13 Dec 50 Years in the Industry
NOTE FROM TOM WEST:
It is hard to believe that Clyth has been in business brokerage for 50 years. He must have started as a lad. He has been a friend and teacher for many of those years and has influenced business brokerage not only in New Zealand, but also has touched many business brokers in the U.S. also. Here is the latest from him. If you follow his lead you will be very successful in business brokerage.
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On November 11th I have been selling businesses for 50 years! And what an enjoyable journey it has been (and still is).
It has been rewarding. Financially yes, but, more mportantly, the friends I have made, the colleagues I have worked with, and the clients and customers whose lives we have helped change.
They say the more things change, the more they remain the same. How true. In 1962 there were no PCs, cellphones, internet, faxes, or photocopiers (remember carbon paper?). Business sale and purchase agreements were simple, and our code of ethics was “do unto other’s as you would have them do unto you”.
But the basics remain the same. Find a business to sell, market it, sell it, and get paid. We sell businesses one at a time, from one seller to one buyer. Hopefully, we make friends with both, build relationships with their professional advisors, and earn referrals for future business. Technology has made it faster to communicate to, crunch numbers, and to produce impressive documentation.
The danger is that we lose the personal touch. Technology is a tool, not the answer. As I constantly remind our team: “pick up the b…… phone!” Ours is a people business.
The last four years have been hard, but in these 50 years I have been through seven (7) recessions. This one is longer and deeper than any I have experienced… yet, the sun has always shone again eventually. Doing the basics persistently and consistently will ensure a successful future.
So “thank you” to everyone who has helped make this journey so much fun.
Clyth
