Today, we have a very interesting topic as I talk with Ace Chapman who runs a business of buying and selling businesses. He actually started his own business at a very young age of 19 until he found more success in buying existing businesses and building his vision on top of them when it’s already profitable as opposed to starting from scratch. He also talks about the importance of buying whole business at the right time.
Here are the highlights of my conversation with Ace:
Strategies in running a successful business of buying and selling businesses:
There are cycles in how businesses go up and down. Understand that you can be at whim of the economy going up and down. It’s not seeing the future but seeing the past.
Consider if the asset is salable making sure you’re able to get in and out of that.
Selling a business vs. selling a product or service:
More strategies to become successful in your business:
A lot of people try to sell something based on what they think the person is worried about instead of just asking. Ask them what their concerns are and show them that you can alleviate it.
Don’t just make stuff up. Be real with them. Put something in front of them in a way that can hold them and just get more of those involved in alleviating their concern.
Having processes in place is critical to the success of your business. Also delegate some tasks to people who know how to do it.
It’s not necessarily about agreeing with the fact that it’s a problem but agree with the fact that you can see why they see it as a concern.
Creativity is key to get you to the next level.
Many people focus on the tool that’s going to get them what they want instead of focusing on what they want. Be clear about your goal.
Things that motivate salespeople:
Ace’s Major Takeaway:
Do not take any aspect of it personal. Otherwise, it takes the focus off the process and what you can control, change, and improve.
Connect with Ace on www.acechapman.com or send him an email at firstname.lastname@example.org.
Check out Ace’s book on Amazon called The Ace Formula
Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.
Donald is the host of the popular sales podcast,"The Sales Evangelist". He is the founder of The Sales Evangelist Consulting Firm where he helps small companies develop killer sales process to scale their business and increase growth.Donald is also an award-winning speaker, sales trainer, and coach. He's a big fan of traveling, South Florida staycations and high-quality family time. Donald has a belief that “anyone” can sell if they have the desire and receives the proper training.