Hi,
I was going through sourcing best practices here and there and noticed that there is a high focus on how to massively contact businesses in order to source deals. Here is for example a advice I found in another thread: "I try to customize 25 a week and send out###-###-#### new emails weekly".
This seems very counter-intuitive to me. It is a B2B market where mass marketing approaches tend to work less.
What am I missing? What is the rational behind the numbers game?
Best,
Is it really a numbers game? Sourcing best practices
by a searcher from INSEAD
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We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
Here are some strategies I have seen that works:
1. Identifying companies that in your industry and building a list of companies around your ideal criteria such as revenue, EBITDA and so on
2. Reaching out to them with a little bit of personalization and introduction.
The reason why I'd go for a numbers game is because:
1. Not a lot of people are looking to exit their business / raise capital - a lot of sifting needs to be done, and the best way to go about that is via reaching out to a large number of companies and seeing who has interest.
2. Analyzing intent and checking which business owners are looking to exit right now is a high-cost & time-consuming endeavor. In an ideal world, this would be the best idea, but this is an expensive approach in terms of time & money since a lot of research needs to be done.
Hope this was useful.