Why the Business Broking Market Needs Disrupting

Brilliant Businesses Blog - Disruption

On the face of it, selling a business actually seems quite easy…

You turn to Google and research some business brokers.

You choose one you like and let them get on with it, with minimal involvement from you.

And that gives you time to keep running your business while the experts market, present, negotiate and sell on your behalf.

But using a traditional business broker is not always the smartest, fastest and easiest way to sell your business, as I discovered first hand when I decided to sell my unique lifestyle business, Smart Boating.

Here’s my story

When I decided to sell my business I thought using a traditional business broker would help me to achieve the best possible price in the shortest possible time.

But as I looked deeper into what was involved it became immediately obvious there was:

– A lack of knowledge of my unique lifestyle business

– A lack of knowledge of the specific market in which I operated

– A lack of enthusiasm to get me the best result – it was easier for the broker to set a low price expectation, so they could hopefully sell quicker and move on to the next sale

– An inflexible valuation method that did not take into account the unique lifestyle opportunity I was marketing

– A staid approach to marketing that did nothing to tap into the digital revolution

– a predominantly reactive approach (rather than pro-active) to the marketing and sale

– A likelihood that a sale would take years to complete

– A commission rate of 8% of the sale price

In short, they were offering me very little but expecting a lot in return.

And as an entrepreneur who loves innovation, efficiency and has a passion for thinking outside the box this didn’t sit at all well with me.

I knew there had to be a better way

Because I’d already experienced the power of content-rich websites and the latest digital marketing techniques through Brilliant Digital’s involvement in Smart Boating’s own websites and booking systems, the better way was actually blindingly obvious.

…build a specific “For Sale” website that conveyed the appeal of this unique lifestyle opportunity

…pro-actively market it using carefully targeted digital marketing

…enjoy attracting multiple warmed up prospects eager to buy

…achieve a sale at multiple times the original valuation

No sooner was my “for Sale” site live than multiple enquiries started flooding in.

My audacious goal to be out by Christmas (just 3 months away) was perhaps not so bold after all?

Fast forward 3 short months

By selling my business via the “For Sale” website instead of a traditional business broker I achieved a sale at multiple times the original valuation with no less than three qualified prospects competing at the final sale price.

The proceeds were banked, the new owners trained and I was out of the business in time to enjoy Christmas and the summer holidays with my family.

This was an unprecedented result and was without doubt due to the aspirational business opportunity that the “For Sale” website communicated.

The seed of Brilliant Businesses was sown.

Brilliant Businesses is disrupting the Business Broking Market

This disruptive digital way of selling my lifestyle business was so incredibly successful I actually decided to go into partnership with Deb Jeffreys at Brilliant Digital.

As owner of Smart Boating I’d been Deb’s first client in 2007. And having experienced from the client side how Brilliant Digital used the power of storytelling to grow and then sell my business it was an absolute no-brainer to also apply this approach to other business sales.

So I gained my broking licence and together we set up Brilliant Businesses, part of The Brilliant Group alongside Brilliant Digital.

My business story is just one of many

An estimated 80% of private businesses in developed economies are owned by baby boomers…
…who plan to retire and exit their business over the next 5 to 15 years,
…with fewer children are interested in taking over these family businesses,
…and it’s highly likely there will be insufficient buyers at various times to satisfy the level of selling demand.

So there has never been a greater need for marketing a business to stand out from the rest and generate buyer frenzy.

At time when the Business Broking Market needs disrupting, Brilliant Businesses delivers a very different approach.

Our new and innovative end-to-end solution for business sales uses carefully targeted digital marketing so your business appears in front of potential buyers when they are surfing the Internet and social media.

Buyers who aren’t even actively looking to buy a business are keen to learn more.

Buyers are out there…. they just need to be shown the opportunity…. but traditional broking methods just don’t reach them.

One click, and your potential buyers are on a very cool new website….. and you’re on you way to a quick and profitable business exit.

Brilliant Businesses – getting you the best possible price in the shortest possible time.

What We Do

What We Do

Complete Business Sale Solution

Because our approach generates a lot of interest fast… we need to make sure we are completely organised before we push GO on the marketing machine.

Having a pre-prepared business report and all the due diligence documents ready in the cloud before we start is an essential part of the Brilliant Businesses process.

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Brilliant Businesses Success Stories

Brilliant Businesses Success Stories

  • Great Financial Outcome in 3 months
  • All elements align for Perfect Sale
  • Sale wrapped up in just over 4 months
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