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A Brokered Sale – Not a Broken Sale

Guest: Barbara Taylor, Synergy Business Services. LLC

Featured Topics: Business Brokers – How to find and hire a business broker

A Brokered Sale - How Business Brokers help you sell your business This episode (part A) delves into one of the avenues of selling a business; working with a business broker.  There are many exit or transition options such as selling a business to either an external buyer or senior management, creating an ESOP, Gifting  to the next generation (Succession planning) or selling to a Private Equity Group (PEG Recapitilization. These are the main business exit options that will help a business owner get unstuck from their business.

For most small businesses with values of under $5 Million the most common option is to hire a business broker to facilitate the sale of a business.

Part A of this two part conversation with Barbara Taylor concentrates on how to find and hire a business broker. We discuss the issues about business brokers that Norm Brodsky wrote about recently in Inc. Magazine.

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Terms/Concepts

Business Broker, ESOP, Management Buyout, Mergers & Acquisitions, Investment Banker, Due Diligence

The Big Picture (Episode Feature) Question

How have you hired your key business advisors? What process do you use to ascertain that they have skills you need, speak your ‘language’ and will be there for you when you need them most? Use this same process to hire a business broker. So much of your business wealth and financial future could be riding on this decision.

Featured Guest Information

Barbara Taylor Co-Founder
Synergy Business Services, LLC
http://synergybiznwa.com/
Rogers, AR 72758
(479) 254-7887 phone
(479) 254-6857 fax

Tip/Offer of the Week

Keys to finding and hiring a business broker for the sale of your business.

  • Get referrals from your business associates and people you do business with
  • Contact trade associations and other business owners who have sold or bought businesses
  • Contact the IBBA, AMMA or BizBuySell (see links below)

Links Mentioned in the Episode

Norm Brodsky – Inc. Magazine Article on Business Brokers

IBBA – International Business Brokers Association

AMMA – Alliance of Merger & Acquisition Advisors

BizBuySell – www.bizbuysell.com

Additional Reading

Read Barbara Taylor’s New York Times blog: Transaction

 

Exit Strategy Book

Exit Strategy: The Art of Selling a Business: The Vertical Horizontal Selling Method 
Sheldon Manheim

 

 

Exiting Your Business Protecting Your Wealth by John Leonetti          Exiting Your Business Protecting Your Wealth
John Leonetti

 

 


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Joel Goobich is a big-picture guy with sharp insight into how individual parts make a strong whole. He has 30+ years of entrepreneurial endeavors; starting, building and exiting businesses. He is tireless in the pursuit of solutions to boost your business and put you on a track to a profitable transition and exit to your next act.