What Are Your Favorite Questions During The First Call With An Owner?

07/12/2019 Redacted Redacted

searcher University of Pennsylvania - The Wharton School United States Naval Academy

WHAT ARE YOUR FAVORITE QUESTIONS DURING THE FIRST CALL WITH AN OWNER?

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admin Stanford University - Graduate School of Business Massachusetts Institute of Technology Harvard University - 07/25/2019

^[redacted]‌: I think you'll find this thread to be of interest: https://www.searchfunder.com/post/first-call-with-seller

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investor University of Notre Dame - 07/31/2019

I always enjoy "How did you come up with the XYZ name of your business" - more times than not there is a really good backstory story

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intermediary University of Mississippi - 07/31/2019

I like "Tell me a little about your business? How'd you get started?". Seems to be a great ice breaker.

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searcher St. Norbert College - 07/31/2019

I second what Craig said, I would also recommend "If you weren't selling the business how would you double the revenues/ profit of the company in the next few years?" Helps to get them talking about the future possibilities for the business.

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intermediary Catholic University of the Sacred Heart - 07/31/2019

agree with Craig but I would also ask his/her opinion on the industry

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lender Florida Atlantic University - 08/01/2019

I would recommend, "What gave you the fire in your belly to get this business started and what's making you want to sell it now?"

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searcher Harvard University - Harvard Business School Georgetown University - 08/01/2019

"Why are you selling? What are your plans after selling?" Testing for commitment to selling is key.

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searcher Washington University in St. Louis University of Colorado at Boulder - 08/01/2019

In addition to what everyone else has mentioned, I enjoy questions that allow owners to showcase the positive aspects of their business e.g., "where do you see the biggest opportunities?" "what are your favorite parts of operating your business?" etc.

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