There are “advisors” and “consultants” proclaiming to have sufficient specialized training pertaining to business buying, and the education, experience and resources to guide buyers of small and midsize businesses to a successful acquisition.
Is a Fox Guarding the Chicken Coup?
Be particularly careful of "M&A intermediaries” who have not taken our training course if they claim buying expertise and they pledge loyalty to you if they are heavily involved in seller representation. You might be able to protect yourself from inadequate business acquisition advisors if you show them our Bill of Rights for Buyers of Small and Midsize Businesses, and if they explicitly tell you that they will try to honor our Bill of Rights.
- You can ask them to show (not give) you some of the tools and resources upon which they rely when they guide you through your process to merge or buy a business.
See the content of our Training Course & Toolbox for Business Acquisition Advisors. Compare our educational topics and tools to whatever is shown you by business acquisition advisors who have not taken our training. Anything less from them could mean you get less value from unprepared advisors.
Detect the Differences
Anyone can declare their experience in the business buy/sell industry to be sufficient to deliver excellent service, free of conflict of interest, to business buyers. But experience as a business broker or any other type of advisor or service provider may not be enough to adequately guide a business buyer through the entire business acquisition process.
Look for practitioners that can show you their successful track record representing or serving business buyers of the size of business you want to buy. What, exactly, is the training and resources of the service provider? What specific part(s) of the acquisition process should the service provider handle?
- Finding the best businesses for sale
- Due diligence
- Creative financing
- Pricing businesses for sale
- Dealmaking/negotiating
- Post-purchase transition into management of the company
Do not expect to get all the advice you need from any particular service provider. There is a big difference between legal, accounting, tax and business advice. One-stop shopping can put you in the poor house.
It’s a Team Sport!
Buying a business or growing one via mergers and acquisitions is a team sport. Your team members might include an accountant, appraiser, attorney and business merger or acquisition consultant. Each of these specialists sharpens your dealmaking edge.
Properly assemble your team; it does not have to cost more for specialized advice than buyers pay a single specialist when they one-stop-shop.
You can use this feature: Find a Service Provider.
Spectators: Shout from the Grandstand!
Players: Shout from the field!
- Tell us what you think.
- Share your business buying war stories.
- Suggest edits or additions to the Bill of Rights for Buyers of Small and Midsize Businesses ™.
It’s been said that nobody who has failed
complains that they got too much useful advice.
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Institute of Professional Business Buyer Advisors TM
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