Business intermediaries are well connected. Through their affiliations, their network and their attendance of conferences and industry forums, they know who is out there looking at your business, in the same way that your mother networks during her tea parties and chats with her lady friends about their mature, qualified, single offspring, who also happens to have an excellent “upside potential”!
Does the perfect bride exist? Some might say yes though the experienced majority will most probably say the opposite! But just as your mother knows you inside out and wants the best for you, so does a qualified and knowledgeable business intermediary, when he has spent enough time listening and understanding your business. Once you open your books and explain the value of your business, he will know how to promote your qualities and you can be guaranteed a mother’s attention!
Your mother is definitely going to paint a rosy picture when it comes to communicating your profile and she knows your SWOTs very well. She will find ways of persuading a prospective partner that some of your bad habits can be overlooked and how, with a few twists here and there, those weaknesses can be turned into strengths. A business intermediary can do the same.
Is it better to do it yourself or should you hire a business intermediary to match your business with an equity partner or to sell your business altogether? Well, perhaps you can do it yourself though it may take you a few years and, in some cases, it may never materialize. Are you willing to wait? Probably not, as time is of essence. If you wait too long, your business or investment opportunity may age and diminish in value, due to micro- or macro-economic factors.
And if you decide to do it yourself, what will the rest of the “family and friends” – your clients, your partners, your employees – think while you are running around in search of the perfect bride? On the other hand, your mother would be very discreet when talking about you, as a business intermediary would. Confidentiality is very important; you definitely don’t want to spread the word that you are looking to partner for a percentage of your business!
And what about your ratios and financials? Have you thought about calculating them or do you think your perfect bride would never ask? These need to be well-presented and verified, since past performance is most probably of the essence regarding your future promises!
How about your existing business? Are you going to risk losing transactions in order to roadshow a capital-finding exercise? You would do much better to focus on running your business, maintaining profitability, solving problems and keeping an eye on your competition, while allowing a “guardian angel” to find the perfect partner instead.
Finally, you may be disappointed if the first few “dates” turn out badly, but neither your mother nor your business intermediary will be disappointed if good prospects don’t materialize immediately. They both have the right incentives to ensure that this matchmaking exercise succeeds!
So take advantage of it and hire a business intermediary today. You have greater chances of succeeding in finding an equity partner or selling your business through a business intermediary. If you have any doubts, you can still ask your mother!
Info: Marios Chiromerides is Managing Director of Connecor Investments in Cyprus, a business transfer agency providing expert transaction management to private businesses and companies, during the transition period when the ownership of a business or company changes hands. www.connecor.com