|The Business Brokerage Industry's
Leading Newsletter: "The Business Broker"
||Edited and Published by Mr. Tom West,
Founder of the International Business Brokers Association
12 Issues per year
The Business Broker, edited and published by Mr. Tom West
The Industry's leading Newsletter informs, educates, and keeps its readers aware of what's happening on the business brokerage scene. Over the years, this newsletter has introduced new forms, checklists and ideas that are now an integral part of the business. Many business brokers have increased their sales success and their bottom-line profits as a result of the sage advice packed into every publication. It is truly the voice of the business brokerage industry and is must reading for anyone involved in the business. The Newsletter is edited by Mr. Tom West, arguably the most knowledgeable business broker in the United States today!
The following is a short excerpt from a recent issue of The Business Broker Newsletter....
State of the Industry
Every year at this time we attempt to write an industry outlook or provide some information to prepare our readers for the coming year. For the past few years we have titled the January newsletter either "Industry Outlook" or "State of the Industry." The latter sounds a little pompous, but that's exactly what we attempt to do. In 1991, for example, we did a "Dear Business Broker" letter. Those of you who were around then may recall that 1990 was not the best of years in the industry, so we wanted to do something a little up-beat. In 1993, we devoted the whole newsletter to a quiz that we hoped would point out what it took to be successful.
All-in-all we try to make the January newsletter something a bit different and hopefully prepare you for the coming year. This year will be no exception. Since we conducted an industry survey in the Fall of 2005 (the results were published in the October issue) we thought we would review the completed questionnaires to see if we could find a common thread on why some offices and/or sole practitioners were successful and others were not. Was the common thread: age, years in the business, geographical location, the population of the area in which the office was located, or some other factor?
The second portion of this month's issue will be a report from a very successful business brokerage firm. One that did over a $1 million in commissions for the year. Perhaps by reading this story we can learn what we didn't get from the statistics. In most cases it's what the numbers don't show or what lies behind the numbers, in other words the make-up of the owner/manager, that tell the real story of why one business brokerage office is successful and another isn't.
First, we had to define what was success. No easy task. Let's talk first about the sole practitioner business broker. Although success is usually thought of in dollars, we suspect that some of the sole practitioner business brokers made a lifestyle choice rather than a financial one. We have reported in past issues that it appeared that many experienced business brokers left the hassles of running an office with.........END OF EXCERPT.
About the Editor
Mr. Tom West has written or co-written numerous books including, "Business Brokerage Basics," the "Business Brokerage: Managing For Profit," the "Complete Guide to Business Brokerage," the "Handbook of Business Valuation," and the "Business Reference Guide." He is a founder, past president, and former executive director of the International Business Brokers Association (IBBA). He is a frequent lecturer and seminar leader. Mr. West is probably the most knowledgeable individual in the country today concerning the issues of buying or selling small to mid-sized businesses.
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