CHOOSE YOUR BROKER WISELY
Sally Stuart
Business Sales Specialist M. 0437 082 045 E. sally.stuart@linkbusiness.com.au linkbusiness.com.au
1. WHY YOU SHOULD TALK TO A BROKER – EVEN IF YOU’RE NOT READY TO SELL Renewed focus on your Real Business Profit Talking to a broker will give you a renewed focus on your business profitability. When you understand that each $1 of your real profit will become $3 or $3.50 at settlement time, it will highlight in your mind why you need to be focused on maximising your bottom-line profit! 8
From this initial conversation, you might take advantage of the next three years and engage in a business development consultant, to ensure that you are really doing everything possible to maximise the profitability of the business. These are the years that the financiers and accountants will refer to when they are giving advice to their clients and approving, or declining, their finance applications. Finding the best broker for you and for your business If you talk to a number of brokers, you’ll get an understanding of ‘who’s who in the zoo’, which will allow you to make the best choice when the time comes to engage with a broker who you feel you’ll be able to have an ongoing relationship with and is best suited to the sale of your business. Initially, a business owner may not realise that there are specialist brokers who can better support the sale of their business. Many brokers are in knowledge of each
other, through industry bodies such as the Australian Institute of Business Brokers, and will be able to refer to one of their colleagues who they know is a specialist in your field if they feel that they are perhaps not the best broker for your industry/business. Selling a business is like running a marathon, it’s not a sprint, so you need to find someone you have confidence and trust in to do the right things by you at every step of the sales process. 2. CREATING AN EXIT STRATEGY THAT WORKS. Life doesn’t always go to plan and we never know what’s around the corner. As a business owner, it is so important to ‘Expect the best, plan for the worst, and prepare to be surprised’. To that end, it is important for business owners to have a range of strategies up their sleeve to tackle all that life throws up. Exit strategies might include a sale to someone that is already
