The leaves are beginning to change and the air is feeling crisp. At Calder, we are stocking the fridge with hard apple cider and as much pumpkin spice coffee as possible.
Our Buy-Side team is hard at work fulfilling our current buy-side clients’ mandates. September set a new record for lead generation!
How do we do this? It’s 90% elbow grease combined with 10% data science. We combine a personal touch, marketing automation, and data analytics to hone best practices with the tedious work that no one wants to do – lots of research, cold calls, and email outreach.
Select Seller Leads Developed in September:
Establishing Credibility as a Buyer
Owners frequently receive inquiries from potential buyers that lead nowhere. In fact, 9 out of 10 buyers that investigate a business acquisition will never even close a deal! While this is a reality, over time potential sellers grow weary and skeptical of inquiries and become concerned about devoting time to buyer introductions as they fear it will just be a waste of time. This makes it even harder for a serious buyer to engage an owner about selling.
How do you establish the credibility needed to have a serious conversation with a potential seller?
The First Impression
The first impression is an opportunity to differentiate a buyer from the dozens of other inquiries the owner receives. Generally this opportunity comes before an introductory call. But even before the initial call credibility can begin to be established. Calder recommends that before an introductory call, a buyer send a mutual NDA so that the conversation may flow freely, and a one-page personal profile, a resume or LinkedIn profile. Materials that provide relevant background information and an understanding of the goals of the buyer will resonate with the seller.
Sending this profile ensures that when the call starts the potential seller understands who is on the other line and why they are interested. When a buyer pairs this approach with prewritten, intelligent questions it leaves the potential seller without a doubt that there is genuine interest in his or her business. The buyer also creates the ideal first impression of being organized, prepared, and motivated.
Keeping the Momentum
After a positive introductory call, move quickly to take the next steps and communicate frequently. Time kills deals and a lack of communication for any reason is likely to be interpreted as a buyer no longer having interest.
After credibility has been established over the phone, it is very important to begin building credibility in person. Conducting a site visit as soon as possible will not only help a buyer in further evaluating the opportunity, but a potential seller will begin visualizing how a transition might occur and get comfortable with how good of a fit the buyer is for the business. Since most buyers don’t spend the time to make it this far, sellers have no choice but to take the buyer seriously.
Sometimes at this stage, one party might realize that the deal is not a fit for them and might decide to move on. While initially disappointing, this is also a positive outcome as no more time will be wasted.
Establish Fit then Price
While a buyer is establishing credibility through this process, they are also taking the important steps to evaluate the fit of the opportunity. At Calder we advise our clients to establish fit before talking price. Now that a buyer has taken the steps to establish credibility and evaluate fit, their offer will likely be taken very seriously by the seller (assuming the price and structure are fair).
Create a great first impression with a seller over the phone and move quickly to get on site and meet the owner in person. Doing so will foster the buyer-seller relationship needed to get a deal done and establish vital buyer credibility.
Interested in Working With Us?
Calder works with clients on a guaranteed basis, so if we don’t deliver our clients don’t pay. Check out some of our current clients here.
Alternatively, if you enter your criteria here our system will automatically alert you to any current or future opportunities we are representing that are of interest to you. Be advised, these engaged sellers are represented by us and selling through a competitive bid process.
If you are interested or know of a potentially interested party, please contact:
Sam Scharich
Direct: 616-970-6124
sam@caldergr.com