How about buying a company as a way to grow yours? Even the smallest companies can use acquisition as a fast growth strategy. The biggest obstacle is getting your head around the concept.
Mergers and acquisition are not only for big company players. Consider…that’s how they got big!
Bottom line: Acquisition is the fastest way I know to grow. Here are a few tips….
Start with vulnerable conversations. Meet your referral partners and competitors for lunch. Just you and the owner. Your treat. Ask about their hopes and dreams and current frustrations.
Take notes and stay in touch. Life changes quickly and someone may need a way out.
Remember, you are at NO now. There is no pressure to make a deal. Just be kind and try to understand what they are going through. Perhaps, when they are ready, you may the right person to whom they can transition their business. Take your time on the path to YES.
This isn’t magic. Some deals move quickly and easily. Some get bogged down. Pricing companies – especially small companies – can be tricky. Still, you can get started today by taking a prospective seller to lunch.
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PS…For more (and more accurate!) info about the colossal and controversial Disney/21st Century Fox merger…