochure
Creating a "leave behind" document for a prospective seller is a very personal and unique opportunity to get your message across to a business owner. A single page presentation is also useful for the intermediary…
Searching with Interns
Your search process has to be as efficient and effective as possible to achieve the result of owning a business in two years or less. Interns can be used to scale up many of your…
Seller Profile
Finding and buying the right company is the prime objective of your search, yet it is often the seller who is essential to your success. Working with an unsuitable seller can drain your most precious…
Company Profile
Searchers often make the mistake of searching for a “great” business. The search model would classify a great business as one with 3 years of expanding profits, recurring revenues, a simple…
Establishing seller trust
The relationship you build with the seller, between the initial contact and your running of that business, is much more important than the "transaction" that you conclude with them. Like any relationship, it is based…
Proprietary Prospecting
Your proprietary search for prospective sellers should be viewed as a carefully scripted marketing campaign. Your "pitch" should quickly capture the attention of business owners and trigger a conversation about turning their legacy over to…
Brokers & Intermediaries
Brokers, M&A advisors and other intermediaries may stand between you and your ideal seller. Developing the skills to manage this source of prospects is critical to the success of your search. Since about 40% of…
Making offers (IOIs and LOIs)
Making offers quickly and often in your search is critical to buying a business. As in sports, taking frequent "shots on goal" is always better than waiting for the "perfect" opening. After all, the offer…
Working Capital
In many ways, search is all about the details. A detail that cannot be overlooked is the treatment of working capital in the transaction. If saved until the final drafts of the P&S agreement, the…