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Thread: Business broker cold calling for new customers

  1. #1
    Moderator Kay is a Premium Member
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    Business broker cold calling for new customers

    I received an unsolicited email from a business broker. At first I wasn't sure if it was spam or just cold calling.

    Although it's personalised to me by name. The contents of the email are simply to entice me to use their services. They say that the market for UK business is expanding and there's more demand than supply. Therefore, they will help me to get the highest price for my business. They can help with valuations, getting my business ready for sale, and if I'm not ready to sell yet, they can help me with my exit strategy. There's no mention at all of how much they'd charge for all this help. My guess is that they've gone through a directory of businesses and emailed all the business owners with this same promotional message.

    Out of interest I had a look at their website. Most of their clients are in the multi-million league, so why the heck are they contacting me? It's looks as though they're on a blanket cover customer acquisition drive.

    I decided just to ignore the email. But they're persistent. I got a follow up today (probably automated again).

    It just seemed odd to me that a business broker would be emailing all and sundry in an attempt to attract new customers. What does that say about them? That they're desperate for business or just aggressive in their expansion strategy. I can understand receiving a cold call from a broker if they had already identified an interested buyer. But is it 'normal' for a broker to do business this way?

    (Most of the services they offer are already available on EP anyway - getting the best price, getting your ducks in a row, etc. )
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  2. #2
    Publishing Mentor dsieg58 is a Premium Member
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    Most of their clients are in the multi-million league, so why the heck are they contacting me?
    They know a class act when they see one? They are intuiting great, million dollar, sales from your Udemy courses?

    But is it 'normal' for a broker to do business this way?
    Why not send them a link to your food safety book? That's what I'm doing. If they to contact me with business propositions, I think it's only fair I return the favor. I even have a form letter with nice glossy graphics I cut and paste just for them.

  3. The Following 2 Users Say Thank You to dsieg58 For This Useful Post:

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  4. #3
    Moderator Kay is a Premium Member
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    I love the idea of sending them a counter proposal.

    Better still, perhaps I could sell them an advert on EP.
    British Expat - helping people to live and work abroad since the year 2000.

    The joy of Internet delivery - the cartoon illustrating this will make you laugh!



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    Better still, perhaps I could sell them an advert on EP.
    Definitely.

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    I actually received an email from one of our competitors in the industry telling me that there was someone who was interested in buying a site I owned. I let them know who I was. After they found out, they told me that it was just a fishing expedition to see if they could get new clients. I found it a bit tasteless to lead in with "We have a buyer who wants to buy your site", but not surprising, unfortunately.

    When I first started Quiet Light we did do quite a bit of cold calling and had some success doing it, but that was quite a while ago. I do wonder how effective it would be in todays market, but I have no problem with a firm cold calling so long as they are doing it honestly.

  7. #6
    Publishing Mentor dsieg58 is a Premium Member
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    I actually received an email from one of our competitors in the industry telling me that there was someone who was interested in buying a site I owned.
    I can beat that. I got an email from a competitor for my consulting service. He sent me an email pretending to be a client. First thing he did was explain endlessly how clueless he was about the industry. Then he kept on asking me if I needed suppliers for "X", or "Y." When I said I didn't, he changed the subject and wanted to know if I was able to get suppliers in SE Asia. I said I didn't need any there either. OK, he's getting no joy. All my alarm bells are going off at this point, but I stayed in the game because I'm as curious as the next guy when it comes to scams. So he decides to change tact again, and says he'll only hire me if I go with HIS suppliers. So I asked why those suppliers? And I get a long song and dance about what great reputations they have and they have done this and that, etc. So I mentioned he seemed quite knowledgeable about a subject he was so clueless in. Come to find out, he was the president of the national organization for my industry and he's drumming up business for his organization and only wants to pimp his network, his organization and his suppliers. This was the same organization that when I tried to join a few years before, I just wasn't good enough, and they let me know it. Now, at no time did I let him know I knew who he was, or what he was doing. Then he wanted references of the last three companies I worked for, and on and on it went. Of course I told him to stick it. I'm sure if I had given them he would have been on the phone to them pimping them too. He's come back a couple of different times pretending to be different people as well. The last time he wanted to come to Texas to build something, for free of course, and I'd get the privilege of paying my own expenses as supplies, parts, and labor as well. Each time using a different ruse.

    This was from the president of a national "non-profit" and "bi-partisan" organization. This is the guy that goes to Washington and speaks to the government on behalf of my industry. I feel so much better knowing he is on the job looking out for my best interests.

    Now at any time he could have just said "Hi, I'm XXX and and wanted to know your opinion of ZZZ, and if you'd be interested in YYY. But I guess that is too complicated.

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