Often the more “creative” you are to find companies to purchase
the quicker you’ll find the “right” deal. “Working” trade shows
offers an extraordinary opportunity to find and quickly qualify
acquisition opportunities. To take maximum advantage of these
“corporate shopping malls”, you need to use proven techniques
to make this methodology worthwhile.
As a business buyer you want to use the most creative means
possible to position yourself to get the first shot at a viable
business that can be purchased, preferably a purchase
opportunity where you have no other purchase competition.
Herein lies the most noteworthy justification for working
trades shows within industries you seek acquisitions.
10 Reasons Trade Shows are “Fertile Ground” for Business Buyers
Any proactive business buyer will tell you that finding viable
companies that can be purchased for reasonable terms is a
“numbers game”. Thousands of company candidates, that lead to
hundreds of contacts, that lead to tens of acquisition
conversations, that hopefully lead to one company acquisition.
Trades shows offer an unparalleled opportunity to streamline
the business purchase qualification process because trade shows
are:
Industry Focused:
Only attend shows in industries you prefer
Geographically Biased:
Regional, National or International, take your pick!
Time Efficient:
You can visit with hundreds of companies in one trade show day
Cost Efficient:
For the cost of a plane ticket and a short hotel stay, you can
qualify thousands of companies and many related trade
associations.
Personal:
There is no better place to get face to face with a company
CEO, who can say an immediate “yes” to a purchase inquiry, than
a trade show
Interactive:
You can see, touch, hear, taste, smell company product and
service offerings first hand watch them demonstrated by
experts
Sales Personnel Intensive:
Sales personnel talk and talk … not only will they keep
Answering ALL your questions about the company, but they give
you insights into how best to approach key management and
whether they are viable acquisition candidates
Lead “Rich”:
After “bonding” with booth personnel in a matter of minutes
they will pass on other company acquisition candidate leads and
refer you to specific people industry trend insightful: There
is no better place to define the current status of a targeted
industry. New products/ services and countless conversations
tell all!
Relationship Starters:
Since you meet so many people face-to-face, you are able to
start memorable dialogues, long term relationships, with key
business decision makers. If reinforced with timely follow up
after the show, these relationships can lead to eventual merger
or acquisition discussions
When you are pursuing companies to purchase, you never know
where your next deal will come from. Introducing yourself to
hundreds of people, passing out business cards and company
introduction booklets to trade show booth participants, can and
will be passed onto other people not in attendance at the show.
Your exposure to others can be exponential.
An excellent technique to guarantee your expressed interest in
purchasing specific types of companies is proliferated among
others NOT in attendance, is to offer a reasonable financial
incentive, or “$ referral fee” to sales personnel working the
booths. If they refer you to a company you eventually purchase,
offer to cut them a check at purchase closing or to donate the
referral money to their favorite charity.
Remember, sales personnel typically have hundreds of customers,
probably also within the same industry you are interested in.
They personally know many business owners who might be
interested in selling. This referral technique can get you in
front of many business owners in a very short period of time!
Don’t Forget the Other Trade Show Attendees!
If you attend a trade show with the objective of also “working”
the attendees for leads on company acquisitions you’ll be
amazed at who you meet and where those conversations eventually
lead you to.
Be keenly aware of conversation dialogs between other show
attendees and booth workers that are already in progress within
the show booth. You can quickly determine who the booth visitor
is and from what company they represent…name tags are
priceless! If you hear something you like, or may
be to your benefit, introduce yourself to the person upon their
booth departure. This technique can generate many referral
opportunities for you.
Other opportunities to interact with trade show attendees are
conference seminars, luncheons and talks, and best of all, at
the show snack bars. Be observant, read name tags, listen to
and start conversations. Don’t be bashful introduce yourself,
give them your business card and company brochure. These
conversations are typically amazing because people in
attendance at these shows see you as a “fellow show warrior”
and often embrace an opportunity to share show and industry
perceptions, unique experiences at specific booths, or better
yet, suggest individuals you should meet at a specific company,
at a specific booth … and they will encourage you to use their
name when you introduce yourself!
Like in most selling situations, any business purchase lead you
get from a trade show needs to be followed up in rapid fashion.
Time is your enemy here. Be sure to re-contact your most viable
leads within five days after the show.
Finding a viable company, that can be purchased, sometimes takes
being at the right place at the right time. Working trade shows
effectively will give you countless opportunities to be at that
right place with the right person. Make this technique one of
your primary methods to find quality company acquisitions.
About the Author:
Mark Smock is President of
, the
FIRST international business buyer directory of its kind.
Business Buyer Directory provides a non-traditional means for
worldwide that meet their exact registered purchase criteria.
