02 Feb Warrilow’s The Art of Selling Your Business and Why Business Owners Should Work with Professionals
In our recent webinar, we were joined by certified value builder advisor and accomplished author John Warrilow. Warrilow is not a business broker himself, but instead has gathered considerable knowledge and expertise in how to best help those working in the brokerage industry. The webinar can be accessed by clicking here.
Warrilow’s work helps to emphasize and reinforce the fact that business owners truly need to work with an intermediary if they are to achieve optimal results. In this article, we will dive in and explore some of the key points in Warrilow’s latest book, The Art of Selling Your Business: Winning Strategies and Secret Hacks for Exiting On Top.
Warrilow’s book was designed to provide owners with specific insights as to why they should hire a professional to help them sell their business. Specifically, the book can be used to help you outline to your clients why they should skip trying to sell a business on their own, and instead should always opt for working with a business broker or M&A advisor. Warrilow even includes his six reasons for why every business owner should hire a business broker or M&A advisor in his book.
Warrilow wisely observes that for many business brokers, the single largest competitor they face is actually in the form of business owners. The reason for this is that business owners think that they can simply handle selling a business on their own. For this reason, it is important that you take actionable steps to convince and educate business owners to the contrary. The simple fact is that business owners usually have no experience in selling a business. Add this to the fact that selling their business is likely to be the most important financial decision the business owner ever makes, and it quickly becomes clear that business owners are doing themselves a consider disservice when they opt to “go in alone.”
As Warrilow points out, many business owners think that they can simply turn to a trusted lawyer who has served them in the past. But this thinking is very flawed. As Warrilow states, “a lawyer, almost by default, is going to be very conservative as everything exposes a lawyer to risk. And that is why using a traditional attorney is almost always a mistake.”
In short, your work provides an invaluable service that can protect the businesses that they represent. A book like Warrilow’s The Art of Selling Your Business: Winning Strategies and Secret Hacks for Exiting On Top can serve as a uniquely valuable tool in the process of convincing and educating business owner that they truly do need your experience and expertise.