182 – Finding the right business broker

Listen to the Episode

Using a business broker can be a huge help when selling your firm.  But finding the right broker isn’t easy. Today on the show we reveal the 5 reasons why you would want to engage a business broker.

Experience counts

You want to find someone that has real experience.  Someone that has just started isn’t for you. Ask for their credentials and make sure they are someone who can actually help you.

Specialist or generalist

Not all experienced business brokers are the same.  Many have specific experience handling the sale of specific kinds of businesses.  One may have experience with yours.

Size does matter

Selling a $300 thousand business is very different than selling a $3 million business.  They are not the same and you want to find someone with experience selling your size of business.  

Managing the process

You need a clear idea of how the process will unfold.  All the steps need to be clearly laid out by the broker before you begin.

Don’t be afraid to negotiate

The broker will charge a percentage of the sale.   Make sure they are worth that percentage and whether you are comfortable paying them that amount.

More about this Show

We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms.  Most importantly we want to help you to develop a plan to take your business successfully into the future.  There’s a startling statistic the underscores the importance of developing a solid plan.  The majority of business owners are just seven months away from losing everything.  A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly.   Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients.  We want to close that gap once and for all.  We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.

Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV.  We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with.  Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.

Start here to discover your legal risks
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