7 Tips For Selecting the Best Small Business Brokers to Sell Your Business

Are you thinking about selling your business? Have you ever gone through the process before? Are you confidant that you can do it yourself? Where would your time be better spent, running your business at peak performance while trying to sell it, or focused on the advertising campaign, networking, negotiating, and coordinating the closure of the sale of your business? Maybe you should consider doing what you do best, running the business, and search out small business brokers and let them do what they do best, sell businesses. If you go that route, here are 7 tips to choosing a business broker that makes sense for you.

1. Don’t get lost in the shuffle

You want your broker to have a proven record and a great reputation but you don’t want the organization to be so big that your deal is passed off to a junior staffer. You want the active involvement of the principals.

2. Do your due diligence

You’re about to engage the services of someone that is going to have a big impact on your financial life. Make sure you are comfortable with the relationship. Check with the International Business Brokers Association and see if your broker is a member in good standing. Follow up on the references provided and determine just how satisfied past clients are. Check with your local better business bureau and see if there are any unresolved complaints.

3. Use a specialist

Real estate agents and other professionals sometimes hold themselves out as business brokers on a part time basis. You want someone who makes their entire living selling businesses full time. Preferably somebody who has experience in your particular industry and someone who can point to successful sales they have made for your competitors.

4. Avoid heavy up front fee structures

Typically a business broker will charge between 10% and 15% of the sale price as a fee. While it is customary for them to ask for some up front fees to initiate the process, avoid those brokers who are looking for greater than a third. Also make sure that the up front fee is deductible from the sales fee when the business sells. Following this advice will save you from having to invest a ton of cash before you actually sell the business.

5. Only contract for the business selling services

Smaller business brokers will offer accounting and legal services that you will need during closing for an additional fee and these services are typically outsourced by the broker. It may be to your advantage to contract for those services directly leaving the broker with only the requirement to focus on the selling process and not generating add on fees.

6. Share your expectations

Before you select a broker you should have at least a general idea of what you want to accomplish by selling your business. You should have a rough valuation number and you should know if you want a cash sale or stock. Share this with the broker and see if he agrees with your plan. While there probably will be differences in valuation, your broker should be in tune with the rest of your objectives. If he’s reluctant or believes that it will be difficult to achieve your goals, find another broker.

7. Keep the whole process confidential

The last thing you want to do is let the word that you are seeking a business broker or that you are in negotiations with a buyer leak out. Once it becomes common knowledge that you are selling, your relationships with your employees, customers, vendors and bankers could be adversely affected. Have an exit plan for after the sale that includes sharing the news with all those listed above.

Using business brokers to help sell a business is usually the smart route to take for any business of substance. You want your organization to have as much “curb appeal” as possible during the process and that means you should be focusing your time on optimizing the business not chasing down buyers.

Small Business Solutions for Facing the Challenges of the Market

You have taken the step, no, the giant leap in your life – launching your own business. Now your dream is floating out there on the big bad sea of competitive business; dodging sharks, swimming in the space between the giant whales and gobbling what nourishment you can. It is a scary place to be but also exciting, can you make it in this jungle? Does your business have what it takes? Now is the time to remember one of life’s most important lessons. Never be too afraid to ask for help, small business help to be specific.

Let me introduce you to the concept of small business solutions. I am talking about optimizing every aspect of your company, of boosting your performance from surviving to thriving. You need solutions tailored to the requirements and factors unique to your business.

Among your most important resources is the human resource. Developing your staff and identifying future leaders and innovators is critical to the growth of your business. Get help to enable your employees to grow. Human Resource (HR) operations are essential to the smooth running of your company. The solutions can streamline these processes for you. Automate much of your HR operations, especially payroll. This will save time and resource on HR, which are better spent in other avenues to improve your business. Build loyalty and word-of-mouth publicity among customers by using small business solutions to develop and advance your customer care service to new levels of excellence.

Use Information Technology (IT) to your advantage. Go online and connect your staff. It can integrate and adapt processes to maintain quick and easy communication between your employees, reducing risks and costs while improving efficiency. You could use small business help in finding the cheapest sources of the best supplies. Improve your procurement procedures by engaging in online bidding. Develop processes to ensure terms and conditions of your contract are being met.

There are solutions to accelerate your financial closes and customer to cash processes. Do not hesitate to get small business help in managing your cash resources and liquidity, carefully handling your sensitive assets and protecting your business from risk, all while staying within compliance standards.

Small business solutions will revolutionize the way you operate. They will improve your company’s performance on every level, allowing you to make decisions and take up challenges with confidence.

There is always solution for any problem; just we have to find out that. But when problem arises we can’t think positively. That time consultancy shows the solution, a positive way to go ahead.

VoIP Small Business Solution

Many small businesses tend to lag behind their larger counterparts in their use of new technology. Those that do may be doomed, not only to remain small and fail to realize the growth that their initial potential may have promised, but also to lag behind their smaller competitors. In fact a VoIP small business solution can not only save small businesses money, but also significantly increase their communications efficiency.

It is a proven fact that technology can contribute a great deal to growth, irrespective of the size of the company involved, and even a single VoIP network can give a small business a competitive edge.

Not only can a small business VoIP solution dramatically reduce the size of a phone bill to the company concerned, it can also help to reduce the phone bills of their customers. A VoIP subscriber can select any area code it wants to use, so that if the majority of their customers operate from New York, the business can offer these customers calls at the local rate, even if that business is located in Los Angeles.

In fact this type of small business solution to communication costs can allow them to offer toll free numbers to their more important customers, a service hitherto only economically feasible to larger companies. How’s that for a competitive edge? In many businesses image is everything and this VoIP small business solution to competing with the big boys is a massive incentive to adopting this new technology.

This is not all that a VoIP small business solution offers, however. There is also the advantage that the provision of VoIP telephones to sales personnel allows them to communicate with head office, and every other company employee issued with a VoIP handset, free of charge irrespective of distance.

Because the VoIP small business solution to telecommunications, like all other VoIP applications, involves communication via the internet, such communication can be made using software and hardware suitable for IP use such as PC, laptop, palm computers, PDAs, Bluetooth and any other technology suitable for packetized internet transfer and reception. By use of VoIP small business solution technology, small businesses can at last compete with networked corporate companies in speed and flexibility of communication.

Conference calls integrating other web-based voice and video presentation technologies can be arranged at the click of a button, and customers can be impressed with corporate technology at small business prices.

A VoIP small business solution is available for any medium to small company structure, and simple networked systems can easily be incorporated due to the intrinsic internet and web-related technologies involved. This makes facilities available to small businesses which previously had been the domain only of the large corporations that could afford them.

With a customized VoIP small business solution, companies of any size can tick off communication as one more step towards not only competing with large corporations, but getting ahead of their peers with respect to communications efficiency, image and speed of response to requests and enquiries.

After all, if you can communicate with a colleague in Japan quicker and at lower cost than your competitor can with Boston, what chance does he have? A VoIP small business solution designed specifically for you can achieve this as standard – it is not an expensive option!

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