{"id":562006,"date":"2024-03-10T05:29:33","date_gmt":"2024-03-10T09:29:33","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbgreenbay\/understanding-the-modern-buyer\/"},"modified":"2024-03-10T05:29:33","modified_gmt":"2024-03-10T09:29:33","slug":"understanding-the-modern-buyer","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/understanding-the-modern-buyer\/","title":{"rendered":"Understanding the Modern Buyer"},"content":{"rendered":"
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A key part of the American Dream is the notion of being financially independent and controlling one\u2019s own fate. While times have changed, the idea of the American Dream is alive and well. Entrepreneurs have long realized that one of the quickest ways of achieving this dream is to own a successful business.\u00a0<\/span><\/p>\n

The majority of today\u2019s buyers are well educated and come from the corporate world; however, they are typically not versed in the business buying process. Since these buyers are coming from the corporate world, they are fact-driven, meaning that they want to see the numbers and will pay attention to details both large and small. You can expect these buyers to want to see all necessary supporting documents. They will want to verify everything themselves. Additionally, you can expect them to employ many outside advisors. Summed up, today\u2019s buyer is not an easy sale.<\/span><\/p>\n

Another key fact about the modern buyer is that they are often what can best be termed as \u201cevent driven.\u201d These are buyers that not only want to control their own destiny, but also need to buy a business for some other practical reason. For example, perhaps their current job was downsized or they were transferred to a location where they did not want to move. It is common that people don\u2019t have the courage to quit their current job and say goodbye to the safety of a steady paycheck in favor of a leap into the unknown. It is quite common that there needs to be an event to stimulate the change.<\/span><\/p>\n

Business brokers and M&A advisors seek to protect their clients while moving them closer to their goals. One of the ways that they can achieve that is by working with only serious and qualified buyers. The process of matching the right buyer to the seller involves asking a series of important questions such as the following:<\/span><\/p>\n