How to Find a Good Business Broker

Anyone interested in buying or selling a business should always consult with a good business broker because they posses the know-how and resources to get the best price and help you avoid the devastating pitfalls of the buying or selling process. How do you find a good business broker? Well, you go out and look. Where? The internet of course, but asking someone who has sold or bought a business is also a good source and probably the better of the two. Unfortunately not everyone knows someone who has worked with a good business broker and must rely on the expansive web to begin a search.

You should begin your search before you commit to buying or selling a business. I once had a gentleman call me wanting advice on buying a coin laundry and we went through the process of buying the business, a few things to look out for and the general principles behind how a business is priced. After a little exchange of questions and answers between the two of us it started sounding as though this buyer had not done the proper due diligence and that he was possibly overpaying. Problem was… he was already under contract to purchase! At that point even the best business broker can’t help unless you are able to find a way out of the contract, which won’t be easy if the seller is getting a premium on the transaction.

A simple keyword search for business brokers will bring about a plethora of willing brokers but the trick is finding one that is good and easy to relate with. You shouldn’t be afraid to ask questions of the broker, i.e., “What’s your experience?”, “Do you have any credentials?”, etc. It’s always nice to work with someone that clicks with you.

Things process of selling a business and what a business broker can do for you are:

Step 1 is to contact small and medium sized Business Brokers for information about how they charge, what they charge and how you generally feel about them. Select a Small and medium sized Business Broker.

Step 2 is to work with your broker in establishing the most appropriate asking price and put broker and client understandings on paper in the form of a listing agreement. The listing price is the price you agree to sell the business if the broker brings a qualified buyer willing to purchase at that listing price.

Step 3 is to supply your broker with all relevant information about the small and medium sized business so that they can complete an offering memorandum. The broker will discreetly and confidentially make the market aware of your small and medium sized business’s availability including some general information about the site.

The 4th step is for your broker to screen and qualify potential buyers.

Step 5 is for you, with the help of your broker, to negotiate a price and terms agreeable to you and a buyer.

Step 6 is the removal of contingencies explained in the contract to purchase the small and medium sized business.

The final step is to close the transaction.

Your broker will continue to work with you after the sale with any remaining terms and/or conditions of the sale until the seller is completely separated from the business.

  • Educate you regarding the process and issues faced when selling a small and medium sized business.
  • Keeping the transaction confidential.
  • Conduct a pricing analysis to determine the best asking price for your small and medium sized business.
  • Develop an effective marketing strategy to sell your small and medium sized business.
  • Put the offering package of the small and medium sized business in front of the most buyers.
  • Pre-qualify potential buyers prior to divulging sensitive information.
  • Manage transactional details and paperwork.
  • Help establish terms of sale.
  • Assist the buyer in an effort to give the transaction the most potential for a successful closing, i.e. financing.

The most important thing you can do when you are thinking of buying or selling a business is to at least speak with a broker or two. The good one is the one that gets you pointed in the right direction. Most brokers, especially the one that will care for your business, will be happy to spend a half hour to an hour talking to you on the basic points.

Vested Business Brokers

Hiring the expertise of a vested business broker is a good strategy, especially when doing business. If you are thinking of buying or selling your business, the foremost thought on your mind is, of course, how you will be able to optimize your sale or purchase. Getting the services of a reliable and knowledgeable vested business broker can make a huge difference.

Vested business brokers act as the middlemen between buyers and sellers. They may have ready resources, such as a long list of clientele who are ready to make purchases or people who are itching to sell businesses or properties. Vested business brokers may also be in contact with a wider network that, in turn, can put you in touch with more possible buyers and sellers.

Aside from these perks, the services of vested business brokers usually include some form of promotion, like advertisements and publicity, which can speed up the sale or purchase of your item.

Business deals, such as the buying and selling of a business or property, usually includes a fair amount of paper work and can take up a lot of your time. If you do not want to be bothered by the technical details, then you can hire a professional to address your needs. Vested business brokers can take care of everything from setting up meetings, making credit inquiries and even doing your paperwork. With these people at the helm, all you need to worry about is getting a fair deal.

The buying and selling process can be complicated. Many of the business dealings involving buying and selling can be taxing. That is why you need someone reliable who will take care of your assets and your money. You want someone who is smart enough to know a good deal when he stumbles upon one and turns away from a bad deal as soon as the warning signs flash.

How to Become a Business Analyst?

There is a burgeoning demand of professionals who can effectively recognize business requirements, devise solutions and execute plans that help businesses in accomplishing their goals. Known as ‘Business analysts’, such people work in a diversified range of industries across various job profiles. The business analyst job has become synonyms with IT specialists. As an analyst, you act as a viable link between business needs and the technology which is employed in the company.

Nowadays, the scope of business is very wide. You can work with the independent firm, where you need to use your expertise on particular projects, or you can work within a particular industry, like transport or banking.

