Motivation

October 12, 2021

by a searcher from University of Southern California in Los Angeles, CA, USA

Just a quick note for the folks in here who feel like they're out in the middle of the ocean drowning... my $.02:

If you keep your outreach strong and you stay proactive, you will find a deal. They are out there. Every meeting with a business owner, good or bad, is a step in the right direction. Get as many meetings as you possibly can. I don't know a single searcher who failed with this approach.

If you expect deals to come to you via brokers and bankers, you might find a deal.

Finding a business is a sales game - not a marketing one.

Your pot of gold is waiting for you. Good luck.

Reply by a searcher
from Harvard University in Omaha, NE, USA

"Sales game" is a spot on remark. And like sales, doing key activities persistently and consistently increases the probability of success. I set daily, weekly, and monthly achievable activity targets during my search. Not only did it help my pipeline, but also I could still count a day as a good day if I hit all my activities but got all "No's".

Types of activities I tracked (I did cold calling and not email campaigns--this is 2014):
1. # of cold calls per day
2. # of follow up calls per day
3. # of owner discovery meetings per week
4. # of IOIs per month

I might be off on a metric, but that's roughly right. It helped keep me focused and engaged. Good luck!

Reply by a searcher
from Johns Hopkins University in Washington, DC, USA

I agree. Nothing will refine your search like a deal that falls through. You'll learn much about what you really need and a fair amount about yourself (& partners) along the way. Actually sitting with the owner and working through the relational dynamics is something so critical to understanding how to come out the other side the right way. Thanks for the comment.

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