When speaking to a seller for the first time, what are your go-to questions?
I thought it might be helpful to exchange ideas on this topic. I like the question "If you were starting this business over, today, what would you do differently?"
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by a searcher
from Boston University - Questrom School of Business
in Newton, NH, USA
in Newton, NH, USA
11mos ago
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by a searcher
11mos ago
from University of Florida in Atlanta, GA, USA
from University of Florida in Atlanta, GA, USA
Agree with Ari. They know why they're talking to you, but at the same time you don't want to sound too mechanical or like a big investor. There is a human side to it. Listen to them and build a relationship and be able to walk away with them wanting to keep talking to you. Challenges they faced, how they accomplished it (it allows them to brag)...things they wish they knew earlier or did earlier always helps understand if they have a good problem solving/reflection ability or if they have tons of skeletons in the closet.
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by a professional
11mos ago
in Montreal, QC, Canada
in Montreal, QC, Canada
I agree with Foley, biggest mistake is forgetting the Human side. Blend Information Gathering with a Human side.
I've been in situations where the seller was hesitant to discuss why he was selling, you start diving into it thinking its an operational issue, and then you realize it's a very delicate health situation forcing the sale.
Need to balance both.
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