We had a short training session for the team. We covered dealing with clients, generating business, market conditions (the Business Journal recently had an article titled, “Trump tariffs cool M&A market despite early 2025 optimism”.) If you can’t access it let me know and I’ll get you a copy.
My guidance was:
Don’t fall in love with your client or their business.
First, don’t be desperate. If your prospective client is not a nice person, isn’t honest, or is just hard to deal with, move on. Life is too short and the only thing worse than no client is a bad client.
Realize just because they’re your client doesn’t mean all is seashells and balloons. Doesn’t matter if you’re a business broker, intermediary, investment banker, attorney, banker, or accountant. Your job is to make clients aware of the weaknesses and concerns.
Because every business has detriments. Every business buyer has detriments. There are no perfect people, businesses, or deals.
Too often I see advisors try to portend their client’s business is the greatest business ever (and will be even better if someone better at marketing drives future growth).
The old adage, “Honesty is the best policy” works in all situations.
“I think the world is run by “C” students.” Al McGuire