10 Essential Traits A Business Broker Offers A Commitment To Excellence

Whether you’re looking to sell an existing business or purchase a new business, finding the right business broker to help you may seem a bit daunting.  It’s critical to do your research and background on the individual that is going to handle this very important process.  Mastering skills and attending classes, webinars, and conferences to further their education is key.  To find the best of the best person, a successful broker commits to certain decisions that help shape them.  These decisions help shape the elite broker with the right attitude and smart decision making.

“A Commitment to Excellence”

10 Essential Traits a Business Broker Offers

1. Is the business broker a hard worker?  What that means for you is their work ethic will compliment your success.  Trust between the broker and buyer or seller requires the broker to follow through on what is promised.  If they say they will list your business online in five different directories, they do it.  If they promise to call potential buyers, they will do it.  They will focus on the goals that need to be accomplished daily and get them done
2. Is the broker consistent?  Has the business broker promised to get something done and hasn’t?  Have they been in contact with you on what’s happening with the buy or sale of a business?  Are they doing it and producing the desired result?  Working together for the common goal is make the process go smoother and possibly quicker.
3. How is their self-respect?  When a person demonstrates self-respect on how to sell a business or buy a business, they must treat those they work with respect not only for themselves, but everyone involved with the process.  There is a saying “Get things done today to ensure a successful tomorrow”.
4. Could the broker expand?  Thinking big and never being satisfied with the mediocre.  This type of broker will search and find the right clients, offer solid advice as well as share the best options for your type of business.
5. A risk taker.  Encountering a fearful, negative broker that quickly shuts you down or walks away from bright ideas could cripple the timing of a sale or purchase of a new business adventure.  To be successful, the broker is a risk taker, and he/she will be willing to see what the consequences of your decisions might be.
6. Extremely passionate about what they do and offer.  So many in the industry look at this “job” as sedentary.  When someone has passion about what they do they will spend most all their waking moments learning how to help business owners, learn how to offer sound advice for the sale of a business and attend functions to elevate the knowledge.  When passion is present, limitations are virtually nonexistent.
7. Develop relationships. Decisions about who to work with are elements to building a successful business. Make sure you go through the interview process to find the match.  When you find the right broker, the process will move smoothly and easily.
8. Brokers that give back. A commitment to excellence could be finding a way to do more for others.  What charities are they involved in?  What opportunities do they volunteer their time, resources, and/or money?
9. Checks and balances. When a broker delegates a task to a team member, will it be completed in a timely manner?  The moment a broker takes on every task and says they can do it all on their own, this is where many things get lost in the shuffle.  An elite business broker is aware of their own strengths and weaknesses.
10. What kind of ratings does the business broker receive. When surfing on the internet, everyone always looks first at the ratings, 5 stars, to 1 star.  A commitment to excellence for elite business brokers will always be in the 4 – 5-star rating.  Remember no one is perfect, however, if the broker promises something they need to deliver on that promise.

Being successful in life and business demonstrates a commitment to excellence. The success of the sale or purchase of business reflects on your decisions, attitude, and thinking. If the business broker isn’t where you want them to be find a better committed, passionate broker to fulfill your dreams.

Bill Nicholson is a business broker with all these characteristics. He is ready to help you today!

Bill Nicholson is the owner of Sunbelt Business Brokers of Dallas Metro. He has over 20 years of experience as a business owner and managing business transactions. As a seasoned intermediary, Bill has successfully represented companies in a broad range of industries helping business owners achieve their desired exit strategy or growth initiative.

Bill is also owner of Exit Strategy Advisors, LLC, a middle-market focused, M&A advisory and investment banking firm.  Finally, he is the owner of Blueprint Realty, LLC, a commercial real estate (CRE) brokerage firm serving clients in Dallas/Fort Worth for almost 20 years.

Previously Bill has been involved in several entrepreneurial ventures as well as having held corporate roles including chief operating officer (COO) for a boutique law firm in Dallas.

Bill is a graduate of the University of Arkansas with a degree in Mechanical Engineering, a graduate of Stanford University with a master’s in Mechanical Engineering and has earned his MBA from UCLA. He has received the Certified Main Street Business Broker (CMSBB) certification, has received the Certified Exit Planning Advisor (CEPA) designation, and is a licensed Real Estate Broker in the state of Texas. He has been affiliated with several organizations including a board member of the Texas Association of Business Brokers (TABB), a member of the International Business Brokers Association (IBBA), membership in the M&A Source, and membership in the North Texas Chapter of the Exit Planning Institute.