Clients always want to know how we can quickly understand the perspective of the owner of the acquisition target. Over the past 15 years focusing on the privately-held, not-for-sale space, we have a 98% success rate getting our clients in meaningful conversations and meetings with companies that are deemed to be a strategic fit.
The reason the Capstone approach is so successful is that it is truly unique – and we continue to hone it every day. Many clients and prospective clients have experience ‘attacking’ owners with bulk mail and cold calls – which are almost always unsuccessful. Owners on the receiving end of this barrage tell me, “I get calls from people who want to buy my company every day. I ignore them.” This is in addition to CEOs who tell me that generic letters go straight into the ‘round file’.
If you were to talk to owners we target, you would hear a much different response. Usually, it sounds like “I am not sure why I returned your call but something was different about you. It seemed sincere…you know more about us. It makes sense.“
You need to have the right data to deem a company attractive. You need the right information to ‘open the door’ with an owner. You need to have a well thought-out approach and story for the owner. Remember, they not only don’t need to sell – they don’t need to talk to you. Consider how you can alter that dynamic.