Monthly Archives: January 2008

Jessica’s Guide to Pitching a Potential Employer

Posted on by Jessica
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No matter how young or old a job seeker is, there are a few things one can do to get noticed.  If you have little experience or are changing careers, these steps below will help identify you as the right person for the job who is professional and already an integral part of a potential employer’s industry.

1.  Have a smart, professional email address.

Although employers always require you bring a paper copy of your resume to an interview, unbeknownst to most applicants, the interview begins the moment they download their resumes. Ambiguous or playful email addresses, such as the Candilikescandy4328@hotmail.com automatically put the applicant behind the start.  Additionally, if an applicant is making a career change, that old, outdated email address that identifies him or her with another industry must go.

2.  Beat the employer to the Internet search.

Yes, they will “Google” your name, given email address and phone numbers to see who you are.  You have done it yourself, most likely, so don’t be surprised that companies do the same.  Be in control and show them who you are. 

Search your name online and see what comes up.  Set up controls and remove any references to you that may portray you in any light that is not professional.  (i.e., you may want to rethink your myspace posts or blogs that not only easily identify you but also show that you had a great crazy and possibly irresponsible vacation in Vegas)

And post.  Some people have very little or no presence on the web, which can also have negative impact to an employer.  Show them that you up to scratch with current technology and that you use it wisely to promote yourself and your services.  There are several free networking sites online that will be sure to bring your name up to the top of a Google or other search engine search.  Several places to begin include:

Fastpitchnetworking.com

Spoke.com

Linkedin.com

These sites will allow you to post your picture, contact details, interests and affiliations and can serve as teasers for a potential employer.  This will also help you as you begin to build up a customer or client base down the road.

3.  Get involved.

Remember your high school counselor telling you that you need to build your extra-curricular activities if you want to go to a good college?  Same here, although it is debatable that listing “horseback riding” or “playing in a band” is a good move.

Employers want to see that you are connected with your community.  Charities are a plus, but begin with joining local associations that are affiliated with the industry you are in or would like to be in.  Use the Internet and your local contacts to learn about chambers of commerce, trade associations, and professional networking groups.

4.  Have business cards before you get the job.

A business card can often be the most cost-effective and life-changing marketing item a professional can have.  Throughout your career, keep 25 cards on your person at all times.

To make the maximum impact, be sure to include the business card trinity: home address, phone number and professional email address.  Often employers will toss resumes and business cards that list only an email address because they will more often than not prefer to call you when they liked resume or were impressed they met you at that chamber of commerce meeting.

5.     Be ready for the call.

If you haven’t listened to your own voicemail message in awhile, call yourself.  If your voicemail is anything other than a pleasant message identifying yourself and that you will return the call as soon as possible, then stop reading this and change your voicemail now.  We’ll wait.

In 2007 alone, I received the following voicemail messages when I would be ringing an applicant to schedule an interview:

“It’s beer-thirty, leave a voicemail.”

“You already know who this is or your wouldn’t be calling so leave a message.”

“UCF rocks”

“This is Shawn at A COMPANY I NO LONGER WORK FOR…”

These resumes always go from my desk to the rubbish bin.  Point made?

6.     Let your fingers do the walking.

As you begin to schedule interviews, you must also begin the quest for information on your targeted industry.  Review each company’s website 3 times, every page, down to the term and conditions.  If a company’s website lists professional associations or partnerships, then read up on those too. 

If you notice a website uses specific phrases regularly on their site or in their brochures, then study up and “own” the phrases yourself.  These phrases are the language they use to pitch prospective customers, so use them when you’re a pitching yourself to the company.  You will also learn through your research about a targeted employer’s competitors – don’t stop with one when you have the ammo to hit them all.

7.     Don’t be silly.  Ask for help.

Ask for help when you need it.  Ask for referrals when you meet someone that may be helpful in introducing you to potential employers.  Give your cards out to everyone you meet who could be qualified to help you.  Every family member should have a stack of your cards, but make sure to print up more for those people you’ll meet while networking.  Often the best way to land the postion you love is to have and maintain the support of people around you.  Go and get it.

