So, You’ve Decided to be a Business Broker eh? business brokers mergers and acquisitions smb
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- čas přidán 6. 09. 2024
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Paul’s journey to learn the Jedi arts…
Paul reached out to me to find out where he needs to go in order to learn about the trade of business brokerage.
I take some time to review the experience, skills and resources any person would need to be successful as a business broker.
With particular attention to how and from WHOM you should gain some real-world experience.
Check it out in this week’s video: • So, You’ve Decided to ...
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business brokers mergers and acquisitions smb
Great video David and thank you for putting out this information. I fully agree with you on the skills necessary to be successful in the industry. Having the skills that you mentioned, ability to go 12-18 months before collecting checks, and a commitment to education in the field are important factors to consider. The other big key in my opinion is a full time commitment to the career. It's very helpful but not mandatory to have experience as a business owner. Also, I'm part of a franchise and believe that was a big factor in my early and continued success.
Yes, the franchise gives you instant access to a network of mentor/peers to compare notes with. I found this to be a huge asset when I was in the business. I had a Sunbelt franchise.
I'm way down here in New Zealand and after selling my own business (through a qualified business broker), he the broker recommended this profession to me - as did my accountant. I ordered your book through Amazon. Thanks for a truly excellent presentation, David.
If you've got cash in the bank from your exit, you may be able to survive the ups and downs of the cash flow.
This is great information and quite a contrast from your video from 7 years ago. I have been approached by a business brokerage firm and will be doing interviews soon. Your advice of finding or determining if a firm is of any considerable quality is spot on! Are there lists of reviews of the business brokerage firms operating in the United States that I can reference?
Not that I know of. I would ask for buyer and seller references.
What to do if someone has none of the background that you have mentioned, except for a business degree and deep passion for technology. Where could someone like that start?
Maybe get involved in a technology-related business?
I was selling an online maid service, (Maid Finder Service (Family, Commercial & Airbnb) and started considering brokering.
Many business brokerages recruit new brokers from amongst their sellers. Experiencing the process is certainly helpful.
International business brokers association? What are the best industry resources you recommend?
Yes, and Business Brokerage Press.
Can you put in the comments the books you recommend on how to sell a business? Or your own business? Thanks!
See all the books I like at www.amazon.com/shop/davidbarnett
Appreciate your vídeo .TKS
My pleasure!
I’m currently in GA and currently being recruited by First Choice Business Broker in Atlanta. I’m currently a Teacher but I’m also working on my real estate License; then I’ll be able to work under the owner. What do you think of First Choice Business Brokers
I've had no contact with them nor seen any of their work. I'd suggest asking for references from buyers and sellers and then asking thos entrepreneurs about their experiences.
Have you joined with them? I've been looking at them for a few months
@@jasminehicks2525 Hello, Yes 🙌🏾 I did and I love it. I had to do lots of training and I plan on working hard to get my own franchise territory.
Thank you for your content! What platforms do you use for marketing?
I use CZcams. Are you talking about what would work for a business broker? I always had my best results from invitation cards taped to the doors of small businesses on Sunday evenings.
What professional associations or resources are best in this industry? Thanks!
IBBA in my opinion, also regional orgs like in Texas or California or New England.
Hello sir I've been going through your videos looking for how to become a business broker and i came across this one and my question is that what if you dont have any background in the things you mentioned but i still want to become or start my broker what do you suggest
I suggest you work on relevant skills in jobs that will pay you. That way you earn an income while developing yourself. There is no paycheck, usually, with being a business broker. Just a commission when you do a deal.
Or you can contact me and let see what your real name purpose is in your life.
Pp@@DavidCBarnett
What is a recommended due diligence process?
For what? being a business broker or buying a business?
India se he koi😉
Ibda?
IBBA.org
Have you heard about Vested Brokers?
Two people in my Business Buyer Adventure program have dealt with them in looking at businesses for sale. So, I've heard some things. As with most 'big name' brokerage setups, it really still matters who the individual is you're dealing with.
Would you recommend buying into a Business Broker franchise or trying to learn and do it on your own?
It's a tough business to learn in isolation. At the very least you want to be a member of an organization where you can have peers to call upon such as the IBBA. The challenge is finding business owners who will let you learn this business while handling their file. Most successful business owners want to deal with an experienced professional.
Why did you stop business broking?
Do you differentiate at all from a commercial loan broker or do you pretty much broker the loan as well?
I did when I was a broker, but I know many business brokers who refer buyers out to loan brokers.
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