Journey Update

Deal flow less than desired, but picking up.

Author

Jon DeCoste
January 16, 2024

Welcome to the Unconventional SMB. If you have not subscribed, click below.

New Ideas | Technology | Resources | Ops | Sales | Transition

Jan 16th

After a great holiday break and travelling with my family, things are ramping up in the Search. The focus for January was increasing high-quality deal flow. Yes, statistics will say it is a numbers game but I don’t see it that way. There is a benefit to the owners and investors I am engaging with and myself.

💬 Asks

  1. Introduction to small/medium business owners who may need a succession plan

  2. Introductions to business owners with interesting and/or niche solutions. I’m interested in learning about segments not currently in my view

  3. Have an investor friend who may be interested in chatting?

📈 Key performance indicators

Outreach calls & email

Inbounds calls and email

NDAs executed

3-yr financials reviewed

CIMs analyzed

LOIs sent

Searcher & Owner introductions

437

4

11

7

4

0

3

🌨️ Lows

  • It can be a mental rollercoaster during a Search. You have good days and then you have bad days. Those perceived bad days, when nothing seems to be going right and you forget that progress is measured in much more than a single day. Similar to being a CEO, it can be lonely running your search

  • Another round of COVID over the holidays impacted my sleep, exercise and other routines. It has yet to get rebalanced. I am feeling and seeing the negative impacts. A priority for the last half of January is to get my rhythm and higher energy levels back to normal

🚀 Highlights

  • Great initial feedback on a financing model from investors and banks

  • Warm intros have provided the most promising leads. They also seem to open up deeper initial conversations with owners which have already led to win-win outcomes

  • Learning: Sales and Marketing expertise is a common challenge for SMBs. For the majority of businesses I have spoken with, I can see several opportunities to increase their top line.

  • Opportunity?: I’ve had a few businesses inquire about whether I would consider consulting/coaching. Over the past six months, I’ve also had several individuals inquire about Sales Coaching, Personal Development and Career Coaching.

INTERESTING COMPANIES

Refrigeration transportation

Aerospace manufacturing

Steel enclosure manufacturing

Structured cable

Cyber security

Safety Transportation SaaS

🧠 On the sideline

  • Courses complete: Leveraging AI in Sales Processes & Revenue Architecture. Great application to business operations

  • One speaking opportunity - Topic: Leading a successful career with curiosity