Attracting the right businesses
Find out why dealmakers attract interest from the wrong businesses in this short video by Jonathan Jay, founder of The Dealmaker’s Academy. In it, Jonathan explains:
- How to avoid or overcome this problem in a way that will save you money and time
- How doing this is the foundation for your dealmaking success
Prefer to read this? Here’s the transcript:
Hi this is Jonathan Jay, from the Dealmaker’s Academy with some top tips on buying and selling businesses.
Now one of the challenges that some deal makers have is that they say they don’t attract the right businesses.
They get inquiries from businesses that want to sell, but they’re the wrong businesses, they aren’t the businesses that they’re looking for.
And I think I know the reason why, the reason why is because they don’t know what they want, and because they don’t know what they want, then their marketing and their word of mouth advertising are a little bit scatter gun, and as a result they get a random selection of people approaching them.
Where if you’re very clear on your sector, on your market, the size of business, the location of the business that you want to acquire then you might get less deal opportunities coming your way but the ones that you do get are absolutely laser focused on what you want.
So having a personal strategy, knowing what type of business you want to buy, and the criteria that you’re going to buy, is very, very important, and that’s a starting point really for everything else that you do in deal making.