Knowledge is power, and it applies so powerfully when you are looking for brokers.
Business is seldom a smooth affair. One has to navigate all shades of challenges to survive and succeed in today’s landscape. At every stage of business, you need someone who knows someone. At the inception, it is the need to scout for talent, legal work or suppliers. As one scales, the expansion plans need a different category of partners. Even when a business is wrapping up, the right conclusion and transition would require contacts that can help a business owner transcend from one level to another smoothly.
How to achieve that, especially when people, skills, and expertise can constantly be in a flux? This is where one needs to find a business broker who is not just efficient but also dependable when it comes to market resources. By ‘business broker’ we do not mean commercial or real estate brokers. Such brokers are aplenty in India and GCC. They help in buying and selling commercial or other real estate properties. But business brokers help in buying and selling of businesses and the methods they use are very different and sometimes contrarian to the usual methods of a real estate broker.
Let us now understand certain basic qualities of a trustworthy business broker first.
An okay broker Vs a good broker
It is not too difficult to find a broker at all. It is, in fact, very easy and at the hop of a finger these days. The market is flooded with brokers mushrooming all over the place and claiming their top-notch quality. The question is how to filter the signal from the noise. There is certainly no time available for a businessperson to waste on another chore when the business itself is chock-a-block with never-ending demands and fluctuations. So one would have to find a good platform, one that holds only the best. By best, we mean those brokers who do not merely reflect a big pile of contacts but create a difference because these contacts are not just a volume-game. They are a relevance-game at the end of the day. They have to fit your geography, your problem, your unique constraints, and expectations. Plus, they have to harness experience and expertise that is not shallow but deep. A platform such as Tobuz, for instance, would let you meet people who snap immediately into your need gap because of the vast experience and seasoned play they command over the years and for the precise market you are gunning for.
To add to that, a business is still a play of trust and transparency, no matter how technology-savvy we become. In the case of a broker; this aspect of honesty, references, and track record becomes all the more paramount. That’s why a platform such as Tobuz allows you to be sure of that fundamental and lets you carry on with other details.
So, how to find a good business broker?
The best and surest way to make an informed and worry-free choice is to tap for the list of referrals that your friends, family and near & dear ones can offer. This way you can be assured that the broker in question is not a stranger and has a certain stake in giving a good service to you.
2. Consult your lawyer or financial consultant
If you have a running business, you are most likely in contact with financial advisors, tax consultants, or lawyers. You have a history of transaction and trust. And business brokers who are introduced by them are likely to serve your interests better. Plus, they know your need well, so the recommendation is likely to be more accurate and helpful.
3. Online directories
Gone are the days of grinding your shoes when your thumbs are doing all the jogging in a tech-sharp era. So again, a platform such as Tobuz would be a great fit as this is where you can quickly and adequately find a range of options brimming across the online directories. These directories are replete with lots of options and also smartly arranged so that the search process is fluid and fitting.
4. Local Chamber of Commerce
Apart from the possibilities laid down above, there is always the option of availing the network of a local Chamber of Commerce or Industry in your region. This, usually, is a place that galvanizes all the major businesses and their activities for the industry at one place and serves as a rich meeting ground for people in a business. The events and communication happening under such hoods are also a great way to stay updated and equipped for the right opportunities that can spring up anytime.
5. Trade Associations
Trade circles can acquire the fabric of a proper association or a club where people can come together and work on industry issues and trends in a unified and well-thought-out manner. This is where one can bump into people who are hands-on and not just available on paper. The first-hand list is great for a certain kind or degree of business needs.
So, choices are aplenty but what would determine your own course of action is your own specific need. It is a good time to understand your business requirement and gaps better. Finding a broker is not an uphill task but in case you end up with someone who is wrong or not well-seasoned or does not pack the right balance of integrity and efficiency; then you would be easily heading downhill. You can even start by writing down your specific needs and then narrow down the kind of broker you want, the functional area, the geography etc. A quick visit to Tobuz will tell you what types of brokers are available.
Get smart and search for business decisions the smart way. Get technology to work for you. Try the Tobuz advantage and see how you can convert your business need or challenge into a crucial cog in the big wheel of your business model and journey.