How do you approach cold calling targets? Any advice or scripts that work?
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by a searcher
from The University of Texas at Austin - Red McCombs School of Business
in 700 Milam St, Houston, TX 77002, USA
in 700 Milam St, Houston, TX 77002, USA
5yrs ago
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by an intermediary
2yrs ago
in Dallas, TX, USA
in Dallas, TX, USA
The initial approach depends upon who answers the phone (showing respect for confidentiality is important)
IF it's a gatekeeper, you're calling about "growth" or "expansion" opportunities until you get the owner on the phone. (You really can't go into more details due to confidentiality)
With an owner, something along the lines of:
We're in business sales and acquisitions, first let me say that I am NOT trying to sell you anything. I just have a quick question for you, (Don’t stop, keep talking) With all the volatility in the market as well as activity within our network of buyers and investors, we're seeing a lot of opportunities for businesses like yours. If I had a buyer who was interested in buying your business would you possibly be interested in selling, if the price were right ?
IF YES - Oh of course…anything is for sale if the price is right… but if you’ve seriously thought about selling your business within the next 5 years…we’d love to (schedule an appointment and follow up with a recommended list of financials for preparing a valuation OR dive right in) Great can you tell me a little bit about your business and how you got started. (LET'EM TALK)
IF NO/NOT NOW - Understood, that being the case would you be interested in potentially expanding by acquiring another business? I have several businesses available that might fit really well with yours for a possible expansion, would that be of interest? IF response is: Not at this time. THEN: OK, I understand. Would it be OK with you if I kept in touch with you every few months or so just to see if anything changes? You never know what the future holds. Perfect, I’ll send you my business card, just in case you run into someone interested in buying or selling, I have found that most business owners know other business owners and most of my business is by referral. Is it OK to send my card to your business address or should I send it via email or a different address?
Either way, you're building a pipeline of warm follow-ups for the future.
IF it's a gatekeeper, you're calling about "growth" or "expansion" opportunities until you get the owner on the phone. (You really can't go into more details due to confidentiality)
With an owner, something along the lines of:
We're in business sales and acquisitions, first let me say that I am NOT trying to sell you anything. I just have a quick question for you, (Don’t stop, keep talking) With all the volatility in the market as well as activity within our network of buyers and investors, we're seeing a lot of opportunities for businesses like yours. If I had a buyer who was interested in buying your business would you possibly be interested in selling, if the price were right ?
IF YES - Oh of course…anything is for sale if the price is right… but if you’ve seriously thought about selling your business within the next 5 years…we’d love to (schedule an appointment and follow up with a recommended list of financials for preparing a valuation OR dive right in) Great can you tell me a little bit about your business and how you got started. (LET'EM TALK)
IF NO/NOT NOW - Understood, that being the case would you be interested in potentially expanding by acquiring another business? I have several businesses available that might fit really well with yours for a possible expansion, would that be of interest? IF response is: Not at this time. THEN: OK, I understand. Would it be OK with you if I kept in touch with you every few months or so just to see if anything changes? You never know what the future holds. Perfect, I’ll send you my business card, just in case you run into someone interested in buying or selling, I have found that most business owners know other business owners and most of my business is by referral. Is it OK to send my card to your business address or should I send it via email or a different address?
Either way, you're building a pipeline of warm follow-ups for the future.
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by a searcher
2yrs ago
from Wilfrid Laurier University in Kitchener, ON, Canada
from Wilfrid Laurier University in Kitchener, ON, Canada
I recommend taking the Cold Calling course from Cardone university (Grant Cardone)
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