How to connect more with the seller?
February 26, 2025
by a searcher in Las Vegas, NV, USA
Hi Folks,
I talked with a success searcher and he advised me to connect with the seller, and build a relationship, but I'm unsure how to start. I can do it with peers and friends. I want to know how other searchers built the relationship over time.
I was thinking of sending a newsletter that might be helpful for them.
Thanks
I talked with a success searcher and he advised me to connect with the seller, and build a relationship, but I'm unsure how to start. I can do it with peers and friends. I want to know how other searchers built the relationship over time.
I was thinking of sending a newsletter that might be helpful for them.
Thanks
from University of Pennsylvania in Boston, MA, USA
1. Find some commonality. Do your homework to see what the owner cares about in their work or even outside of work. Are they part of groups, do you have a common contact, what are their potential hobbies, do they have a family. Whatever the angle is, you want to try to build that rapport through a commonality.
2. Be authentic - as others have mentioned, don't try to be someone you're not. Faking it is not going to work so if you genuinely can't find a commonality, don't force it. I would even go as far as being upfront with them that you want to build a relationship with them since you want this process to go well. You think it's important to arrive at this potential transaction as a collaboration and you want to be a part of a successful transition. You can say you don't know how to build that trust yet but you would love to learn more about who they are. And be willing to share what you deeply care about too.
3. I would keep it less formal (i.e. a newsletter might send too formal of an impression unless done after a bit of the relationship is built). If you're in the same geography, suggest coffee, lunch, etc. so you can get to know them in a more casual setting.
Lastly, I'm sure there are a books out there that can help you. I'm currently reading "Dig your well before you're thirsty" by Harvey Mackay. It's a book about building a network but there are definitely some ideas in there that will help you.
from Occidental College in Portland, OR, USA
A few ways to build rapport and trust with a seller (assuming you found a business/seller you want to partner with):
- Be friendly. Always keep a positive and collaborative tone throughout the deal process—this will likely be a hard and emotional process for them (and you). No one wants to deal with a “downer”.
- Be interested in them (not just their business). Take note of overlapping areas of interest and connect on those experiences (e.g., Do you both ski? Great! What’s been their favorite session on the mountain this year?).
- Be considerate of other owners or key stakeholders around the deal. Do they have a spouse or children in the business? Get their input on the business (if appropriate), and what would make for a successful outcome from their perspective.
- Be proactive. Send follow-up communications, and be sure to respect the broker-seller relationship if they have representation.
- Be yourself. Authentically show up.
Good luck!