Lesson 90: Brand

About the Searcher

You want to lead a business. The problem is you do not know where to start. You found this newsletter about acquiring and operating businesses. Then you learned people, like you, can lead a business. 

You decided to start calling business owners asking if they would like to sell to you. The first person did not pick up. Nor did the second, third, or fourth. The fifth person picked up but when you told them what you wanted, they hung up on you. 

But you did not give up. As you called more people, you improved. Each unanswered call or “I’m not interested” inspires you to focus more on the owner than yourself. Owners want connection. As you connect person to person, they begin to see you are the best leader to follow in their footsteps. Your partnership with the owner sets in motion the sale of the business. You are both exhausted by the process. But one anti-climatic morning - probably on a Tuesday - you both sign a document agreement to purchase the company.

Congratulations, you now lead a business.

About Entrepreneurship Through Acquisition

I learned to tell a story in Kindergarten when Ms. King gathered us on the Reading Rug to turn the pages of The Very Hungry Caterpillar. By the time I got to business school, I started filling stories with fancy language so my stories got worse. I still struggle to tell a simple story to business owners when I get on the phone. I am still learning.

My goal is to learn how to clarify my message for the business owner looking to find the next leader of their business. I am reading Building A Story Brand 2.0 by Donald Miller. He said, “The human brain… is drawn toward clarity and away from confusion.” One takeaway I have is the simpler my story is, then the more the business owner is drawn to it. 

If you want to buy a small business, then you must figure out your simple story. You will tell it first to the owner, then to your employees, and finally to your customers. Here are four steps to telling your story so people listen:

As a Searcher, I have this memorized. It goes into every conversation on the phone, and this discipline keeps my mind focused on the other person in the conversation. The more I focus on them, the stronger the connection.

About the Bigger Picture

My vision is to leverage my influence as a Black business leader to pursue economic justice. Your story is your brand. It is the way you influence those around you to join the story. My vision is about closing the racial wealth gap. My mom, grandmother, and sister always take care of our community and taught me use my resources to do the same. The reason I started this newsletter is so people, like you, would be inspired to lead a business and pursue economic justice. Together, we will create better jobs for people to care for their families and communities. Will you join me?

This is Lesson 90: Brand. Next week is Lesson 91: Speed.