How To Use Professionals As Intermediaries By Being Creative And Using Lateral Thinking.
Using professionals as intermediaries is a way of benefiting from their status in an indirect yet highly effective manner. You can use the professionals that you usually employ for this purpose. Your accountant, your business attorney, your consulting engineer, your business valuator, etc. Or you can choose to solicit assistance from professionals that you do not ordinarily use.
An example of professionals as intermediaries is probably useful, in case the concept is a bit confusing. You want to sell your business. You have taken, or are taking the various steps necessary to prepare it for sale. These are necessary steps, but not sufficient. You need to do more than merely prepare your business for sale.
You need to bring your business to the attention of likely buyers. One way is to pick up the phone and start calling likely buyers. That may not be attractive for any number of reasons. You need to find a better way. And that's where the notion of using professionals as intermediaries can be extremely helpful. And where your marketing expertise can be really beneficial.
Make a list of all the likely buyers. You can likely do this better than anyone, for you know your business better than anyone else. Write a letter to be mailed by one of your professional advisors, on his letterhead. In this letter provide a concise description of the business. The kind that would get your attention. The letter will explain that your chosen professionals are acting on behalf of a business owner wishing to sell his business. It will explain that the recipients would have a good reason for wanting to buy.
The letter will go on to direct interested parties to contact your professional to express their interest. By doing this you will have made contact with a targeted group of likely buyers. You will have protected your own identity from recipients not interested in exploring the opportunity. And you will have the advantage of knowing that anyone you interact with will have some real interest in the opportunity your business represents.
Utilizing professionals as intermediaries in this manner provides some real benefits. You remain completely in charge. You can say whatever you want in the letter, provided it isn't something your professional will object to. You will pay mailing costs, and for your professional's time. Depending on local law, your professional advisors may not be allowed to accept a success fee.
It can be most effective when the likely buyers for your business are other businesses or their owners. Particularly if you select the right professionals. If you have a choice, and you usually do, select the professional with the highest professional status. For example, does your industry use consulting engineers? Have the letter sent from the offices of the most prestigious consulting engineering firm serving your industry. it will get much greater attention than if it originated from the office of a professional with no particular reputation.
By using this strategy and employing professionals as intermediaries, you will be able to bask in their reflected glory. Give this strategy serious consideration. Clearly you will have to customize it for your own circumstances. But it is well worth the effort. So get creative.
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