Robert Hirsch from Freedom Factory, discusses whether you Should Hire a Consultant or a Business Broker to Sell Your Business?

Listen to the podcast, watch the video, or read the transcript . https://vimeo.com/389990011

Additional Videos From Freedom Factory

Seller Beware! The Big Reasons Deals Don't Close

What are the Secrets of Selling Your Business for Maximum Value?

Transcript of Podcast

Hi Robert Hirsch again, and I want to talk to you about something, which is a question that we get a lot, which is small business consultants. Should I hire them? Do I hire them before selling? And I must admit I've got a bit of a conflict on this. I was a consultant for a long time, both a management consultant as well as the liquidity consultants.

So just understand my bias before we get too far into it. So a lot of consultants have relevant experience, but what very few consultants have relevant experience in is selling their business. So what hasn't worked well that I've seen in the past is when someone has a general advisor and they're giving them general information, which may or may not help the valuation.

And usually in that handoff is where we lose a lot of value, meaning the advisor gives the advice, the company implements it, but it doesn't make any difference in valuation. So if I was to hire a liquidity consultant, I would make sure that they sell businesses full time and don't do anything else. I would make sure that they're a licensed broker and I'd make sure that they can take you from consulting before you take it on the market all the way through a successful sale. And so I would find a licensed broker and be able to do that.

The other thing that I think is pretty critical is I would make sure that someone speaks your language. For example, I've seen a lot of miscommunication when an entrepreneur tries to work with a banker and they find out that entrepreneurs don't speak banker and bankers sure don't speak entrepreneur. So find a broker that is an experienced entrepreneur that's been doing it for a long time, that speaks your language and that's going to give you the best results, which is going to maximize your sales price.

Now, if you have questions on this or anything like it, feel free to reach out to us at Freedom Factory and we'll see you soon.

Thank you so much for watching. Please like and subscribe.

Freedom Factory

Also, Follow Freedom Factory here

Best Business Brokers - video portfolio

Follow us on Twitter

Find us on Facebook.com

Connect on Linkedin

Youtube Channel

Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.