Question List for First Proprietary Meeting

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by a searcher from University of Maryland - Robert H. Smith School of Business
in New York, NY, USA

5yrs ago

Question List for First Proprietary Meeting

I have my first - first proprietary lead owner meeting coming up. Does anyone have a checklist of questions I should include they can share?

Thank you!

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reply by an admin 5yrs ago
from Massachusetts Institute of Technology in New York, NY, USA

Hi Andrew, actually for most industries in the US and some foreign ones we just put in a section on the IBISWORLD report that specifically says "Questions for Owners". Check it out! redacted

reply by a searcher 5yrs ago
from Harvard University in Colorado Springs, CO, USA

With proprietary search, the vast majority of your meetings will be with businesses that don't fit your criteria or aren't really for sale. Ask about their "journey" which will 1. help you figure out if they're actually selling their business and 2. will give you information about their businesses (revenue, employees, margins, etc.).
You might think of your goal as to "get to a no" as quickly as possible. If you are trying your hardest to get information that will kill the deal in the first conversation (without being rude, obviously) and still can't do it, then it's probably worth putting more thought into it. A good searcher I'm friends with says she's talked to hundreds and ends most conversations within 15 minutes. That's not my style, but I've leaned on intermediaries, so I already know that the business is for sale and that the business fits my criteria.
Also, you probably will just have to do a few of them before you feel comfortable, so don't beat yourself up if you think it goes poorly.