What do Ryan, Cuban and the Texas Rangers have that you don’t?

As a business owner, having buyers bid on your company would be a great situation to be in. Being that most sellers don’t have the benefit of a Federal judge ordering an auction, you have to rely on the methods a good broker can use to help your business find its way to the auction block.

I have yet to see a situation where a broker simply lists a business and sets a date for the auction to begin. But surprisingly, that’s the way many sellers and brokers expect the process of finding a buyer to actually work.

The reality is that creating an “auction-like atmosphere” takes a tremendous amount of effort, professionalism and time. It’s not by luck that multiple buyers find themselves in a bidding war for a company – it’s by design.

There’s a simple formula I have followed over the years that helps foster the ability to create bidding situations for my clients.

List Quality Businesses

This may seem elementary, but if you’ve spent any time researching businesses for sale, you know there are a lot of bad businesses on the market. When I evaluate a business there are two things I’m looking for – profitability and marketability. A business needs to be making money, and it needs to posses some unique characteristics that separate it from other companies for sale. Listing quality businesses is the obvious first step towards generating the interest of multiple buyers.

Market Them Effectively

Anyone can market a business listing – it’s not difficult to find a place to post a business for sale. But if that’s all there was to it, there wouldn’t be thousands of businesses that are going unsold. Understanding how to market a listing is key to creating qualified interest from good buyers. An effective marketing program provides buyers with accurate and complete information about a business in a timely manner, while protecting the confidentiality of the seller. The more impressed and excited buyers get about a business, the more likely it becomes that I will receive multiple offers.

Treat Buyers with Respect

If a buyer is taking the time to search and inquire into possible business acquisition opportunities, then he certainly deserves to have that effort reciprocated by a broker. Nothing is a bigger turn-off to potential buyers than making things difficult. My philosophy is to make it easy for buyers to buy, and I do that by respecting a buyer’s time and effort. At the end of the day, only one buyer can buy a single business. So the ability to have a database of good buyers who know I will treat them with professionalism is invaluable when I am marketing new listings.

Act with Integrity

I’m a firm believer in the idea that reputation can either be your biggest asset, or most detrimental liability in business. In this world of selling companies, especially, acting with integrity is crucial to long-term success. If your reputation in the market and your personal interaction with buyers has been positive, there is a much greater likelihood that a buyer will have the confidence in the business you’re representing to get himself into a bidding situation on that company.

Not every business is going to generate a bidding war, and some may not receive multiple offers – but by following this relatively simple process I can confidently say that Huntington Business Group gives your business the best opportunity to be sold to the highest bidder.

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About Dallas Business Broker

Jeremy comes from a long line of entrepreneurs – his great-grandfather ran a Dallas dairy farm at the turn of the 20th Century, his grandmother founded one of Dallas’ oldest private schools in the 1950s and his parents started a specialty advertising firm in Garland in 1982 that is still in operation today. So it’s no surprise that Jeremy would find himself working directly with business owners today. He understands the unique challenges business owners face and knows how important business transaction services are to their futures. Jeremy’s education, creativity and experience, along with his straight-forward, meticulous personality are all keys to his success. Prior to Sigma Mergers & Acquisitions' ending its contract with VR Business Brokers, the world’s largest business sales franchise organization, and becoming an independent firm, Jeremy became one of the most decorated and successful agents in the 35-year history of that franchise. Starting in 2007, his first full year with Sigma, Jeremy was named VR’s No.1 worldwide agent – the first “rookie” to achieve this prestigious feat in franchise history. He finished No.1 a second time in 2013, becoming the franchise’s only repeat winner. And in 2014 he was well on his way to another No.1 ranking before Sigma ended its franchise relationship. Jeremy was also a top-ten agent three other times, and received the franchise’s quarterly National Victory Register award 25 times in 33 quarters. Jeremy graduated from Texas A&M University in 1998 with a B.S. in journalism and a marketing minor, before earning an MBA from The University of Texas at Dallas in 2003. Prior to joining HBG, Jeremy spent seven years at KRLD NewsRadio 1080 and the Texas Rangers Radio Network in advertising sales and sales management, then served as vice president of accounts with Reef Securities, an oil and gas broker-dealer. Jeremy is also a licensed real estate salesperson in the State of Texas.
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