Episode 138 – Navigating Business Acquisitions: Offers, Buy-Side Searches, and Seller Tips

Welcome to another episode of the Apex Business Advisors podcast. This week, Andy is joined by Jeff Crooks, a seasoned expert with over 20 years in the business brokerage industry. In this episode, Jeff shares valuable insights and practical advice for both buyers and sellers in the business marketplace.

Jeff dives into the importance of always making an offer and why hesitating can cost buyers the business they desire. He stresses that the worst response one can receive is a simple ‘no,’ and that shouldn’t deter anyone from making an offer.

Jeff further elaborates on the concept of buy-side searches, explaining how they can be a game-changer for focused buyers. He discusses the methodology and philosophy behind these searches, and how they often lead to future sell-side listings. Listeners will gain a deep understanding of the buy-side search process, including response rates and the transition from buy-side to sell-side engagements.

The episode also covers common mistakes buyers make, such as settling for a business that doesn’t meet their criteria and the importance of thorough due diligence. On the seller’s side, Jeff offers tips on preparing for a sale, including cleaning up financials and understanding true business valuation.

For new brokers, Jeff emphasizes the importance of networking, staying on the phone, and integrating into specific industry communities to build valuable connections.

Tune in to this episode for a wealth of knowledge from Jeff Crooks, and learn how to navigate the complexities of buying and selling businesses effectively.