Hiring A Business Broker...What You Should Know

Hiring a business broker

• Building a business can be a lifelong commitment.

·        Selling it should be the pinnacle of your efforts.

·        Many will want financial security and liquidity to carry you for the rest of your life.

·        When planning to sell, the best strategy to avoiding the pitfalls is to obtain the proper knowledge and exercise diligent preparation.

·        One way to do this is to engage the services of a qualified business selling professional.

·        Folks in this arena may have different titles such as business broker, intermediary or investment banker.

·        Regardless of what they choose to call themselves, they do essentially the same thing.

·        They specialize in selling companies.

·        Most business owners don't understand the expertise required to successfully sell a business.

·        Sometimes this causes them to question the need to engage a 3^rd party.

·        In this segment, I discuss why it may be in your best interest to hire a broker to handle your deal

·        Working with a broker or intermediary provides you with a number of advantages.

·        The skills they bring to the table can often be the difference between a successful outcome and a failed deal.

·        Selling a company takes specialized training and knowledge in areas such as appraisal, business valuation, drafting documents, marketing, advertising, real estate, negotiation, due diligence, and working with accountants and attorneys.

·        Although brokers are not really psychologists, they do know how to deal with the emotional roller coaster rides that many first time business sellers take.

·        Often business owners do not understand all the steps necessary to move a business transaction all the way to close.

·        Also, they don't realize lots of buyers are really not that comfortable dealing directly with sellers.

·        Some buyers know that one-on-one interaction with a seller is one way of getting two tickets to an emotional roller coaster ride – one for the buyer and one for the seller.

·        As a business owner, selling your company may be one the most important financial decisions that you will ever make.

·        It is a selling professionals job to make sure your business sells for its highest value, under the best terms and in a timely manner.

·        He's specially trained and has experience in selling companies.

·        It is something that he does every day.

·        Not as a sometimes endevour a few times a year.

·        An experienced broker will have a step-by-step process that is proven to get you the best price and terms in the shortest amount of time, while maintaining your confidentiality.

·        Selling a business is a life changing event.

·        One of your best strategies to avoid any pitfalls, is to engage the services of a qualified selling professional.

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