Thanks for the tag, Luke. I agree with David: disqualifying leads quickly helps maintain a manageable volume for me as a first-time searcher. How I've done this at the prospecting stage is to build a lightweight cash flow model for relevant projections using just a few deal-specific inputs (e.g., EBITDA, multiple, revenue growth, leverage) and my investment criteria. That way I can quickly see what financing options and potential IRR for my specific situation look like based on the business's core financials, disqualify anything that doesn't fit using data, and go deeper on the right opportunities.

I agree with others above that it is important to get to a 'no' quickly if an opportunity doesn't fit. Then in the 'maybe' phase you evaluate further, dig deeper and test the business for your fit. Keeping in mind that buying is easy...... Running / making profit and successfully exiting are the hard bits!