Search-funders and SMB buyers with sales experience are starting on second base.
Thread on how sales abilities improve your success odds in acquisition entrepreneurship:
1. SMB Deal Sourcing ~ SALES PROSPECTING
In order to buy a SMB, you need to see hundreds of candidates. How do you do that?
Like in Sales, you have two main prospecting avenues:
1. Inbound - Advertise or network with SMB professionals in your target market, e.g. business brokers / SBA lenders / CPAs / lawyers.
2. Outbound - Find and contact owners of SMBs that fit your criteria to see if / when they want to sell.
Inbound is nice because the opportunities come to you. But they might be few and far between.
Outbound is grunt work, i.e. "Dialing for dollars." Because of this (not in spite of it), outbound has advantages:
- More opportunities.
Higher-volume deal flow → better odds of a successful acquisition. Remember, it only takes one.
- Less competition.
Educated people shy away from grunt work. Your willingness to sweat will be rewarded with buried treasure (off-market deals).
