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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 monthly issue. 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 issue either "Industry Outlook" or
"State of the Industry." The latter does sound 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 issue to a quiz that we hoped
would point out what it took to be successful.
All-in-all we try to make the January issue 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 2001 (the results were published 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 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 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 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. Although success is usually thought of in dollars, we suspect that some of the sole practitioners 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," and the "Handbook of Business Valuation." 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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