Buyer

“And the Eureka moment was that look, this is a supply demand equation. They're just never going to be enough buyers for these businesses.”

“To help get buyers interested, being prepared is 100% the name of the game, especially doing things like where you can show that the business can operate without you. And if someone's going to buy the business, they're going to be able to operate things and ke…”

“Usually the buyers want to do an asset purchase for tax reasons, because that means they can re-appreciate the asset. And it's simpler.”

“Why do I want pessimistic? Because I don't want someone with happy ears. If you're happy ears and you're nice and everyone's nice and you like everyone, well, guess what? There are gonna be a bunch of deals that you're not gonna get because people are gonna li…”

“It's completely appropriate to ask buyers if they have the cash or to show you a bank statement and stuff like that. Or just asking for what we call a due diligence schedule.”

“We sort of, you know, offered the buyer, 12 months of commitment from the entire team to stay on and pretty much execute on the plan that we had sort of proposed to him would be how he could increase the value of the company, you know, over the next few years.…”

“We always recommend going with the seller or excuse me, the buyer that you're most comfortable with and that you're on good terms with, because it just makes everything so much easier.”

“And by telling people how your product is made, what goes into it makes them, it increases the value in the buyer's eyes.”

“What is your plan that you could share with the buyer? I'm passing this on to you. Do this edited how you need, but if you do this, you will 10 X it. So have that plan. Or yeah, the work of action that you can share with the buyer, because that will make them …”

“Many times I'll tell the seller this, the backstory of a buyer and sometimes they won't even count or even if it's at full price based on the personality and then the reputation of the person.”

“This is one of my top learnings from RAI from these conversations is that people there'll, and for a lot of reasons will prefer to talk to a great AI.”

“One of the biggest questions we were getting is kind of like, where was the traffic coming from and where are these new signups coming from without us having to pay for it? So that was really important for the buyers as they were thinking through.”

“I don't believe salespeople sell. Buyers buy. All salespeople can do is create an environment that is conducive to that purchase decision.”

“People have to realize these companies run and they have run with the current stack and making changes is a huge risk. Buying from a no name company Is a huge risk. You may not be there. And all of these buyers have made that a mistake of picking something tha…”

“By next year, literally in three months, 75% of all buyers will be either Millennials or Gen Z.”

“77% of buyers are more likely to purchase if they just see executive presence on social, let alone even what you're posting.”

“If your buyers don't value you as an advisor, I would question whether that buyer is a good fit customer and whether they will do everything they need to do to succeed with your plan.”

“It turns out that 87% of buyers in our two and a half million sales calls we studied Either showed moderate or high levels of indecision. The folks who are not worried about fear or failure were 13%.”

“Now, fast forward a few years, I believe with access to mining and downstream capacity in North America, engineers will still really like various magnets, and buyers also will like various magnets because they have multiple options for sourcing of various magn…”

“I did not pitch a big vision to the first buyers. That's actually the key. Yes, to the price, to the investors, you have to, and ideally don't educate your competition. Don't create your competition, right? Don't go right out and take crunch, beta kit and thin…”

“If you have one buyer, you have no buyers and it gets very fascinating. And this is how you increase valuation or get better terms is you have multiple buyers cause you have leverage.”

“When on an inbound lead to your business, the seller now gets nine percent of that buyer's time to evaluate whether they're going to go with you or not. And Harry, in that nine percent, this is according to Gartner, in that nine percent, you must split that ti…”

“If we think about it, most of the folks in B to B software, most of the time your buyer has never purchased software like yours before. This is the first time they've done it.”

“When you share that with the buyer doing during due diligence that can exponentially increase the chances of close case, something pops up.”

“A lot of entrepreneurs think taking their business to market, they want to show it as perfect, but it's actually the opposite. You want to show with bumps, bruises, the good parts, bad parts, because the bad parts can also be good parts.”

“I think the expectations of the market of a new startup, whether it's VCs or actually your buyers today, are much higher than they were eight, nine years ago.”

“Sometimes the person who puts out like the first LOI typically is the buyer of the startup, even if there's many different LOIs.”

“And I think that the most effective way to investigate because buyers can record the section, the session and watched later.”

“When you ask an entrepreneur if they want to sell their business, entrepreneurs are told to say, no, I do not want to sell my business. And they expect that the buyer is going to come over the top and say, even if you don't want to sell your business, we're su…”

“Every single week, we're sending that buyer, like, an exciting email, like, hey, this is a new initiative we launched this week. Hey, these are our sales numbers. Hey, et cetera, and keeping them completely excited, engaged the whole way until the close”

“And like, it almost fell out because the appraisal came in so low and I stuck to the full price offer. And, but I know he would have, they would have dropped if they weren't so excited and engaged and watching me grow the company for three and a half months.”

“When you're generating a new category, you're also needing to educate buyers that there is a category that they can now budget for and why they should allocate budget for that.”

“When we started buyer, which is our negotiation service for software that we launched two years ago and we ended up selling it to ramp. So I think we started that business for 50 K”

“For example, we have a good reference case buyer is a big pharmaceutical company. They have this like the most biggest outsourcing bid there has been in Europe. I think maybe globally, but it's a one billion dollars or euros is outsourcing. So they need to ope…”

“On the one hand, somebody who's more experienced, who's done more, more acquisitions in the past, they know the mechanics, they know the process. There's, you know they're going to ask for certain things and then they're going to do due diligence. Then we get …”

“So we start this business called buyer. We go 50, 50 on it. I promote it and talk about it, given the rails and accounting and stuff. And we literally, I think we started it for like 50 or a hundred grand and we sold it to ramp about maybe six months ago now f…”

“I think the next big shift is now to the how, right? The what is out there. The why the buyer is, in a lot of ways, convincing themselves of. Yep. Here's how it will actually work for you. Yep. That's the next step. And sales teams and people are still too foc…”

“So when they go to the table with buyers, they're at an advantage because right now they're at a disadvantage, both from an educational standpoint and experience standpoint.”

“No. The big thing on micro acquire is it's not, well, I won't say that it's, I would say it's not so much in favor of the buyers unless they have a plan to grow it and want to flip it on the backend, but the multiples right now are ridiculous in, in favor of t…”

“We were moving from a world where the company controlled the buying process, largely in the B to B space to a world where the buyer had all, all the control.”

“When you're creating the product just for the buyer, you get a terrible user experience, and it's just not a good thing for your team.”

“Can't recommend it enough if you can have somebody in your company that's been in the shoes of your buyer.”

“So I think part of it also is buyers want to control the launch and control the commercial message.”

“Sometimes voters don't know what they want. You know, just like buyers don't know what they want. You got to tell them what they want. And you can tell them what they want. You can actually create a new paradigm with them.”

“When a buyer or investor sees you as low status, they have difficulty listening to you, appreciating what it is you have, and they say things like, thank you for coming to present, We appreciate you coming in today.”

“We only charge for the buyers, the individuals within the organization that are actually running the bids and it's a per subscriber basis, so per user per month”

“These transactions are based on trust, and both sides need to trust the other, but part of building that trust is being honest with the people on the other side, and so we tell them to over-disclose if there is a, if there's something that You know, could poss…”

“Perfection is to give people a set of forecast, a forecast that you're going to meet and to meet it because it shows a certain level of competence and management control that is impressive when people are going to do that. But you're absolutely right. I tell t…”