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Ten Ways to Win a Deal
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Transcript
It is usual that during the first quarter of the year lots of buyers search for businesses; that is why Andy and Jessica are dedicating today’s episode to teaching buyers how to win a deal. Tones of others like you have decided they want to be their own boss and step out of the world of corporate America, so it is crucial for you to be equipped with the best tools to reach the business you want and be able to acquire it. Sellers are interviewing and selecting buyers as much as the buyers are going through the process of choosing which business is the right one. The reality reflects that people buy and sell businesses to people they like; listen to this episode and learn ten ways to win a deal by buying the heart of the seller.
Key Takeaways
[3:02] 1 — Have respect for the seller and show that you value the work put into the business: “You have built a great business, congratulations!”
[5:10] 2 — Dress appropriately.
[6:25] 3 — Be ready to discuss your finances.
[8:46] 4 — You need to have a good story, succinct and truthful, about who you are.
[11:07] 5 — Have a positive growth plan for the business.
[12:14] 6 — Take care of the employees of the business.
[13:56] 7 — Just follow the process.
[16:15] 8 — Show respect for the advisor and honor the worker’s commission.
[19:10] 9 — Be able to hold your tongue if you are planning to make major changes.
[23:05] 10 — Be nice!
[28:22] Deal of the week: Michael Shea sold a toy distribution company that has been in business for 30 years. Making $5.5 million per year. Profit of $800,000 to $1 million net. Sold at $2.8 million (cash deal).
[32:48] Listing of the week: Jason Poot (Columbus, Ohio). Manufacturing company. Listed at $2.5 million. Prequalified for SBA loan. Producing $2.5 million. SDE $602,000. The owner is ready to retire and the business is ready to go. Fantastic for a strategic buyer.
Call us — 888-711-9018
Email us [email protected]
Call Michael Shea at 321-287-0349 or email [email protected]
Call Jason Poot at 614-315-7417 or email [email protected]
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