Burnt out on navigating the sale of your firm? A business broker may be exactly what you need.
Business brokers may not be magicians, but for the overwhelmed, overworked business owner, working with a professional who knows the ins and out of the industry can seem like magic. A broker with the right qualifications can take the process of selling your business from mind-numbing and frustrating to a pleasant, positive experience. If you are considering bringing a business broker on board, keep an eye out for these characteristics that will create an efficient (and stress-reducing!) experience for all:
1. Friendly and Inviting
The ideal business broker will be personable from the start and will make you feel comfortable. After all, selling your business is an emotional ordeal! They will be able to discuss your goals for the sale during conversations and advise you on timing and price.
If you feel like the broker is charismatic and open to hearing your thoughts and desires for the sale, then begin to ask questions so you can understand their process better. Not only should a business broker be well versed in the market, but they should also be taking your needs and concerns into consideration. Find someone that can do both!
2. Well Connected Locally
Good brokers are connected to the local business world, which means they are tuned in on the right timing for selling your company. Local regulations and regional appeal are just a few of the reasons that your broker should be “in the know” about what is happening in your area.
Once you begin the sales process, your business broker will be at your side to negotiate, help you prepare paperwork, advise you on the pitfalls and misconceptions of selling a business, and much more. Having them familiar with the local culture and business processes provides a major benefit when selling your company.
3. A Great Track Record
Anyone can talk the talk, but you need a business broker who can walk the walk. It can be very beneficial to take a look at your broker’s past track record. The right fit will provide a smooth sales process and can help you navigate unforeseen issues, and they will have the experience to back it up.
Google your business broker, and take a look at their website. How do past clients feel about their work? This will give you a fairly thorough understanding of who you are hiring, and if they are a good fit.
The Right Business Broker… for You
Keep in mind, business brokers aren’t one size fits all. Make a list of your goals and find a broker that matches your needs. Then, choose someone who will put your mind at ease and make you feel confident in the sale of your business. The result? A profitable solution for selling your business and fewer gray hairs for you!
Still have questions? Reach out! Ensuring your selling process is as smooth as possible is top of mind for all of us at iKadre.