Chairman's Message
Pino Bacinello, CBI, M&AMI, CMEA, CSBA
 Greetings,
As we transition to the fall, I hope you all had a good and prosperous summer. The IBBA is almost completely transitioned to our new association management company, Meeting Expectations. I must say that our Executive Director Karl Kirsch, our Director of Operations Lynne Weil, and their staff have exceeded our expectations. The transition has been quite a task, but has been made easier and more bearable by their competence. This year will be an expensive year from an administrative cost. This is a direct result of the fee overlap required to transition to a new management company and from our contractual obligations to Smith Bucklin. The good news is that your board and I believe we are now in a much better place to move into the future. In some situations, it is "pay now or pay later." We believe it will be a cost savings in the long run. Read More |
Executive Director's Message
Karl Kirsch, CAE
 Your Opinions Are Requested
You should have received an email last week containing the IBBA Membership Survey. I hope that you will take the time to complete the survey, as it is another way you can directly have an influence on the future benefits and activities of your organization.
Your IBBA board and staff are continually looking for ways to make your investment in the organization even more valuable. We have completed an assessment of the IBBA benefits and are now looking to make them even better.
Regarding the existing benefits, we already know that the CBI designation is a very important offering of IBBA. For those of you interested in the CBI certification, don't forget about the IBBA Educational Fall Summit, scheduled September 30th through October 3rd just steps away from the IBBA headquarters in the Buckhead financial district of Atlanta, GA. |
M&A Source Chairman's Message
Chet Walden, Chair, CBI, BCI, M&AMI, FIBBA
 Have you played golf in Las Vegas before?
Whether you're a scratch golfer or a 100's player, the experience is remarkable. The M&A Source is planning a casual golf "tournament" for Saturday, November 10th. We've planned for lots of prizes (you know there will be lots of laughs), and above all, the opportunity to become better acquainted with your fellow association members.
We're attempting now to get an idea of how many players are committed. Once this number is determined, Alan Tronson will set the course and deliver the details to everyone. Remember, you can rent clubs at the course so you don't have to drag them through airports.
Sign up with Meeting Expectations today, or indicate your interest when you register for the conference, and top off your stay in Vegas with a fun filled day with new friends and old friends! See you in Vegas!
Chet Walden, CBI, M&AMI, BCI, FIBBA
Chairman of the M&A Source |
Member Spotlight
Edwin Lee, CBI, CPA, CFA
I started my company in 2001 after being laid-off as an investment banker from Credit Suisse First Boston after September 11th. I began working in Hong Kong in 1997 and got transferred to the New York headquarters in 2001. I started my company with about US $250,000 in savings after being laid off. I thought I wanted to start a business.
I decided to go back to Hong Kong and buy an existing business. I found out that no one was doing business brokerage in Hong Kong. So, I decided to become the first business broker in town to buy and sell small businesses, and focused exclusively on main street deals. Our average deal size in Hong Kong is about US $80,000. We have sold 1,064 businesses to date.
Our company is not only a business brokerage. We are also a business builder. We have changed our name from Hong Kong Business Intermediary to BridgeWay Business Builder and Broker to reflect the nature of our business.
Read More |
Member Spotlight
George D. Abraham, Fellow of the IBBA  My grandfather on my mother's side of the family started the first business in the town where I grew up and still live. All three of his sons and one of his three daughters also started businesses here. My grandfather from my father's side of the family was in the grocery business, and my father, along with two of his three sisters, started a business. This is where my entrepreneurial side started. I was born to be an entrepreneur. I opened my first business after college at the age of 23 and a couple of years later, sold it and became a business broker. That was 39 years ago.
The challenge of valuing a business when I started was much greater than it is today, as there were no business valuation books, no IBBA or professional appraisal organizations, so we were left with making up our own methods. Read More |
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Meet Your Board Member: Monty Walker
Monty Walker, CBI, CPA, BCB
In February 1997, Monty became aware of the business intermediation practice arena when a gentleman came to his office, introduced himself as a business intermediary and asked if he could discuss a couple of businesses he represented. At the time, Monty worked for a private investment trust based in Dallas, TX serving as the organization's CFO.
He played a major role in the organization's M&A activities and was accustomed to working in concert with other private groups to invest in and often play an operational role in various business ventures. Although the businesses represented by this business intermediary were not the type of opportunities which would be of interest to Monty's employer, unbeknownst to him at the time, his meeting with the business intermediary set in motion the next stage of Monty's career.
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The Front Line Where the Battles and Tactics Occur  to Put Deals Together
Board members were sent an email asking how they succeed in obtaining listings. Here are a few of their responses: Chet Walden, CBI, BCI, M&AMI We do several different things that help us get listings. Here are a few: - Wine and Cheese receptions in our offices for CPAs, bankers, and attorneys
- We utilize a telemarketing person who follows up on our mailers *most successful*
- Seminars to professional groups
- Network and offer to make presentations to the group
Gary Papay, M&AMI We use referrals, direct mail, email marketing campaign (Mike Marks), and I do one or two seminars per year. In addition, we live by the 3 P's principle: patience, persistence, and prayer. Right now we have a heavy emphasis on prayer as it has been a rough ride for the past 20 months or so!
This section is available for members to share their recent successes, unique deal situations, and strategies employed to successfully close a transaction. Please email your write-up to and we will feature it in our next newsletter. |
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IBBA Announces the Annual Meeting of the Members
As required in our Bylaws, an annual meeting of the general membership of the Association shall be held for the transaction of such business as may properly come before the meeting.
