Your Tactical Guide to Starting Your Business Search

So, you’ve decided to pursue Entrepreneurship Through Acquisition (ETA). Congratulations! But the dream of buying a business can quickly become overwhelming. Where do you begin? How do you ensure brokers and sellers take you seriously?

This guide provides the foundational steps to set up your search for success, making you look like the professional, credible buyer you are from day one.

Your Legal Shield: Setting Up an LLC

Disclaimer: I’m not a lawyer, so please don’t take this as legal advice. Always consult with a qualified attorney for your specific situation.

An LLC is the most critical first step in your business acquisition journey, serving as your legal shield, professional calling card, and operational foundation.

Why You Need an LLC for Your Search

Legal Protection: This is the single most important reason. As a searcher, you will sign legally binding Non-Disclosure Agreements (NDAs) to review confidential business information.
- Without an LLC: If you sign an NDA personally and a breach occurs, a seller can sue you directly, putting your personal assets (home, savings, car) at risk.
- With an LLC: Your LLC signs the NDA. This contains any potential liability within the company, effectively shielding your personal wealth.
Professional Credibility: Brokers and sellers are inundated with inquiries from casual “tire-kickers.” A registered LLC instantly signals that you have formally committed time and money to the process, making you a serious contender. An email from your.name@yoursearchllc.com is infinitely more professional than a generic Gmail address.
- An Insider’s Perspective: A broker once told me, “The first thing I look for is an entity. If it’s a generic email address with no LLC, that inquiry goes to the bottom of the pile. It tells me they haven’t taken the first step to being a serious buyer.”
Operational & Financial Readiness: Your search is a business.
- Clean Accounting: An LLC allows you to open a dedicated business bank account, keeping search-related expenses separate and simplifying your accounting.
- Transactional Flexibility: The LLC you search with will likely not be the one you acquire with. Lenders, particularly for SBA loans, often require the acquisition to be made by a new, “clean shell” LLC with no prior history. Think of your search LLC as a temporary, professional vehicle to get you to a signed Letter of Intent (LOI).

Quick Tips for Naming Your Search LLC

Your name should align with how you are positioning yourself to sellers. Know your target audience and build your brand accordingly.

Be Authentic to Your Story: If you are positioning yourself as the friendly, hands-on operator who will care for a seller’s legacy, steer clear of overly corporate or PE-sounding names like “Capital,” “Partners,” or “Equity.”
Think About the Seller: What name will resonate with the owner of a family-run manufacturing business? It’s likely different from a name that appeals to institutional investors.
Keep it Professional and Memorable: Ensure the name is easy to spell, pronounce, and that the domain name is available.
Stick to reputable domains: A .com domain is generally perceived as more credible than less common alternatives.

How to Set Up Your LLC Quickly

DIY: File directly with your state’s Secretary of State. A full list of sites can be found at https://www.e-secretaryofstate.com/ .
Use a Service: Companies like Bizee and ZenBusiness offer free starter packages where you just pay the state filing fees. These services can simplify the process and often include a year of Registered Agent service. Paid tiers often range from $199-$299 and are worth considering as they typically bundle in critical next steps like obtaining your Employer Identification Number (EIN), providing an operating agreement, and offering expedited filing.

Your Command Center: Choosing a CRM

You need a system to track your deals and manage broker relationships. If you’re doing a proprietary search with lots of cold outreach, this will be more complex. But for a primarily brokered search, the goal is to keep track of your pipeline and remember to follow up.

Don’t get lost looking for the “perfect” system. I changed my CRM multiple times, and it was a waste of time. Just pick one that works and focus on finding deals.

Top Recommendations:

Google Sheets / Airtable: These are perfect for the budget-conscious searcher who needs a simple, flexible way to track deals without the complexity of a full CRM. A searcher chooses this for maximum control and zero cost, but it requires manual setup and lacks automation.
Pipedrive: I like Pipedrive for its visual pipeline, which makes it incredibly easy to track where every deal stands at a glance. Choose this if you want a straightforward, sales-focused CRM that isn’t bloated with features you won’t use.
Hubspot: The free version of Hubspot’s CRM is surprisingly powerful and more than enough for a search, which is why I used it. It has a lot more configuration options (which can potentially be distracting) and features behind a paywall, so as long as you can ignore those, it’s a good option.

The best system is the one you’ll actually use. Pick one and stick with it.

Your Digital Handshake: Website and Email

To appear professional, you need your own domain name and a simple website. Okay, you don’t absolutely need one, but they’re relatively inexpensive, so why not get them to help stand out.

Website

Build this quickly. A one-page site is perfectly fine. Think about your two main audiences. What questions are they asking?

Brokers: Are you a legitimate buyer? Does this deal fit your criteria?
Sellers: Are you the kind of person I want to trust with my life’s work?

Less is more here. Just get it done.

Top Options:
- Namecheap: Great for purchasing and hosting your domain.
- Carrd: Perfect for simple, beautiful one-page websites. It’s only $19 per year to use your own domain.
- Squarespace / Wix: More powerful options, but probably more than you need.

Email

Google Workspace: It’s the easiest to set up and integrates with everything. It also includes tools for scheduling and e-signatures. You can get 10% off your first year with this link: https://referworkspace.app.goo.gl/W4vx .

Your one-pager is your resume for the acquisition world. It’s a concise document that tells brokers and sellers who you are, what you’re looking for, and why you’re a credible buyer. A great one-pager will get you to the front of the line.

Here’s what to include:

Header: Your name, your LLC’s name, a professional logo, and your contact info.
Tagline: A clear, one-sentence mission. For example: “A dedicated entrepreneur seeking to acquire and personally operate one great B2B service business in the Midwest.”
Personal Profile: A brief bio highlighting your professional background and your commitment to being a hands-on owner-operator.
Acquisition Criteria: A specific, bulleted list of your targets. This shows brokers you’re focused.
- Industry: e.g., B2B Services, Niche Manufacturing.
- Geography: e.g., Midwest or specific states.
- Financials: e.g., Seller’s Discretionary Earnings (SDE): $500k–$2M.
Approach to Ownership: A short section emphasizing your plan to preserve the company’s legacy and take care of the employees.
Financing & Credibility: A statement confirming your financing plan is in place. Mentioning you are pre-qualified for an SBA 7(a) loan or have backing from experienced investors adds significant weight.
Advisory Team (Optional): Listing your M&A lawyer and accountant signals you are serious and well-advised.

Getting these foundational pieces in place will transform you from just another person “looking” at businesses into a serious, credible buyer. It takes a little effort upfront, but the payoff in efficiency and professionalism is immense.

Now that you have the playbook, what’s the first tactical step you’re going to take this week to professionalize your search?

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