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As crazy as it seems, some people spend more time choosing a coffee machine than they do selecting the business broker or intermediary that will sell their business. This can be a fatal mistake that can cost time, money, and sometimes the ability to sell the business at all.

How do you choose the right business broker or intermediary?

What follows is a list of questions to ask any intermediary when interviewing them. We also explain what to look for in the answers given.

No one is going to have every qualification listed. But the person you retain must be trustworthy, knowledgeable, experienced, organized, and compatible with you.

Questions to help you determine if the intermediary trustworthy:

Does the intermediary have written references? Can you call the references?

References indicate a job well done. They indicate that the intermediary had the dedication to complete the transaction and provide follow-up. You should be able to call any reference given. Pick two or three to call and ask the following questions.

***Were you pleased with the results?

***Was the initial evaluation consistent with the sales price?

***Did the intermediary follow his plan?

***Would you hire the intermediary again?

***Was the intermediary knowledgeable and did he provide good advice?

***Was the intermediary willing to cover uncomfortable information such as if the initial asking price might not be realistic?

The purpose of these open-ended questions is to try and really find out whom you are dealing with. The answers should be consistent with the written reference.

Does the intermediary belong to local business, charitable groups, churches that indicate a place in the community?

Most people who belong to these types of groups have roots in the community. They generally work hard to be known as quality people.

Does the Intermediary Belong to Industry Associations that have ethical codes?

Again this is an indication that someone makes efforts to play the game fairly. Someone who is always willing to cut corners is likely to cut corners on you too. In the intermediary/business intermediary fields the International Business Brokers’ Association (IBBA) has a strong ethical code.

Are the intermediary’s statements consistent and do they make sense?

If the intermediary’s statements do not make sense to you, or are highly inconsistent, be aware that you probably have a personality or other conflict brewing and you would probably do better to keep looking for someone else.

Do you innately feel good about the intermediary?

If you do not feel you can trust the person, move on and find someone else.

Questions to help you determine if the intermediary is knowledgeable:

What is the intermediary’s formal education?

While formal education is not the end all and be all an intermediary with a working knowledge of business and accounting and other disciplines related to business is helpful.

Has the intermediary obtained continuing education in his field of practice?

Every field and profession is under a siege due to the pace of change. eChanges come from regulation such as changes in tax laws, from market ups and downs like the internet boom and bust, and technology just to name a few areas. Everyone can benefit from staying informed on the changes in their industry including your intermediary.

Has the intermediary authored or spoken professionally on his areas of expertise?

To be able to teach authoritatively or to be published is an indication of true knowledge and depth of understanding.

Questions to help you determine if the intermediary has experience:

Has the intermediary ever owned a business? Was it sold?

The old saying is, “if you want to understand a man you need to walk a mile in his shoes”. Everyone seems to understand the benefits of being a business owner.

Unless you have been a business owner you cannot understand the many difficulties, hardships, and sacrifices that go along with the benefits. Really understanding your plight means that the intermediary understands what you are going through and will work to reduce your difficulties.

How long has the intermediary been brokering?

Other experience can assist in reducing the amount of time that someone needs to learn the basics of brokering. Yet, under two years experience and you can bet that the person is still learning the basics. Why have them learn on you if you can get a pro?

Does the intermediary have any related experiences from selling other businesses?

Every business is different. There are so many different industries and businesses that often the intermediary you are talking to will not have sold an identical business or even one in your industry. The intermediary should still be able to relate experiences from other transactions that help you understand where you are.

Did the intermediaries past experiences relate to his role here?

Many business intermediaries have had prior positions that use many of the same skills as brokerage. People who have performed them are going to have been in many of the same situations and you should benefit from their knowledge.

Questions that can help you determine if the intermediary is organized and has a system:

Every intermediary should have defined systems for the following components of the sale. Ask about any of these. For instance, ask how will you market my business?

Defined systems should at a minimum include:

1. Information gathering about seller, the business, industry, collection of financial information, tax situation, assets etc.