The 2012 Annual Meeting of the Members will be held November 6th at 1 pm at Bally's Hotel and Casino located at 3645 Las Vegas Blvd South, Las Vegas, NV 89109, just one day prior to the M&A Source Fall Conference.
The room number and location of the meeting will be posted at the registration desk for the M&A Source Conference which is located on the Pacific Ballroom Level (2nd floor) of the South Tower of the hotel.
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Fellow of the IBBA Award
Marcie Woolworth, Membership Committee Chair, CBI, Fellow of the IBBA
Joe Lindsey, Credentialing Committee Chair, CBI, M&AMI
Fellow of the IBBA Award: what is it and what does it mean? The dictionary defines "fellow" as a member of a learned or scientific society (as in a Fellow of the American College of Surgeons), and as someone belonging to the same group, occupation, rank, or location.
For purposes of the IBBA, both of those definitions apply; but more specifically, the Fellow award was designed to celebrate the contributions of loyal, long-time members of the IBBA. This highly coveted and lifetime award is available to CBI members who have met or exceeded the established criteria. The list of Fellows (shown in the article) is a veritable who's who of our best and brightest members.
Besides being successful professionals who have withstood the tests of time, a common trait of these Fellows is that they are givers. Each one, armed with the best of intentions, has contributed time and energy to serve our association for the betterment of our members.
Read More
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Marketing Committee Update
Scott Bushkie, CBI, M&AMI
The Marketing Committee continues to work on the Market Pulse Survey which it hopes over time will continue to build the brand of IBBA, M&A Source and each of its members. Thank you to everyone who took the survey in July. Each respondent was entered to win a prize, and that winner this quarter was Gary Gunderson, who was given an iPad for taking the survey! Congratulations to Gary, and we hope to get even more responses in October.
Only with your help will we be able to build our brands to be more recognizable, bringing more business to each of you, enhancing the status of the CBI and M&AMI and helping each of you build a more successful and sustainable business.
Click here for the executive summary of the results. I think you will find some of the stats very interesting, and many of the answers will help you in your business today. If you have not seen the video of the conference yet, make sure you take a look, and please forward the link to anyone who is not currently a member to show the value of our great association.
 | | Why Join The IBBA? |
Scott M. Bushkie, CBI, M&AMI
Marketing Committee Chair
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Technology Committee Update
Steve Wain, CBI, M&AMI
 Setting Up A Modern Brokerage Practice:
Part 2
Last month, we reviewed some of the new gadgets you could add into your everyday practice. This will enable you to be more productive and provide your clients with a better experience in working with you and your firm. This month, I'll review some additional tech areas that you can benefit from using.
Before I discuss some of the new items, I want to preface that each of these items meet the objectives of being both easily accessible and highly affordable. In our industry, given the high degree of sole practitioners, each individual I speak to understands the 'costs' of being a business broker and intermediary. Unlike being an 'employee', making your ends meet month-to-month is crucial to the long term viability of your success.
The cost of joining our profession consists of both physical and opportunity costs, as loss of routine and constant income is an issue we've all faced at some point, or likely still do. The products in this article are truly are inexpensive from a dollar perspective - you're not going to have to break the bank to get them.
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News and Views
Clyth MacLeod, Lifetime CBI  Value vs. Price
Value is one thing. Price is a different thing. We appraise every business we list so that the owner knows the "most probable selling price." Often, we will take the opportunity to the market at a higher price to allow for a "premium buyer." Many businesses we sell will settle at more, or less, than the appraised value. This may result from the different motivations and negotiating skills of the parties. A seller compelled to sell urgently due to illness, for example, may not maximize the price received because we are unable to carry out a full marketing program. Conversely, a buyer may pay top dollar because the business offers special benefits for that particular buyer, such as location. Read More |
From the Editor's Desk
Keith McLeod, CBI
Dr. Edwin Lee and Clyth MacLeod in this issue of our newsletter underscore the "international" in the International Business Brokers Association, reporting from Hong Kong and New Zealand. Edwin offers a new model for brokers and intermediaries to consider, adding a new service, and highlights the differences each of us bring to our association. I am especially grateful to Edwin because he was the one who contacted me to become a candidate for the IBBA Board of Directors. Clyth is a long-time friend and hearing his views is a benefit of being a member of the IBBA. George Abraham, featured in the Member Spotlight, is an IBBA veteran and has been practicing since before our association was launched. Like Edwin, he developed an ancillary service, valuations, to his business brokerage firm and has thrived.
Marcie Woolworth and Joe Lindsey highlight the Fellows honor and the steps to becoming one. Read their article and see if you are a candidate to add this distinction to your industry resume. Scott Bushkie invites you to visit the videos that were produced at our last conference, and discusses the ongoing IBBA Quarterly Market Pulse Survey that is so important to our association. Be sure to visit Steve Wain's marvelous essay on technology tools to enhance your practice.
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IBBA Canada
Fall Conference
Time is fast approaching! We have full details for the Victoria 2012, our 4-day educational event and conference being held October 31 through November 3 in beautiful Victoria, British Columbia. Visit the conference website to learn about the event and to register
2 important dates to remember: Hotel room rate offered for early booking ends September 28, 2012 Discounted rate for the registration ends September 30, 2012 |
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