Business analyst job requirements-

While it is not an exhaustive list, but an analyst would be expected to do the following tasks-

1= He needs to maintain cordial relations with clients
2= He has to make sure that all projects are following the deadline
3= He needs to develop and present ideas to the management
4= He imparts training to technical staff

Requisite qualifications

There are no particular qualifications required to get a business analyst job, although, a bachelor degree is required for the entry-level business analyst position. Usually, top-notch companies prefer to hire candidates who have a degree in business administration. A prior experience would be an added benefit. These analysts come from different educational backgrounds. An IT background can be beneficial in certain areas.

Required skills and traits

In order to find a lucrative business analyst job, a person should possess strong technical knowledge along with communication skills. Apart from these, you should have the following traits-

1= Negotiation skills
2= Managerial ability
3= Persuasion skills
4= Analytic
5= Team building ability
6= Strategic thinking

Career prospects

As there is a high demand of analysts in industries for improving business performance, employment of these professionals is likely to increase in a near future. The majority of jobs exists with big consultancy firms and you can also explore opportunities in large companies. Business analysts, backed with expertise and educational qualification, are set to enjoy flourishing career prospects. These analysts are required in almost all industrial sectors, including pharmaceutical, banking, telecommunication, insurance, etc.

Some of the popular job profiles exist in this domain are-

1= Data Analyst
2= Systems Analyst
3= Business Architect
4= Business Consultant
5= Business Process Analyst
6= Requirements Analyst

How much can you expect to earn?

In the past few years, the salary packages of business analyst have sky rocketed. The salary package would depend on a diversified range of factors, including location, company and experience. If you are working with a leading company, then you can easily earn Rs 50,000-80,000/month. Experienced professionals with advanced degree & qualifications can even earn Rs 1 lakh/annum. The IT analyst earns perks also.

Some of the top companies offering analyst jobs in India are-

1= Infosys
2= Wipro
3= IBM
4= Microsoft
5= Google India
6= RCOM
7= Accenture
8= HCL Tech
9= L&T
10= Deloitte

An analyst acts as the savior of the company, if it is moving towards troubled waters due to the bad business practices. When a company appoints a business analyst, then it not only helps in augmenting the functioning of the company, but it also makes it easy to interact with clients.

What Exactly Is a Business Analyst, Anyway?

To start things off; let’s say that, if you where to ask ten different HR Professionals what a Business Analyst is, that you would probably get about 10 different answers. Well that is basically the problem that the emerging field of “Business Analysis” is facing. So, to get a little clarity on the matter, let’s start by dividing all analysts into the two major categories; business (non-technical) and technical. These will be the two main divisions within the title. This is not to say that one isn’t able to or on occasion required to work on both sides of the fence. This only goes to prove how confusing the title “Business Analyst” really is.

The first side of this very broad coin is the business side. This will be those professionals who apply a specific methodology to provide solutions that increase the value of a company or a business.

The opposite side of the coin is going to be the IT or Technical side. Now, this side has a basic function of applying specific methodologies to provide “technical” solutions to problems, which increases the ability of the company, which in turn increases the value of a company. Confused yet? OK, moving on.

Many times analysts are hired to not only find the problems but to also provide solutions. This is a completely different role than a project manager. As a general rule a company will acquire the services of an analyst or a firm to address a particular issue or problem that it is facing. The analyst will then go to the business, collect data, apply methodologies and principles, and create a solution. At this time a requirements analyst will assess the needs and requirements (this may or may not be included in the solutions initially provided). This information is then passed on to a Project Manger. The PM will then follow his/her proven methodologies and techniques to produce the final product on budget and on time, hopefully.

Basically to describe what a business analyst is, we have to describe the work that a business analyst does. Because it doesn’t matter if the title is business analyst, process analyst, requirements analyst, operations analyst, business systems analyst, systems analyst, consultant, programmer/analyst, etc; the only thing that makes an analyst an analyst is the systematic approach to problems and solutions through predefined methodic principles.

Just a few of the characteristics of a BA will be that the analyst;
• Works with businesses to identify improvement opportunities within processes or operations
• Gathers, documents, and analyzes needs and requirements that a business may have
• The BA solves problems that companies have

There are different organizations that create or adhere to accepted standards of practice in the field of business analysis. One of which would be the certifying agency of the International Institute of Business Analysis another would be the Object Management Group. These organizations will adhere strictly to certain methodologies that when properly employed will lead not only the analyst, but their clients, to a successful outcome regardless of current situations.

Methodologies can vary greatly depending on the disciplines of the particular analyst or firm. No single methodology is right or wrong; however do keep in mind that there are several well defined sets of disciplines that can be verified with a simple internet search. If an analyst claims to use a particular system or discipline, check out.

So just to sum everything up, a business analyst is basically defined as somebody who performs certain tasks to make your business better. Like it has been said before, if you have a problem with your car, you find a mechanic. If you have a problem with your health, you find a doctor. If you have a problem with your business, you find a business analyst.