What is it Really Like For Small Business Brokers
Dublin, CA (Vocus) May 22, 2010
Taking on the myths about those terrific benefits enjoyed by small business brokers, a blog just posted on the popular BizBen.com website reveals the facts about working in this profession.
The article “What is it Really Like For Small Business Brokers” reviews the truth about the ideas that working in the profession involves big incomes and plenty of free time.
“It’s not that you can’t make a lot of money in this business. The problem is that people get started thinking they’ll earn a six figure income their first year. And I don’t see that happen,” said Peter Siegel, MBA, Founder and CEO of BizBen.com.
“Like most businesses, you have to pay your dues first. It’s takes time to get established and learn the ropes before you can start counting on a livable income.”
Siegel noted that “you need enough cash to carry you for at least six months before getting started. It’s just as important for new small business brokers to have money they can live on, as it is to have a business background and a real estate license.”
The BizBen.com CEO said the blog also dispels the myth about the “time control freedom” associated with the profession.
“People come out of a corporate job where they worked eight hour days, and they like the fact they can work when ever they want, and take lots of time off when they are working in the business brokerage profession.
“We think it’s important to impress on prospective small business brokers that if they aren’t on the phone and meeting with clients on a regular basis, they aren’t likely to be successful in this industry.”
Also addressed by the BizBen.com article is the idea that business brokers are able to “make a difference” in the lives of the people they serve.
“Yes it’s true that buying or selling a small business is a critical step for most people. And the business brokers who guide these entrepreneurs definitely provide an important service,” said Siegel.
“The thing is to remember that you’re actually helping people, to keep that in mind, during those times when you find out someone you trusted has been lying to you. Or when you get sued by someone who made bad decisions and wants to blame you.”
Siegel noted there is a high attrition rate among small business brokers because “people get into the profession thinking about all of the benefits. But they don’t realize how much of a commitment is required to be successful.”
Since 1994, the BizBen.com site has offered businesses for sale, listed some of the buyers looking for those opportunities, and promoted the services offered by the small business brokers and other professionals who serve this market. During his career spanning more than 25 years, Siegel has consulted with entrepreneurs wanting to buy and to sell many kinds of enterprises. He is a SCORE counselor and author of books, blogs and articles about buying and selling small and mid-sized businesses.
For More Information
Contact: Peter Siegel