Monday, February 23, 2009

Identity

Believing having your own business is the best way to have fun and make money misses the most important point. Those are the two excellent reasons to become employed and/or to learn about passive investments (read Rich Dad, Poor Dad). Successful owners are about those - and much more. 

Talk to them about their business. It's all about being able to help people, not just what happens on their financial statements. If owners didn't truly believe they were doing something significant for others, they would be content as employees or investors. 

This makes being a business broker so interesting. Selling a business is not a round peg, round hole kind of transaction. There's more than cash flow and asset worth. A Seller has to believe that a Buyer can offer society the same, or better, service with the business being sold. Without that, it's a poor deal. I feel I'm more part of an adoption agency than a financial services organization. It's very personal and very rewarding.

The very best sales people are often the business owners who communicate their belief in the importance of what they're doing along with the message about their business. It's not polish; but rather a self-knowledge of exactly who they are and why they're here. Communicating identity sells.

There's a saying in Texas that there's no better fertilizer than the farmer's footprint. There's also no better marketing program than the owner's voice.

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