10 Dec The Top Three Ways to Stand Out from the Crowd
Glen Cooper has been a Business Broker since 1979. In the subsequent decades, he has learned a great deal about what it takes to be a successful Business Broker. Business Brokerage is like virtually every other profession in that it is filled with competition. Business owners have choices when it comes to selecting a Business Broker or M&A Advisor, and that means you must have a workable strategy that will allow you to differentiate yourself from the competition.
Let’s take a closer look at some of Cooper’s key recommendations for Business Brokers who want to build their businesses and win more clients. These were taken from our recent webinar entitled “The 5 Hardest Things to Learn in Business Brokerage.”
1. Be Knowledgeable and Prepared
The foundation of your business is based on how you interact with prospective clients. Knowledge about your clients’ businesses or industry stands as one part of the foundation of being successful. Phrased another way, you can’t simply show up unprepared when meeting a business owner or a buyer. You must always come across as knowledgeable and prepared.
Cooper points out that presentation matters, and that it is important to “sound professional when you’re talking to someone in person, on the phone, on a webinar, a Zoom call, or in person.” He feels that body language and being calm, steady, confident and authentic are all key parts of making a solid first impression.
2. Tap into The Power of Listening
Projecting to prospective clients that you are capable is one key part of the equation. Most brokerage professionals understand this factor. However, many Business Brokers, new and seasoned alike, may fail to appreciate the importance of the simple art of listening.
Wisely, Cooper notes, “The thing you need to learn to be different and to be different in an effective way is to start with questions and listening.” The more you understand a given seller’s business, the greater the chance that you’ll be able to craft and shape your pitch to best demonstrate why you are the right fit for selling their business.
3. Have a Purpose, a Promise, an Offer and a Difference
In charting a path forward, Mr. Cooper believes that you should have “a purpose, a promise, and offer and a difference.” In the realm of establishing what makes you different, Mr. Cooper notes that as a coach, he is able to emphasize those benefits to prospective clients. They see the value of having a coach at their disposal.
It’s important to access your own skillsets and determine how best you can differentiate yourself. For example, if a business broker is also a lawyer or accountant, then these skills should be incorporated into their “elevator pitch.” You should understand what it is that makes you different and then have a clear strategy on how to effectively communicate these facts to prospective clients. Or as Mr. Cooper states, “What unique selling proposition could you develop that others don’t have?”
Buyers and sellers alike are striving to find the best Business Broker or M&A Advisor they can. By learning to showcase your skills and clearly communicating what you have to offer and why it is special, you can set yourself apart from the crowd and achieve greater success.