 

 

What Does a Business Broker Do?

Posted on by Jessica
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I am often asked by folks, “What is a business broker?  What do you do?”

My response is always the same at the start: “I help people buy and sell businesses.”  

As simple as that sounds, a more formal definition would be that business broker is a trained intermediary who assists sellers and buyers of businesses in the transfer of ownership. Business brokerage generally involves small businesses ranging from stereotypical “Mom & Pop” shops to franchises and chains.

“I’ve never met a business broker before.”

That’s usually the case.  The industry is relatively small to compared to other trades, such as real estate. There are several thousand real estate agents in Central Florida, however only about 1,000 business brokers and intermediaries throughout the entire state.

While most brokers are competent to mediate the sale of many types of businesses, many have further developed niche markets. Some brokers concentrate on the sale of petrol stations, while others prefer to work with manufacturers, printing companies or restaurants, for example.

My particular area of expertise includes work with both Americans and foreign national buyers who are seeking business opportunities for not only investment purposes, but to also meet criteria established by the U.S. Embassy in applying for a visa to the US.

“What designations should I look for in my business broker?”

Common associations that brokers are members of include the International Business Brokers Association (IBBA), as well as state organizations. In the state of Florida, I both a member of the IBBA as well as the Business Brokers of Florida (BBF) .

“I Want to Buy a Business Today,” or The Anatomy of the Unprepared Business Purchaser

Posted on by Jessica
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There are many types of business purchasers – some are laid back, others are analytical or the “hard-core” investor, and there are also those who are simply passion-driven to own and run their own business.  Regardless of the personality of a particular buyer, there is one thing that these folks will likely have in common – this will be his or her first business purchase.

According to the International Business Brokers Association (IBBA), the average business purchaser looks for businesses for up to 18 months, often failing to complete on any business transaction.  There are several factors leading up to such a setback, but a couple of prime reasons for a buyer’s frustration is their unrealistic expectations or unwillingness to hire the right professionals to assist them, such as their accountant, business broker or attorney.

The task at hand can often feel overwhelming for the unprepared buyer.  Though there are thousands of businesses on the market at any given time, only a few will may meet their criteria: budget, required discretionary earnings (also known as “owner benefit), desired working hours, location, or staff requirements.  It can also be frustrating for those who don’t know where to begin the search or questions to first ask themselves – Where can businesses for sale be located? What aspects of a business need to be evaluated?  What type of business do I even want?

As time passes and business opportunities come and go, the mission often becomes time-driven for the buyer.  Maybe there are personal reasons: she is looking to quit her job and run a shop, or wants to relocate by summer’s end to get her family into the new school district.  If it’s strictly business-motivated, perhaps the time-crunch is due to assets recently liquefied that need to be reinvested as part of a particular strategy, or an existing company needs the support of an acquired business.  Some purchasers are just ready for a change.

Several times a month, my office receives calls from people who have spent months looking for a business before reaching out for help.  The clock has been ticking and they explain that they need to buy a business as soon as possible.  One thing a broker cannot do for a buyer is turn back the clock.

What a professional business intermediary can offer a buyer is knowledge, time, and experience.  They can assist buyers in determining which industries to target, enhance the business search, prepare offers and aid in negotiations, investigate financing options, and guide the transaction toward a successful close.

If a buyer is having difficulty in her pursuit, she needs to make the time to sit with a professional she trusts and explain her needs, budget and timeline.  Honesty and trust are the first two components that are needed to get the search back on track and make the following weeks productive and as efficient as possible.

The business buyer doesn’t have to go it alone – with the right team, the search and acquisition periods will feel more fruitful and productive, and the end result will be more positive.  Preparation is key for any aspect in life — a person’s business and family needs most certainly included.  Learn what it takes to be successful in your pursuit – and share it!

A Call for Submissions: “The Anatomy of a Prepared Business Purchaser”, as Told By a Successful Buyer