Lead Gen Through Local Networking

August 13, 2022

by a searcher in Dallas, TX, USA

Has anyone had success networking with a non typical person that lead to a positive lead? I am running a local search and wondering if there are any other types of people outside of - lawyers, accountants, wealth managers etc, that are worth developing a relationship with.

Thanks!

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Reply by an intermediary
from University of Texas at Austin in Austin, TX, USA

As a business broker - the list you've got there is a good one and some of my top referral sources, but I'd add potentially getting involved at the local Chamber of Commerce or checking out some of the middle-market professional groups. ACG, XPX, etc. come to mind if they are active in your area. These groups often have public happy hours or coffees that are for members and non-members.

It takes some networking, but if you can make the right and authentic connection with someone in a CEO mastermind group (like a Vistage, etc.) - that's great too.

And - build a relationship with top brokers in your area; if you're serious and you make some effort (and stay in touch!) a strong, qualified, serious buyer is a good one for a broker.

I reach out to well-qualified searchers regularly when I think something is a fit. I just handed a $2.5+MM EBITDA deal to a couple of searchers who have strong resumes, strong equity backing, and took the time to build a relationship - rather than just sending me their form email and 1-pager.

Reply by a searcher
from The University of Michigan in Cincinnati, OH, USA

If you grew up in the area that you're currently looking then don't be shy about leveraging your existing personal network. That's what I'm currently doing in Cincinnati, OH and I've been very pleasantly surprised by the number of family friends, my friends fathers, new in-laws of my friends etc that own small businesses that I never knew about. I'm not shy about telling everyone what I'm looking to do, and good leads have consistently popped up out of thin air. And having a personal connection to the seller through friend/family is a great way to get in the door and build trust and rapport quickly.

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