Mastering the Art of Discovery: A Role-Playing Game for Business Brokers

As a business broker, your ability to navigate conversations with sellers is crucial to uncovering the right information and securing deals. But how do you sharpen your negotiation skills and improve your ability to read sellers? Enter EXIT – The Role-Playing Game, a training tool designed to elevate your discovery meetings and negotiation strategies.

Click here to download our ROLE-PLAY PDF!

Why Role-Playing Matters for Brokers

The success of a deal often hinges on your ability to connect with sellers, understand their motivations, and identify potential risks. Role-playing allows brokers to:

• Develop stronger questioning techniques

• Adapt to different seller personalities

• Uncover critical deal details

• Improve their ability to establish trust

How the Game Works

This interactive exercise places brokers in realistic seller scenarios to simulate real-world discovery meetings. Here’s how it works:

1. Setup

• One player acts as the Business Broker (the buyer), while another plays the Seller (the business owner).

• The seller receives a Personality Card and a Deal Details Card, which outline their character traits and business details.

• The only information shared upfront is the type of business being sold.

2. Gameplay Phases

Phase 1: Initial Introduction

• The seller provides a simple business type statement (e.g., “I own a restaurant”).

• The broker initiates the conversation with open-ended questions.

Phase 2: Discovery Process

• The broker asks targeted questions to uncover:

• Reason for selling

• Financials

• Business operations

• Key risks

• The seller must stay in character based on their assigned personality traits.

• The broker takes notes without using pre-set forms or prompts.

Phase 3: Closing the Conversation

• The broker summarizes key insights.

• The seller fills in any missing details.

• The broker attempts to identify the seller’s personality type.

• A follow-up meeting is scheduled to discuss next steps.

Scoring System

Points are awarded based on the broker’s ability to uncover business details, identify seller personality traits, and successfully schedule a follow-up meeting. The broker with the highest score wins!

Key Takeaways for Brokers

• Practice makes perfect: The more you role-play, the more prepared you’ll be for real-world scenarios.

• Reading sellers is crucial: Identifying personality traits helps tailor your approach and build rapport.

• Better questions lead to better deals: Mastering open-ended questions helps you uncover valuable information faster.

Elevate Your Skills with Legacy Broker Academy

EXIT – The Role-Playing Game is a powerful tool for brokers looking to refine their discovery skills and close more deals. Whether you're new to business brokerage or an experienced professional, practicing real-life conversations will give you a competitive edge.

Want to take your skills to the next level? Join Legacy Broker Academy and start mastering the art of negotiation today!