Business deals are really, really tough. A large amount of money is changing hands. Many people are involved. Schedules are fluid and frequently changing. Personalities clash. Someone is giving up their blood, sweat and tears to a complete stranger. Another person is buying themselves a job from a person they don’t know well enough to completely trust. It’s a tenuous balance to be sure.

When you buy or sell a business you might think you don’t need help, but the truth of the matter is that business deals are so inherently fragile that it can be almost impossible to see a closing table without someone in the middle. That person is a business broker, and you need a good one. 

Business brokers work as intermediaries. They are a buffer between everyone involved and are worth their weight in gold. Their job is to protect and guide the transaction from start to finish, and to keep the relationship between the buyer and seller as amiable as possible. 

People who own businesses and people who would buy a business are a tough bunch. Entrepreneurship is difficult and it takes someone with a tenacious personality and a lot of drive. Think type-A, organized and decisive. Guess what happens when you put two people with strong personalities in a room together and try to make a bunch of really big decisions? They clash. 

Why are we telling you this? If you know going in that there are going to be conflicts, that it’s a completely normal part of the process and that you have your broker to get you through – the conflicts don’t seem as bad and world-ending.

There will be a lot of moments while you buy or sell a business where it will feel like the deal is dead, like you can’t get the details ironed out, like it’s a hopeless uphill battle. The good news is this isn’t true. You can get a deal done if you prepare yourself by having a lot of patience and by getting yourself the right help in the form of an experienced and qualified broker. Your closing table is an absolutely possible miracle. 

Are you thinking about buying or selling a business and want to know what you should do when you feel like the deal has no hope of making it to the end? Would you like to know more about how business brokers work through a transaction? Ask us! Leave any questions or comments and we would be happy to help. 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com