Owners don't sell when you find them. They sell when something changes - a health scare, a partner leaving, a kid who doesn't want the business. The job is to already be the person they trust when that day comes. Same is true for most B2B sales.
@stuartawillson Origination is moving so far into the long tail of companies because of tools like this. Outreach is becoming a commodity. It’s what you say when they pick up the phone that matters. Be human, be interesting.
@bazfurby Same mistake shows up in deal sourcing. Firms buy the database first, then wonder why owners don't write back. Fifty owners and a note you'd actually send a friend will teach you more in two weeks than a year of data.
@PrivatEquityGuy Agree, and most LMM firms still run sourcing out of a few partners' inboxes. The ones winning treat banker coverage like a real system - who you called, when, and what they're bringing to market next.
@SMBDealGuy Most add-back surprises are visible on the first call if you ask the owner to walk through the adjustments himself. If he can't explain one without the broker in the room, price it like it isn't there.
@jayvas Same thing is happening in deal origination. Research, lists and outreach copy are close to free now. The scarce part is the person who can sit across from an owner and get a real answer on timing. Most firms still staff it the other way around.
@morganjingram Deal teams have the same problem. A note to a founder that can't say why this owner, why now gets ignored no matter how good the sequence is. The hypothesis line is also what makes the follow-up worth sending.
@guessworkinvest Day 1 of buying a lawn business is handing Ricardo "Turn the Ship Around" and banning "what do you want us to do?" By month 6 the Group D call is: "Boss, Isuzu's dead. I intend to rent the $375 truck, comp Mary $50, and pay James $40 to swap the starter. Have fun in Atlanta." /s