- They utilize the many resources found on the Internet. While technology does make searching for the company with the right assets easier, it doesn’t take the place of good old-fashioned communication. Sure, use online resources to seek out opportunities. In fact, that should be part of your initial plan. You can get the lay of the land, gaining exposure to listings for companies that are currently for sale, but also a look at completed deals that have transpired over the years.
All of that being said, you should also reach out to other professionals within the industry in order to get a better understanding of your prospects, and to ensure you get access to opportunity the moment it hits the market.
- They reach out to your colleagues – whether you know them from conventions or past employment situations. If you’ve been involved with the transportation industry, contact people from your trusted network to let them know you’re interested in expanding your portfolio. You never know when one of your contacts is ready to retire, or who knows someone who is moving on to another life calling.
- They know experience is essential. Another great way to learn about opportunities is through an experienced advisor, like the professionals at the Tenney Group. These experts, especially those who specialize in the transportation field, have likely recently negotiated hundreds of comparable deals, and they’ve worked with many buyers to seek out and negotiate the purchase of the transportation assets that make sense for the unique needs of each of them. They’ll have the inside scoop on all the most eligible prospects, and they may already have working relationships with some of the other parties involved – which may make any negotiations a friendlier environment.
The buyers who get the best deals possible start the process by putting out feelers, using all the resources available. They understand that each search, phone call, and email may lead to the perfect opportunity. Start your search off right, and you’ll end up finding the right deal for you.