A Business to Sell or Solve?Business Information
Posted by Frank Chebalo on
On the surface we in the industry discuss selling businesses. A business owner will come to us to talk about the sale of their business. But when you really analyze what we do it’s often very removed from selling. After over 10 years in this profession I liken what we do to a role of solving problems both for the buyer and the seller.
On the Sell Side
Quite often we hear sellers ask us about selling their business. But what we don’t always learn early enough is the reason. What I call the problem or problems. The problem is not always bad, but it is sometimes sensitive. In reality, when we learn the problem, experienced Business Intermediaries can put together a plan to solve the problem and facilitate a Transaction which in turn solves the problem.
- What does Selling a Business do for the Owner?
- Allows the Owner to trigger retirement
- Recover from a mountain of debt
- Solve the very real issue of burnout
- Allow the owner to care for themselves or loved ones
- Deal with Health Issues
The above only names a few but I think you get my point. The act of selling a business is really the project of solving a problem. So the tactics we use to accomplish the end goal varies depending upon the actual problem. Experienced Business Intermediaries, those of us that have been involved in hundreds of transactions know how to navigate problem solving, and clearly understand the sensitivity associated with the problem. Share the underlying issues with us and we will be better equipped to sell your business and more importantly solve your problem.
On the Buy Side
A similar dynamic occurs on the buyer side. They too have a problem or problems to solve. And again, just like the seller the issues are personal and sensitive. Again, experienced Business Intermediaries are equipped to navigate the challenge.
- What does Buying a Business do for the Buyer?
- Allows the buyer to achieve an income stream
- Creates Identity
- A sense of accomplishment
- A job
- Finally doing something the buyer truly enjoys
- A professional extension of a hobby
- A way to postpone retirement
Retirement is not all of what it’s advertised for many people. Some hate retirement, so much so that they talk to us about finding a business they can sink their teeth into. It gives them something to do and a sense of accomplishment. And, as in the case of a business owner looking to sell, the buyer will be much better served if they allow some time in a meeting with a professional Business Intermediary to describe the Problem. What in reality is the reason they are looking to acquire a business. Once we know that we can apply our knowledge and expertise with laser focus on the task at hand.
The bottom line is, on the buy side or sell side, do some homework and interviewing and align with a Business Intermediary with experience to assist you in the process of solving the problem, so that success goes deeper and beyond the simplified notion of buying or selling a business. All the parties in the end will be happier and better off.