Managing Your Search Effectively: An Overview
As you begin your search, you’ll need to juggle two closely related tasks. First, there is sourcing—finding small companies that are acquisition prospects. While you are looking for just one good acquisition target, you’ll need to source at least hundreds—yes, hundreds—of prospects that are available before you find one that is right for you. Second, there is filtering: You’ll need to learn enough about these prospects to eliminate the companies that will not be good acquisitions for you. To search efficiently, you must be ruthless and quickly reject weaker prospects so that you can spend time learning enough about interesting acquisition opportunities to make an offer.