2. Computation of estimated sales value

3. Development of understanding and agreements between intermediary and you

4. Creating Business Value

5. Marketing Plan for selling business

6. Process for qualifying and working with prospects

7. Offer and negotiation process

8. Completion of documentation

9. Due diligence

10. Settlement

11. Follow-up after the sale

Then ask follow-up questions detailing what they have said. For instance if they said they will place a listing on the Internet, ask “What information is provided on the Internet listing?”

Ask these questions about two or three of the systems defined above.

The intermediary should be willing to share exactly how they intend to work your business. Intermediaries need to work on many transactions so if they are not organized things will fall apart and your business may not be given the attention it needs.

Does the intermediary work for a firm? If so what does that add to the process?

A reputable, knowledgeable brokerage firm can magnify your intermediary’s success. By providing back office support and people to fill in when overloaded a good brokerage office is valuable. They also have systems and training to assist new agents.

Compatibility:

Through all of the above questions you should be thinking about integrity and compatibility. The intermediary does not need to be your friend. In fact that could be detrimental to getting the job done. But the intermediary must be someone you can work with, trust, and respect. You must be confident that they will not be underhanded with anyone including you.

The Crux of the Matter:

If you are not 100% comfortable with your intermediary interview another one. Keep looking. Do not become a horror story. There are several intermediaries in most cities. Look until you are comfortable.

***Make sure your intermediary is trustworthy and a part of the community.

***Make sure your intermediary is qualified educationally and through actual experience.

***Make sure they have systems in place so that the work necessary to sell your business gets done.

***Make sure you are compatible with your intermediary.

***Is this someone that can deliver bad news to you and you will still be able to work with?

***Finally do you feel good enough about your intermediary to refer them to a good friend?

Make sure the answer to all of these is yes. Your final financial reward for all your hard work depends on it.

Gregory R. Caruso is an expert at helping business owners plan and execute the sale of their businesses. Greg is an inactive CPA, attorney, and business owner with 20 years experience. He can be reached at www.successfulexits.com [http://www.successfulexits.com].

Do you need help making sense of auto repair quotes? If you’re like about 95% of Americans, you don’t know much about your car and you really don’t want to. You want to wake up, turn the key, and have the car do what it’s always done: drive to and from work. But on those gut wrenching mornings when the car won’t start, or there’s an evil little light on the dash, we know it’s time to telemarket the pros and hope we get a fair deal and not a sharp stick in the eye.

Now you’re in the shop They’re looking at your car, charging you for it, and when they walk into the waiting room, wiping the grease off their hands, how do you know the car repair estimates they rattle off aren’t complete works of fiction?

Let’s pause for a moment of clarity. Just what is an auto repair scam? We’d like to offer some auto repair help using this simple analogy… Going out to dinner.

Imagine walking into a restaurant any given night of the week. You’re craving (let’s say for sake of argument) a burger, fries and coke. You sit down, the waiter walks over, and before taking your order tells you about the specials. He tells you about their tender sirloin tips, sautéed in a cabernet butter sauce served with garlic mashed potatoes and delectable grilled asparagus spears drizzled with extra virgin olive oil. Your mouth begins to water, and you picture a glass of Shiraz to wash it all down.

Fast forward about an hour. You’re leaving full and happy having spent about $55 more than the original $12 you had planned on. Congratulations! You were just unsold.

Let’s repeat this experience and this time explore a scam… You order the burger, fries and coke. The waiter brings you the carrot plate with an orange juice, charges you for the steak, and then the valet refuses to give you your keys until you pay for the entire dinner including tip and a saganaki you never even knew they served.

Now THAT is a scam.

The truly insidious problem with car repair is how hard it can be to tell the difference. Unlike dinner, the inner workings of your transmission can be subject to interpretation.

The most powerful tool you have against auto repair scams is this: Stop using repair facilities who refuse to provide quality information over the phone or internet. We have a simple, hard and fast rule If a mechanic is not knowledgeable enough to provide at least basic, quality information when I contact them initially; he is not knowledgeable enough to be working on a vehicle. Period.

