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A business broker needs to develop a comprehensive understanding of his or her role in the sale of a business. The current model, in far too many instances, is that someone recruited into the industry is shown the ropes by being exposed to what other brokers are doing. Little or no training is achieved as it is a “hotbed” for recycling bad, antiquated methods, by some cynical survivor in the industry. It becomes a “sink or swim” eventuality. Furthermore, this position is aggravated by the remuneration archetype universally practiced in the industry. It leads to a high contrition reality.
I am in favour of the development of brokers through exposure to the rigours of reality. This is supported by my experience doing my military training where, I was exposed to the adage: Train Hard: Fight Easy. (Let me remind you that this was not a movie and we were at war).
I believe this motto. You may argue that I imbibed it in the vulnerability of a unique physical and mental military extreme and that there might be truth in the possibility that the words were used as a justification for formalised abuse. However, these considerations do not change the certainty that underscores my understanding of the value of training to a business broker. Such training is a personal obligation of each individual broker and will often supersede the brokerage’s efforts.
Initially, the most important grappling will be associated with the role that you play in the sales process. This will help you formulate your responsibilities and provide you with a focus point for your training. It is my experience that there is a lot of training available but few of the trainers understand our industry. Few in the greater community, understand the need to manage divergent and antagonistic perspectives that need attention to effect the sale. However, each opportunity for training will provide you with gleanings that will enrich your abilities. Please note, you will be required to invest financially. (You should not expect anybody to separate with a lifetime of experience and knowledge without them being compensated financially, especially if you are going to benefit from that input). To pay someone for their knowledge is a measure of your respect for that person and is an acknowledgement of the value of that information. It is an investment in yourself and your personal brand. Furthermore, it is a method of fast tracking your personal growth and the growth of your business.
Your training needs to be measured, deliberate, continuous and about knowledge pertinent or translatable to your industry rather than non-specific qualifications. The Australian Institute of Business Brokers (AIBB) excels as a provider of useful focussed training to the business broking community. It should be the core supplier to your broking needs.
In selecting a broker Do not abandon sound business principles and do not approach your business broking with the mentality of an employee. As in all business your understanding and the implementation of the sales and marketing process is paramount to your success. Business is not a tack on, it is a lifestyle. That is how you should approach business broking. It requires dedication, tenacity, integrity and hard training.
If you are looking for someone to handle your Queensland based business sale, you will find that ABS Business Sales is keenly focused on training and professional development. We are held in high regard in the industry and encourage you to call us as we have Trained Hard to Fight Easy in your business sale.