Recap: Deal Flow with Jackie Hirsch | What changed in how we teach search

Yesterday's session with Jackie Hirsch surfaced something worth sharing here directly. For the first three years of teaching at SMBootcamp, my guidance to searchers was to source exclusively through the broker channel. Brokered deals are more prepared, sellers are more committed, and the sales cycle is shorter. That's still true. What's changed is how competitive the broker channel has become. Since COVID, the volume is overwhelming. Some of Jackie's listings get 50 NDAs in the first few hours and 150 within 24 hours. When that's the norm, the math on the brokered-only strategy stops working for the average self-funded searcher. So the teaching has shifted: Start direct sourcing from day one, in parallel with the broker channel. Brokered deals still anchor the funnel, but direct outreach to owners can no longer wait until month four when the pipeline starts to dry up. A few other points from yesterday worth surfacing: - Stop using "searcher" on broker and seller calls. The word signals you have no money and no experience. Use "entrepreneur," "future business owner," or "experienced operator" instead. Be precise about what you actually are. - The Big 3 criteria (location, size, industry) and the Second 2 (operator vs. install-an-operator, financing structure) should be on a one-page bio before you make a single broker call. - You don't have to buy a deal to build a broker relationship. Reach out about an actual listing of theirs, even if it's not a perfect fit. The conversation itself builds credibility if you can quickly identify what's a yes, what's a no, and explain why. If you were in the session and have a follow-up question for Jackie, drop it below and I'll route it her way. Session 2 is today at 12:30 PM ET on Net Working Capital with Bruce Marks. Hope to see you there.