From the Trenches - Interview With Texas Business Broker Katie Milton Jordan
Katie Milton Jordan
Current market perspective from the trenches of the business acquisition & sale industry
Sit-Down Interview With Business Broker Katie Milton Jordan
What are your thoughts on where business acquisition & sale market activity is heading over the next 3-6 months?
In the next 3-12 months I think we are going to see lots of good things happening in main street transactions.
Small business owners who've been contemplating when to sell are feeling more decisive about the timing. Business owners who have been considering scaling for growth now have the insight and passion they need to pivot and innovate (or cut bait, if not), and corporate refugees who have been furloughed are finally ready to take control of their destiny and invest in a small business of their own. I propose we're going to see more good stuff happening in main street markets than the doom and gloom others might be predicting.
What do you see as the most significant SELF-IMPOSED threats out there that could hurt the market for business acquisition & sale and small business activity in general?
Fear and uncertainty. But then again, I'd argue those are historically the most significant self-imposed threats we all experience in life and business. There's no such thing as a risk-free or guaranteed business investment, ever anywhere. And I think that now is the time for small business owners and small business buyers to double down on coaching, mentoring, and mindset so they can feel confident that they're evaluating circumstances without negative filters or emotions that can prevent them from taking prudent and wise action.
What do you see as the top three reasons to BUY a business in 2020?
This pandemic, for me, has underscored the importance small business plays in our lives and economies. Also, opportunities they present for freedom and increased security. Frankly, I argue that being a small business owner is the levelest playing field in the world. As to the disengaged and burnt-out corporate leaders, I say, if now isn't the best time to buy a business and become captain of your own ship, what are you waiting for?
What are some of the questions a business owner should ask when choosing an advisor to help buy a business or work on exit planning to help navigate through this challenging stretch?
How patient are you?
I say that somewhat tongue in cheek but when choosing an advisor it is important that a small business owner works with an advisor that has patience and professionalism not to act out when challenges need to be overcome, because, in my short time in the business, challenges must be overcome more frequently than the business owner realizes.
How well connected are you (to bankers, attorneys, CPAs, and other transaction experts)?
Buying or selling a small business requires a DEAL TEAM which, by definition, is more than one person. Transaction experts must have a variety of professional experts on speed dial that are highly competent, easy to work with, and professional.
What's your track record?
In many cases, buying or selling a business can be statistically unlikely. The odds of your small business crossing the finish line can be improved by working with an expert who has a proven track record and the resources necessary for success.
How would you rate the current political environment related to small business growth, business acquisition & sales?
5/5
