Most people get stuck in acquisitions because they try to pick the perfect industry before they ever look at real deals. In practice, clarity comes from seeing actual businesses, pressure-testing the numbers, and learning why something looks good on paper but falls apart up close. I’m walking through exactly how I evaluate deals and decide what’s worth pursuing on a live webinar Tuesday, February 17th 🐺🪓

Once you start looking at real deals, this comes up fast. Business brokers. If you’ve reached out to a few already and felt ignored, slow-walked, or brushed off, you’re not doing anything wrong. This is just how the system works. Business brokers are a lot like realtors. There are some very good ones, and there are plenty that are sloppy, slow to respond, or purely transactional. It’s a mixed bag. Here’s the part most buyers misunderstand: Brokers are not focused on building relationships with buyers. They’re focused on selling the business they represent. They get contacted all day, every day by people saying: “I’m interested.” “Looks cool.” “Can you send more info?” Most of those people are not serious buyers. Brokers don’t know who’s real and who isn’t, so they default to treating everyone transactionally. That’s normal. I’ve taken brokers out for coffee. I’ve tried to build relationships. Even while actively buying businesses, that hasn’t always translated into special treatment. If there’s a deal I really like, I’m persistent. I’ll call multiple times in a day to get someone on the phone. Not because I’m being aggressive, but because that’s what seriousness looks like in this market. Here’s what actually changes how brokers respond: You package yourself clearly You know what you’re looking for You follow up consistently You don’t take slow responses personally They’ll send the NDA. They’ll send the information. They’ll work with you. But you may need to push the process forward. If you’re expecting enthusiasm or hand-holding from brokers, you’ll get frustrated fast. If you expect a transactional process and show up professionally, things move. Persistence and professionalism go a lot further than trying to be liked. That’s just how the game works. If this has been confusing or discouraging for you so far, you’re not behind. You’re just early. I’ll break this down further in upcoming posts, including how experienced buyers signal seriousness early so brokers know who they’re dealing with.

Banks are willing to loan money to a proven business more often than they would be willing to if you were starting from scratch.

“If this business is so great, why would someone ever sell it?” It’s a fair question, but it’s usually based on a wrong assumption. Most people assume businesses only get sold when something is broken. In reality, that’s not how it usually works. In most cases, owners aren’t selling because of the business. They’re selling because of life. Retirement is the big one. A lot of owners are in their 60s or 70s and have been running the same business for decades. They’re tired. They’ve made their money. They want to slow down. Relocation is another common reason. Family moves. Health changes. Grandkids show up in a different state. The business works, but life pulls them somewhere else. I talk to sellers all the time. The most common reasons I hear are retirement and relocation. Sometimes both. A surprising number of people just want to be done. They want to travel. They want to spend time at the beach. They want to walk their dog every morning instead of dealing with employees and customers. In the past, a lot of these businesses would have been passed down to kids. That happens far less now. Many kids don’t want to take over their parents’ company, which leaves selling as the most practical option. That’s why there are more good businesses for sale than people expect. It’s also why plenty of solid businesses never sell at all. They just shut down because there aren’t enough serious buyers who know how to evaluate them. If you’re early in the process, it’s easy to talk yourself out of opportunities by asking why someone would sell a good business. Once you start having real conversations with real owners, the answer becomes obvious. People change. Priorities change. Great businesses still get sold. Scott

ITS A BUYER'S MARKET and there will be tens of thousands of businesses hitting the market every year for the next decade or so 🤯