If cash is king they the queen is relationships and like in chess the queen is the most powerful piece in the game. It’s a relationship game and don’t forget it; nobody buys from or sells to someone they don’t like.
Take time to nurture your relationship with the seller. The process is a lot like dating. Most people don’t marry the first person they date. They have dates with some people they find out they like, some they find out they don’t like and some they love. The same is true when looking at businesses. You have to look at a lot of companies to find a good match.
Spending two hours in a first meeting with a seller and only talking about “the business” for 20 minutes is great. Rapport is being built around common interests, family, sports or business philosophy. The worst thing a buyer can do is try to dig deep into the companies financial situation or their trade secrets in the first 15 minutes.
Take your time, build a relationship and see if you can make something happen.
