The purpose of choosing a top business advisor to assist you with the sale of your Minneapolis-based company is to minimize the time on the market, maximize your profits from the sale and to have the professional advice and knowledge to prevent any possible missteps in the process.
With all these falling on the shoulders of the business selling advisors you choose, you want to make sure to get the broker that is the right match for your needs. Spending time interviewing and evaluating different brokers is always time well spent, particularly if this is your first business sale.
Access to Qualified Buyers
One of the most important roles of business selling advisors is the ability to have a network of qualified, vetted buyers that are in the market for the types of businesses they are selling.
Small, independent brokers rarely have this type of networking capability, while those working for larger, more established national firms have a much broader network with a better chance of attracting just the right buyer.
Professional Experience and Reputation
Professional experience and reputation is more than just having a specific degree or number of years in the industry. It is always good to ask for credentials and to look for professionals with designations of CBI or Certified Business Intermediary through the IBBA (International Business Brokers Association).
Many of the top business selling advisors have themselves been business owners, sellers and buyers. They have the practical, real-world experience as well as the training to be able to not just manage the sale, but to strategically plan and implement marketing that is highly effective.
Ability to Negotiation for the Best Sale
Along with experience and professional reputation comes the ability to negotiate on your behalf. Some business brokers just want to make the sale, the best in the profession want to make a sale that is a great deal for their client.
The business broker that is working in their client’s best interest is always the best choice for you as the seller. These types of professionals will provide accurate and insightful advice and ensure that you understand and are a part of decisions and plans throughout the sale of your business.
By taking the time to meet with different business brokers, you will also be able to determine if you feel comfortable and confident the broker is the right person for your business sale. Having this confidence in the broker is essential as it allows you to turn to a trusted source for advice and make decisions with confidence throughout the process.