What Search Methods for Owners Work Best?

August 20, 2022

by a professional from Marquette University in 21370 SW Langer Farms Pkwy #196, Sherwood, OR 97140, USA

Last year I helped a company sell. We used a M&A firm that has lots of contacts with Private Equity companies and others. As it turns out, the company was sold to someone that is part of this community. That may have been a coincidence or not. I doubt I'll ever know.

I'm currently doing my own search for owners and presidents of companies from $1 Million to $100 million in sales in the manufacturing, technology, and transportation areas. I've hired a company, ClientsIO, to do some searches for me and do cold calling. This was based on the M&A Firm mentioned above using them and giving them a good referral to me. I'm about 1 month into the process with less than stellar results. I had a recommendation for several companies using LinkedIn and Sales Navigator, but rejected those because I find many small business owners don't have LinkedIn profiles or look at it at all.

What approaches and experience are others using and having?

Reply by a searcher
from Central State University in Atlanta, GA, USA

That's interesting. I'm a so!o searcher and not to sound over confident, but give me a list of 5-7 business's and I'll set at least one solid appointment. I highly recommend cold calling. The thing that I've noticed is Firms that cold call sound like Firms that cold call NOT a regular, down to earth human being. I strongly believe I have great success because in my experience business owners don't want to talk to Firms but instead another human being that has a vested interest in carring on the legacy of the business not someone looking to complete a transaction.

I can't tell you how many times I've heard: "Are you a business broker or are you a PE firm?"
When I answer No, the owner says "oh, okay, I'll talk to you".

Maybe try to not sound like a professional services firm but instead like a friend making a call for a friend.

I use Data Axle to find a name and a number. That's it. databases aren't always accurate in terms of sales volume for private companies. I do filter by a certain size. As long as I have a name and number I can feel out the owner for the financial information.

Reply by a professional
from Marquette University in 21370 SW Langer Farms Pkwy #196, Sherwood, OR 97140, USA

To Brandon, I would say I'm looking to offer them a service to improve their business which may lead to a better sale of the business. To Ted, I'm surprised by the physical mail. My 40 year old son checks his physical mail at home about once per month. He does not even have a business physical mail. To Niilo, I'll recheck Grata but I found that an expensive deal previously; Inven.ai is new to me and I'll check it. To Alberto, that's my step right now, but that is AFTER I find the company, person, email and phone information. What do you do for that? To Rich, interesting idea. I'll take a look.

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