Lou Brill has done over a hundred deals in his career as a business broker. Based primarily in New Jersey, he has sold businesses in New York, Pennsylvania, and Connecticut as well. He even keeps a map of his deals (identified by colored stickers) on his home office wall. He keeps another map on[…]
Every winning business broker has different ways to success. Some go door-to-door to find businesses for sale or send out mail campaigns. Others go to conferences and community gatherings. Still others use contacts from their “previous lives” in other industries. Conversely, every unsuccessful business broker has their own pitfalls and traps. Just ask them. […]
Every business broker at some time faces the same dilemma: Do you encourage a client to walk away from a deal? Since almost every broker is in a “eat what you kill” commission-based job, telling your client that they should not go through with it takes enormous risk. And a strong stomach. Larry[…]
THE MANY BUSINESS DEAL KILLERS (AND HOW TO AVOID THEM) Tom Lloyd remembers the first time a deal died at the closing table. It would have been his second as a business broker and the commission was “substantial.” “We’re all sitting there in a conference room at the seller’s lawyer’s office,” he says,[…]
Phil Pisterielli remembers the first time he brokered a deal for a small laundromat in central New Jersey. The closing, he says, was very satisfying. “I thought to myself, wow, this is being a business broker,” says the veteran member of a mid-sized brokerage. “I got the listing because I used to pass it[…]
Louis Brill decided to become a business broker over an egg sandwich. The new father had just lost his job on Wall Street several months after 9/11 and he decided he wanted to radically change his life trajectory. He just did not know how or to what. He joined a mid-sized firm based in New[…]