Empathy is often undervalued in the workplace, but understanding the needs of our clients and co-workers can be one of the most important skills across all sectors. If you’re in marketing, then you need to understand what influences your target audience. If you’re providing a service, then you need to know how to make your clients feel satisfied. As business brokers, we need to understand what it is like to be a business owner and what you want to achieve from buying or selling a business. Our aim is to enable you to achieve your goals, whether you’re a young entrepreneur looking for a challenge or an established business owner who is ready to retire.
How Does It Feel to Sell Your Business?
As a business owner, you have probably invested a lot of time and effort into your business. You may feel an emotional attachment to the business itself as well as a responsibility to the brand and any employees you will be leaving behind. How you feel about selling your business will also depend on your reasons for taking this step. The experience of selling up can be very different if you’re looking forward to retirement than if you’re having to sell because of ill health or other issues. Whatever your reasons are for selling or your plans for the future, it is important to work with a broker who understands them so they can help you to achieve your goals. An empathetic broker can provide the support you need while you’re going through one of the biggest changes in your life. Brokers who have experience running their own businesses will also be aware of the challenges you face when preparing your business for sale and trying to get the best return on the investments you have made into it.
Taking on the Challenge of a New Business
Buying a business can be an exciting process, but it can also make you feel anxious, confused, or unsure about the future. You are about to take on a new challenge, whether that means becoming a business owner for the first time or putting your experience to use to grow an existing business in a new direction. You might be looking for an established business that will provide a steady income or a chance to change your lifestyle. It’s important to work with a broker who understands what you want to achieve from your new business so that they can recommend the right opportunities for you. You have your own individual skills, experiences, and hopes for the future and the businesses you’re considering are equally unique. An empathetic broker will take all of this into account in order to help you to find the perfect match. Brokers who have been through similar experiences themselves or have experience helping other buyers will also be able to provide the support you need if you have any worries or questions along the way.
Choosing an Empathetic Business Broker
One way to ensure that you’re choosing a business broker who will understand your needs is to look at their previous experiences. A broker who has experience as a business owner will have been through a lot of the same challenges as you. Equally, if they were part of a company’s senior team managing a sale or acquisition, they bring other valuable experience, especially if they have previously bought or sold their own business.
As well as looking at your broker’s own experiences in business, it can also help to chat with them for a while, whether this is by phone or in person. The right broker will actively listen to you, ask questions when necessary, and try to understand your needs. Every business and every business owner is unique, so you need a broker who makes an effort to understand you as an individual.
If you are looking for advice about buying a business contact one of our local offices for advice and support.