Service writers and technicians need to understand that the rest of the world lives in the information age. With the ability now for consumers to use free public resources (like IanAuto!) and get information to compare notes, mechanics must stop chanting the old mantra “Can’t tell you, won’t tell you! Bring it in and we’ll take a look”.

Auto Repair Quotes – You Need To Be Aware. You Are Not Helpless. You Do Have Choices The major reason for prescreening is that failure to do so opens you up to a host of potential scams and creepy, high pressure sales tactics.

How hard do you think it’ll be to reverse a mistake when your car is 6 feet in the air with the tires off and they’re pointing out fictitious emergencies?

And if the person on the phone is doing nothing but evading your direct questions, just picture the customer service if you have a problem later on.

Remember, there are some amazing auto service pros out there who will blow your mind with knowledge, honesty and willingness to share. People like this should be given a medal for saving customers on a daily basis. The best thing is they’re either a phone call our mouse click away!

Auto Repair Quotes – Understanding A Very Important Fact: While you should never use a mechanic who will not provide honest, direct answers to your questions, you must also know they will have to take a look at your car to give a realistic, accurate estimate. The truth is that almost 100% of car repair related situations do require a physical inspection by a trained service professional. Cars are highly complex machines and a problem with one system can frequently effect the performance of another.

For example: Check Engine Lights. These little buggers pop on when there’s an issue with a sensor buried in some deep, obscure system. We can all blame the manufacturers for not making this easy to diagnose. In situations like this, there is no way to get around a systems test. You will have to bring in your vehicle, the technician will have to plug in a diagnostic tool, and within about an hour (in most cases) you’ll have a solid idea of what’s wrong. But why can’t the technician tell you that?

We have called hundreds of shops across the country and have been hearing the same thing from close to 96% of them: “Nope, we can’t tell you anything until we see it.” Or “We don’t give any information over the phone, you’ll have to bring it in.” We’ve heard these exact two sentences so many times at this point, we’re starting to think there’s a mechanic’s phone call evasion phrase book!

Here’s a response directly from our database: This is a shop who knows how to answer your questions, even when there is no direct answer…

The “check engine” light is an indication something is wrong somewhere in your vehicle. What it’s saying is one or several sensors/components is failing or providing readings within specifications. Diagnosis and troubleshooting is required to determine the cause of the problem, and this will allow us to provide an accurate estimate regarding exactly what needs to be fixed. The cost for an initial diagnosis runs $X. You can expect the whole diagnosis process to take around an hour. Our technicians are trained to handle these problems and are available ASAP. Please call to set up an appointment.

Now isn’t that better than, “Nope. Can’t say until you bring it in”?

Auto Repair Quotes – The Most Astounding Fact Ever: Your answers are found in your mechanic’s questions. Even though having knowledge of your vehicle is the #1 way to avoid a scam, you can offset being less than informed by digging out good questions from the mechanic. There’s a simple reason for this; it shows they know what they’re talking about.

Because cars have become amazingly complex systems, you should not expect to get a diagnosis over the phone or online. But you should expect information. When you call a shop, the person who picks up the phone should be able to tell you something about something. They should also be able to ask you enough questions to draw out info and further highlight their knowledge and professionalism. They should also disclose if they have an inspection fee, disclose if that fee will be waived if you approve the work, and then be courteous enough to ask for an appointment.

Brakes, engine trouble, weird smells, and noises… in almost every auto repair related situation you must find a person who may not give you an exact answer, but will be able to tell you exactly why.

Auto Repair Quotes – Bottom Line: An up sell is offering premium parts instead of the basic stock; a scam is creating problems or lying about repairs needed. Scams can be avoided by finding a service pro who will directly address your questions and/or concerns. And while maybe not diagnosing your problem, at least offering quality information as to why.

Drew Turnbaugh is a spokesperson for Auto Repair Report. Auto Repair Report teaches drivers how to save thousands of dollars on Auto Repair [http://www.AutoRepairReport.com] costs… Without needing to become a mechanic! Check it out today!

