Tag archives for searching - Page 3
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…
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…
Making Offers
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…
Seller Financing
Seller Financing is one of the most significant source of funds that a searcher uses to finance their purchase. It demonstrates the seller's confidence in the future of the business under new leadership, and gives…
Raising Equity Capital
At some point in your search process, you will need to raise capital from investors and, more importantly, propose how to pay it back with a favorable return. Raising funds can create a high level…
Due Diligence
Reaching the due diligence stage in your search is an opportunity for celebration; you have found a willing seller, negotiated acceptable terms, signed an LOI and are “driving to close." Yet, even amidst some…
When your LOI falls apart
Having a transaction fall apart can be devastating in a number of ways to a searcher. Since it takes an average of LOI's, and many months, to get to closing (See blog post Getting to…
Managing Professional Support
It takes a team to acquire a business. The professionals that surround you provide significant support toward achieving your success. Selecting the right mix of professional advisors is important. Unlike the situational specialists who can…
Searching Efficiently
The search process is very time constrained; you will inevitably run out of your own money or, for funded searchers, your investors’ money. Two years might seem like a long time, but it goes by…
Reporting on search progress
As you move along the Search path, you may feel the sense of autonomy and independence that motivated your quest to run your own business. However, you are still accountable for your activities, decisions and…