Interested in selling your SaaS company one day? What do you say when that moment comes? In this video, I'm going to share with you how to conduct your first call with a potential acquirer. Exclusive Resource: Fundraising Like a Pro - Learn the 3 phases of fundraising and a 7 week process for starting & closing your next round of funding -
How To Use Role-Playing In Business:
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Bzzzt. Bzzzt.
“Hello?”
“Hi Dan, I’m calling from Google. We’re interested in potentially buying your company…”
Ok, it didn’t go quite like that, but it’s true - my first call with a potential acquirer was with Google.
I was super excited! I mean… Google?! They’ve got money to burn, and I was ready to take it!
...then I proceeded to make some big mistakes.
On that phone call, I did everything wrong. I gave them SO much information about my business that I sent them away with a step-by-step on how to do it all themselves.
I even told them how our code worked! What was I thinking...?
I was trying to sell them on my company but ended up with no offer, no callback, and nothing to show for all the answers I gave.
I let my excitement get in the way of my strategy.
So please don’t make the mistake I did. This week’s video is all about how to conduct your first call with a potential acquirer… without all the mistakes I made.
As an investor, I now know a lot more about this than I used to. You’ve got to follow these 5 steps to CRUSH that phone call:
1. Fit, Price, Motivation
2. Get Them Talking
3. Prepare Talk Tracks
4. Role Play
5. Stick To The Time
Imagine if that call goes wrong. What does that mean for you?
It’s the difference between a multi-million dollar sale… or convincing an acquirer to become your direct competitor and drive you out of the market.
All because of the words that came out of your mouth.
When the stakes are THAT high, you can’t just wing it.
One of my coaching clients, Adii from Conversio, had a call from a potential acquirer recently. I coached Adii on how to use this exact framework to make that call.
And it worked.
His company was acquired by Campaign Monitor for millions. That’s a massive exit that most SaaS founders could only DREAM of.
In the past 12 months I’ve coached 7 of my clients to exit and they used this first conversion process to ensure they didn’t mess it up :).
Even if you’re in the early stages of growing your SaaS, plant this seed in your mind now by watching the video here.
You never know when a casual chat with a new contact will turn into the business meeting that defines your future.
Dan “please hold” Martell
Don't forget to share this entrepreneurial advice with your friends, so they can learn too:
Learn how to scale, grow and exit with Dan Martell and some of the top SaaS Founders in the business on the Escape Velocity show:
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ABOUT DAN MARTELL
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“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one... not two... but three tech businesses: Clarity.fm, Spheric and Flowtown.
You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.
An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives - but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.
Exclusive Resource: Fundraising Like a Pro - Learn the 3 phases of fundraising and a 7 week process for starting & closing your next round of funding -
How To Use Role-Playing In Business:
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