What do a business broker and the conductor of a symphony have in common? Surprisingly, more than you think. Explore the similarities through this video titled “The Professional Business Broker and the Conductor of a Symphony” and learn how both roles serve to get the process to its final destination flawlessly and smoothly.
There is a great parallel between a symphony and the successful sale of a business.
Creating a great symphony requires more than simply having the right instruments.
It requires a great composer, exceptional players, and a great orchestrator or director or conductor.
Like the creation of a great symphony that starts with the composer or writer, successfully selling your business should start with the proper planning and preparation which should include a realistic and accurate assessment of market value of the Business.
The players in the orchestra are the equivalent to your advisors, and they need to be experienced, and competent.
Advisors could include accountant, lawyer, banker, investor, insurance and possibly others.
The director, or conductor is critical in conducting and coordinating the sounds and timings created by the players and their instruments we call “a symphony”.
Like the conductor at the symphony, conducting the players while following the music, the Professional Certified Business Broker’s role should be to follow the plan, coordinate and orchestrate the advisors to cause a successful sale.
In the symphony, the real work is done during rehearsals, making the performance look easy and beautiful!
In successfully selling your business, the real work is done in the preparation and planning, making the actual sale appear easy, and smooth.
The accountant is key in providing you competent, financial, tax and possibly structural advice.
The lawyer is key, in helping you document things, creating the appropriate instruments to consummate the transaction within the appropriate structure, and help avoid possible risk.
A professional Certified Business Broker like the conductor in the symphony will help you smoothly navigate through the many possible facets, and landmines, that can derail a sale, and even blow up a deal.
Navigating the process then, should include successfully, and confidentially taking the business to market, successfully negotiating the sale on the basis of the plan, and finally, coordinate and manage the advisors to ensure all objectives are reasonably met, to a successful close, and with manageable risk.
In closing, a Certified Professional Business Broker is as important to the sale of your business, as a conductor is to the creation of a beautiful, flawless, piece of symphony!