Finding companies that are approaching transactions can be complex. But it doesn’t need to be. If your sequencing and messaging are strong, and your offer is attractive, then it could be a timing issue.
This is especially common across advisory firms that rely on SIC codes and financials to segment their market. The former is a dated, notably flawed method of defining what companies actually do, whilst the latter is a lagging indicator, making it almost impossible to get ahead of the curve.
However, even if you’ve mapped your addressable market with a 5000-strong list of companies your team could theoretically work with, it doesn’t mean they’re ready to work with you. Approach too early, and a company won’t be ready to engage. And if you’re too late, which is far more common, the company will have already signed a deal with your competitor.
In this article, we’ll outline an optimal origination workflow, explore what outreach-ready looks like in practice, and demonstrate how to nail your timing.
What an ‘outreach-ready’ origination workflow looks like
Origination doesn’t need to be a numbers game. Contrary to conventional wisdom, you want to end up with a shorter, leaner list of contacts rather than an expansive one. This is because deal origination is about timing and relevance, rather than volume.
That’s not to say that mapping your addressable market isn’t worth it. It’s the place Beauhurst clients in the advisory space typically begin. However, it’s what you do after assembling this list that matters.
Beauhurst’s outreach-ready origination workflow can be viewed across three layers:
Layer 1 — Account Basics
Define the type of companies you want to work with, including sector, size, location, and their stage of growth. Leaning into sectoral, market-cap, or geographic specialisms can help narrow your focus.
This is where most firms stop, and why they end up losing out to more proactive competitors. The problem here is that whilst, for example, a list of 500 care homes in Manchester may represent your addressable market, it lacks context and therefore doesn’t equate to useful outreach intelligence.
Layer 2 — Targeting
Next, you should narrow that list of companies to those that are structurally likely to need your services. This means complete corporate structure and ownership information, detailed investor timelines, director age profiles, and valuation history.
Taking the time to map out how each service line’s ideal client differs from the broader firm client type can be a significant differentiator here — a company that’s right for your transaction team looks quite different from one that’s right for your restructuring practice, even if both sit within the same addressable market.
The key differentiator is layering in information that can’t be gleaned from publicly available data. Think unannounced fundraisings, patent filings, and recent changes to board composition that haven’t yet made the news.
Layer 3 — Trigger Signals
Trigger signals are where timing enters the picture, and they’re the key to developing a successful origination workflow.
For example, a non-executive director in your personal network with three exits worth of experience joins the board. You won’t find this information in the press or on LinkedIn until it goes public.
If you’re an advisory firm focused on M&A or transaction services, a secret signal like this could be the difference between being first in the room or late to the negotiating table.
How the Beauhurst origination workflow works in practice
On Beauhurst, you can filter your company lists to receive notifications as soon as a company matches your criteria, alerting you to precisely the right moment to reach out.
Combining a series of these criteria, or signals, is the key to achieving a true, outreach-ready origination workflow. Here are three common ways that advisory clients use the Beauhurst platform.
