Here at Isis Business Brokers, we are involved with a wide range of clients, and see many issues which arise on a day to day basis. Recently our Senior Broker, Dominic, was called out to a consultation with a business owner's family. The business is fundamentally sound, with strong turnover and profit margins, and a good client base. The only problem is that the owner has suddenly been struck down with a serious illness, which is only going to get worse as the months go on.
The owner is becoming seriously distressed, as he's grown and managed the business for the last 20 years, but is finding it increasingly difficult to manage the simplest of tasks. We have been brought in to sell the business, but immediately found that there were no systems or planning in place for this eventuality. Replacing the owner isn't impossible, but the urgency of the situation has almost put what should be a strong business to sell into a fire sale situation. An inexperienced broker might have been tempted to simply slash the sale price, but we worked closely with the family to find an alternative and make sure that the business owner could get the value that he deserved.
Later in the week, our LinkedIn marketing efforts were rewarded, when we discovered a gentleman who used to represent sporting goods companies during negotiations. Through this contact, we have been introduced to two high quality leads, one in sports management, the other in golf equipment manufacture. Both of these were immediately contacted about another of our clients who is selling a high end golf brand, with the hope that they, or someone they know, might buy the brand.
We're never sure where our next lead is going to come from, and no two clients are the same - so we make sure we're always researching new avenues to help our clients and develop our network. Make sure you and your business are keeping an eye on the periphery of your sector - failing to do so could mean failing to keep ahead of the competition!