Business Broker Training & Development
The most important form of communication is not always verbal. In our interaction with business buyers and sellers, it is important to understand what they verbally tell us and what their body language may also be saying. General body language guidelines: Constant fidgeting, changing positions, touching face or hair suggests irritation or nervousness. Makes eyeRead More
There are many ways, techniques, and systems that if carried out will help protect the Seller’s (or Buyer’s) Confidentiality. A very simple one is to ask the Seller how he would like for you to contact/ communicate with him during the marketing of his business. I have found that many sellers would prefer I notRead More
One of the questions I am asked most often by other managing business brokers is; what qualities should I look for in the next business broker I hire? The following are just some key qualities to look for: Has a high degree of personal responsibility. A good business broker realizes that his success or failureRead More
When a business broker becomes an agent of a seller or buyer, either intentionally by entering into a listing agreement or unintentionally by actions, the relationship is termed fiduciary. Fiduciary duties are the highest duties known to law. A fiduciary is expected to be extremely loyal to the person to whom they owe the duty,Read More
The number one complaint from business sellers is, “I listed my business with a broker and rarely heard from him.” Communication is everything! The more frequent and effective communication you have with your seller the happier he will be with you and your company. Make a commitment to communicate at least once a week withRead More
In these challenging economic times, one frequently used phase is “from Wall Street to Main Street”. This phase has many meanings and is used in a multitude of ways to describe how what is happening on Wall Street the “stock market” affects Main Street. Each week, in conversations with Business Brokers across the US andRead More
As we begin 2014, everyone – business owners, business buyers and business brokers are asking, “Will 2014 be a good year for selling businesses?” Earlier this week, FOX Small Business Center posted an interview and article that provide some insight into the current market and answers to this question. The video, starting at about theRead More
Seller Appointment – Leave behind Package It is important that you take advantage of every opportunity to promote your business brokerage services. At the conclusion of your initial meeting with a potential seller, you should leave a package of information that will continue to convince the seller to hire you to represent his business. ThisRead More