When you begin your search for a childcare provider, particularly if you are using an online nanny site, you will quickly find that there are many different terms that are used within the industry, including “nanny,” “babysitter,” “au pair,” and “home childcare provider.” These terms may not always be used correctly by a childcare provider, but it is important to understand the true definitions of each and what they mean for your family.

Babysitter

A childcare provider labeling him or herself as a babysitter tends to be a young person who is available to watch children on occasion, usually in the evening or on weekends. The babysitter may also simply be someone with limited time to offer childcare services and may or may not have a great deal of experience in home childcare. This person may not charge very much for the services offered, but if a family is looking for a nanny to take care of children on a regular basis, this is not the right type of candidate for that situation. However, for the family that would only need a childcare provider for special circumstances, a babysitter may be worth investigating further.

Nanny

A family needing extensive home childcare services will ideally focus on listings for nannies. A nanny is traditionally a childcare provider with two or more years of experience and possibly a college degree related to childcare as well. This person will have references that can easily be checked relating to previous home childcare positions and can offer a great deal of stability to a household. A family with a newborn is likely to be particularly drawn to a nanny, as she may have experience that goes beyond that of the new parents and can be very helpful in the first few months of being home with the baby.

Families can find live-in or live-out nannies, as well as nannies who are available every day of the week or who are available limited days. Many nannies will also be able to handle light chores related to the children, while some nannies will also offer a full complement of housekeeping and cleaning services in addition to home childcare. Nannies encompass the broadest category of childcare provider but the designation is also the one that means the most to a searching family.

Au Pair

An au pair, by definition, is a foreign student who has come to the United States on a specific visa to work as a childcare provider for a specific period of time – usually one year. Hiring an au pair can bring a new culture and new language to a family’s home, making this an appealing home childcare option for many families.

However, it is important to use caution when answering the ad of someone advertising herself as an “au pair” on an online nanny or au pair service. A childcare provider who is advertising her services on a listing site by calling herself an au pair is likely to have completed her accepted time in the United States (and so may have great childcare skills and references) but is now looking to stay in the U.S. beyond her visa, either legally or, possibly, illegally. In addition, this type of au pair may not say up front what her intentions are for staying in the U.S. – she may be looking to settle down in the country permanently, and thus might be an acceptable choice for a family in need of home childcare services – but she may also be looking simply to extend her stay by a few months, which would mean that at the end of the time she would be leaving the family to start the search process over from the beginning.

The bottom line is that if a family wishes to hire an au pair as their childcare provider, it is best for them to go through the licensed au pair agencies that exist and that can handle the paperwork and the legalities of the process, rather than to find an au pair independently listing herself online.

Daycare or Home Childcare Provider

Finally, when searching an online listing site, a family may come across someone listing him or herself as a daycare provider. This means that the person is offering home childcare at his or her residence, rather than at the family’s home. The most important thing to find out in considering this type of childcare provider is if the person is licensed. If he or she is not licensed, the family should walk away. An unlicensed daycare provider may offer the lowest rates, but he or she also brings the highest amount of risk. In addition, even if licensed, a daycare provider must be investigated thoroughly in terms of credibility and trustworthiness, particularly if he or she will be looking after a pre-verbal child. When dealing with this type of potential home childcare provider, not only should references be checked, but the family should also visit the daycare provider’s facility – possibly multiple times – to assess the situation.

Conclusion

When searching for a childcare provider, families must be careful to understand the terms that are used to describe different types of positions. Most families will be looking for a nanny – someone with experience who provides home childcare at the family’s home – but there are other home childcare options available that should be investigated as well. With careful, in-depth research on each childcare provider before making a final decision, a family is sure to find home childcare that fits in perfectly with its needs.

About the Author

Steven Lampert is the president of eNanny Source, an online nanny service [http://www.enannysource.com/nanny/background-checks.aspx] that brings together families and nannies. Lampert previously ran a successful, award-winning nanny agency in a major city for over 10 years, during which time he worked with thousands of families and nanny candidates. Through this experience, he became familiar with the important steps in a nanny search, which he continues to apply to his business today. To learn more, please visit http://www.enannysource.com.