24 Mar The Critical Importance of Reaching Serious Buyers and Sellers During the Pandemic and Beyond
In our previous article, “Lead Generation for Business Brokers and M&A Advisors,” we explored how webinars and presentations can be a fantastic way for business brokers to find more clients. The original webinar can be accessed here. In this article, we’ll dive in and explore more of Kells’ thoughts on how business brokers can maximize webinars to build their businesses.
Mr. Kells feels that it is key to note that while the “Baby Boomer retirement wave” that was predicted to hit about 10 years ago never materialized, the game has changed. The pandemic has caused a substantial shift in people’s thinking. It is now more important to reach sellers than ever before. Many are now far more receptive to selling than they were in the past.
In an era of uncertainty, it is critically important for you to establish yourself as the “go-to expert.” One of the core reasons that presentations can help brokerage professionals attract more buyers and sellers is that the presentations work to establish you as an expert. In other words, webinars and presentations can be used as a vehicle through which you can showcase your knowledge and attract new business.
Once you have the attention of prospective sellers, it is critical that you understand the motivation and psychology of sellers. Mr. Kells’ view is that it is necessary to find people that are serious about selling in the next three years. Or as he phrases it, “I’m not trying to work with people who want to sell 10 years from now.” He also feels that sellers need to understand the current pandemic reality, and that means jumping on businesses now. There will be a wave of businesses hitting the market in what Kells refers to as a “mass exodus.” It is best for sellers to position their business ahead of the curve.
The wave of Baby Boomers looking to sell due to the pandemic, instead of rebuilding, is a real phenomenon. Sellers who get out in front of that wave will fare better than those who wait. There are plenty of good businesses on the market right now for buyers. It is up to you to educate buyers and sellers alike as to the opportunities and pitfalls that reside within the situation.
In terms of working with sellers, Kells feels that it is vital to find buyers that are both committed to selling and have realistic expectations regarding value and sales structures. Kells feels that these two variables are essential for sellers looking to achieve optimal outcomes.
Now is a period of uncertainty, but through webinars and presentations, you can present yourself as a trusted expert in the industry. Now more than any time in living memory, the services and expertise of business brokers and M&A advisors are needed and required. Now, is the time for you to take aggressive steps and attract new buyers and serious sellers.