Best argument to convince potential sellers

by a searcher from Université du Québec à Montréal

3 years ago

Many potential sellers are not fully motivated to sell to a young professional without any direct experience in their industry.

What are your best arguments, strategies to make them understand that we are the right person to take over the business?

14 likes
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16 comments

searcher from London Business School

If being a young professional is the issue I believe is key to:
- Demonstrate industry and business knowledge even though one might not have industry experience.
- Fill the industry experience gap by successful professional experience.
- Differentiate from traditional investors (i.e. willingness to roll your sleeves, ability to build a closer relationship).
- Depending on the company a young professional might be what is needed to drive change and be more agile in the management of the company.

3 years ago | like reply | 0 likes

intermediary from Harvard University - Harvard Business School

Time for a splash of cold water to the face. When the owner says something like that, he is 99.8% of the time really telling you to go away because you don't have the cash to make a deal come together. You want to know how to convince a business owner to sell to you? Show him the money, not a list of friends with money. Hoping the seller will like and trust you enough to accept a below market deal that includes seller financing is fool's gold. If you have the money to make a market rate deal for cash, your lack of experience will truly be of little concern to the seller.

3 years ago | like reply | 1 like

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