Recently, I was on a cruise with my family. We called into Cozumel, an island off the coast of Mexico.
We took in an excursion swimming with dolphins. It was an amazing experience.
If I can build rapport with a mammal in its natural habitat, how hard can it be to build rapport with a business owner in his or her natural habitat — the business you want to buy?
Rapport is one of the four key ingredients of a successful first meeting.
The others are building trust…
And positioning yourself as a “safe pair of hands.”
Do all four… and the seller will fall in love with you.
Rapport is the most important. It’s all about relating to the seller in as many ways as possible.
Do you share the same hobbies?
What can you find out about the seller during your initial research to serve back to him or her in a meeting?
Has he or she won an award? Congratulate them.
Does he or she support the same sports team as you? Yes. Great. Discuss…
I looked at a business last year in the U.K. The owner had just become a grandparent for the first time, and is a passionate fan of Everton, an English Premier League soccer team.
When I found that out on our initial call, I immediately went to Amazon and ordered the tiniest baby team kit for his granddaughter.
When I went to visit him and his business the following week, I presented it to him.
That one single act built the highest rapport I have ever seen with an owner.
It cost me $30.
What can you do with your seller to create that instant rapport, friendship and bond?
It makes a massive difference to all aspects of the deal.
My friend (and fellow dealmaker) Jeremy Harbour once said, “All you need to do to have a seller give you the business for $1 is to get them to really, truly like you.”
Find out what really makes your seller tick and make a small, inexpensive — or free — gesture.
Watch your rapport skyrocket and make your deal so much easier to negotiate.
Until next time, bye for now.
Editor and co-founder, Dealmaker Wealth Society