02 Feb The Importance of Staying in Front of Prospects
Reaching business owner prospects is one thing, but staying in front of those business owner prospects is definitely a different matter. In our recent BBP webinar, “How to stay in front of business owner prospects over time after first approach with Adam Ray,” we were joined by Adam Ray, Founder of BizNexus. BizNexus is an online marketplace for buyers and sellers. M&A advisors can use their tools to post deals, match buyers and sellers, and generate leads. During the interview, Ray discussed what business brokers and M&A advisors need to do so that they can stay front in center in the minds of business owner prospects.
Ray pointed out that in his experience a whopping 99% of all business owner prospects will simply not be ready to discuss their exit plans when you first make contact with them. The fantasy of calling up a business owner and easily inking a deal for their company with a serious qualified buyer, is just that, a fantasy. Instead, in order to make a real impact, your message and the education that you provide to potential clients must stay in front of them for a considerable period of time.
Ray firmly believes that in order to successfully stay in the front of a business owner prospect’s thoughts, it is essential to have a system in place. Without a system, the odds are excellent that prospect will forget you in time. The risk of this is obvious in that the prospect may end up moving on to another interested party, whether it is another brokerage professional, or another party looking to exploit the opportunity.
The system that you put in place should be one that provides not only education, but also works to establish the you as a recognized leader in some fashion. Nurturing leads is more than just something you should routinely do. It is, in fact, an essential part of achieving success as a business broker or M&A advisor.
Ray notes, “Make your prospects and referral prospects feel warm and fuzzy about your credibility as an authority in the area of business, acquisition and sale”. His view is that you must have a “long game” view of working with business owner prospects. Doing so can provide intermediaries with a huge advantage.
In our next article, we will dive in and explore some of the important steps that you will need to take to ensure that their prospects don’t forget you. Whether you’re new to this career or are a seasoned and experienced broker, these great actionable tips can be used with excellent results.
