A Q u a r t e r l y D i g i t a l P u b l i c a t i o n o f t h e I n t e r n a t i o n a l B u s i n e s s B r o k e r s A s s o c i a t i o n
T H E B E S T I N S I G H T S O N B U Y I N G A N D S E L L I N G S M A L L B U S I N E S S E S
A Time for
Gratitude
Te insights and opinions expressed herein are those of the authors and do not represent professional counsel nor an endorsement by the IBBA.
Spr i n g 2 0 2 4
Plus Insights on:
+ Unlocking the Power of the Dream 100
+ Understanding E2 Visa Requirements
+ Cultivating Impact Beyond the Balance Sheet
+ Legislative Updates
and More!
By Pino Bacinello,
2024 IBBA Chair
SPRING 2024
Te best insights
on buying and selling
small businesses
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LETTER FROM THE CHAIR
UNLOCKING THE POWER OF THE DREAM 100:
A BUSINESS BROKER’S SECRET WEAPON
UNDERSTANDING E2 VISA REQUIREMENTS AS A BUSINESS BROKER
THE BROKER’S CREED: CULTIVATING IMPACT
BEYOND THE BALANCE SHEET
HOW HIGH CAN YOUR CLIENT JUMP
LEGISLATIVE UPDATES
In this Issue
SPRING 2024
It is with great humbleness that I once again have
been asked to serve on the board of such a great
organization. I take this bestowed honor with great
pride and humility.
Firstly, I want to sincerely thank our immediate
Past Chair Kyle Grifth for his amazing leadership,
innovation and, most importantly, achievements
in 2023. Under his leadership and our amazing
Association Management Company, we have seen
the highest membership ever, and the highest
Net Promoter satisfaction score in our history
of tracking such (2015); we also experienced an
amazing and historic conference, the passage of
the Brokerage Simplification Act, and the start of
an awareness campaign we have all been waiting
for, and which we will be implementing starting in
March.
WOW! What a year! Tank you, Kyle!
Much good has happened to our organization
since my last chairmanship in 2012. Some of
those highlights include the reharmonization
of the IBBA and M&A Source with the creation
of the International Association of Business
Intermediaries, Inc. (“IABI”) as the umbrella
organization, under which the IBBA and M&A
Source operate with autonomy but united in
our objectives. Tere are many people to thank
for such a monumental achievement for their
vision, perseverance (at times against many
odds), and willingness to come together for
the good of all members of the IBBA and M&A
Source. Some of those people amongst others
were Cress Diglio, Scot Bushkie, Lou Vescio,
John Howe, and Mike Camerota. We are all
indebted to your hard work and diligence for us
being where we are today.
Te Broker Simplification Act is another huge
win for us all. For those not in the know, or
not in the USA, this is a law that amended the
Securities Exchange Act of 1934 to exempt
business brokers from being registered if
performing services in connection with the
transfer of ownership of small privately held
companies. Tis is an achievement where so
many people are to thank, including, but not
limited to, some of the early ambassadors and
innovators like Andy Cagneta, Linda Purcell,
John Zayac, Mike Ertel, and so many others.
PINO BACINELLO
CBI, MCBI, M&AMI | 2024 IBBA Chair
A Time for Gratitude
Together with many others, I am sure many of
the above-named will be recognized in our newly
launched IBBA Hall of Fame. We look forward
to recognizing the inaugural inductees at our
upcoming Conference in Louisville!
I truly could go on for a few more pages naming
people who made a diference to our organization
but, sufce to say, that all past and present Board
Members, Chairs, Commitee and Task Force
members who have given so much of their time,
energy and wisdom, and where without their
belief and dedication in this great organization
we would not be where we are today – a sincerest
thank you goes out to you all.
Another beautiful thing about our organization
(other than our members) is that we have an
amazing governance model that keeps us on
the mark with our goals, and objectives, year
on year, no mater who sits in this chair. Te
model allows the Board members to “govern”
(develop, and oversee the “ENDS”), while the
Executive Director and management team,
“manage” (execute the “MEANS”) and all through
writen policy. Naturally, the model is a litle
more complex than that, where the Board is
also responsible for the maintenance of the
appropriate Governance Processes and Executive
Director’s Delegation Policies; interpretation of
the directive policies; creation and maintenance
of appropriate Executive Limitations; regular
performance reviews, and more. Tis is a very
robust governing model that each of us should be
aware of, and understand with great clarity, and
once understood it may become a good model to
also operate one’s business brokerage practice.
I encourage each of you to go to Governance
section of the Member Resource Portal and view
the Governance Policy Manual.
LETTER FROM THE CHAIR
Te global market
landscape is changing
whether we like it or not;
we are clearly heading
towards a global economy
with all kinds of emerging
markets and industries,
representing growth
potential for many while
posing challenges
to others.
SPRING 2024
NAVIGATING NEW HORIZONS: THE
FUTURE MUST INCLUDE INTERNATIONAL
BUSINESS BROKERING
Having had a focus for many years now on the
international Business Brokering scene, I can
share with you that back in the early 2000’s we
had many more international members, with
many from the EU and Australia. Business
Brokerage was prety strong and still is in many
countries like Spain, Netherlands, France, and
the UK. Many atended our conferences and back
then we even had an international cocktail hour.
Ten 2008 hit us in 2009/10, and we lost them all.
Tankfully, we are slowly seeing the comeback of
members from outside of the USA and Canada.
Tere is much to be learned from each other in
this community and also, there is an increase in
cross-border transactions (granted, more in the
M&A arena than Main Street). I am delighted
to say that we are working closely with the
Australian Institute of Business Brokers as
well as Transeo, which is an EU organization
established to support and promote SME
transference, in finding ways to collaborate to a
mutual benefit.
When delving into the evolving landscape of
international Business Brokering, and as the world
emerges from unprecedented global challenges,
the role of Business Brokers has never been more
critical. To this end, I would like to explore how
adaptation, innovation, and collaboration will be
shaping the future of our industry.
Te global market landscape is changing whether
we like it or not; we are clearly heading towards
a global economy with all kinds of emerging
markets and industries, representing growth
potential for many while posing challenges to
others. Geopolitical changes are also happening
and will impact both local and international
business
Additionally, technological innovations are
shaping our industry and profession. Reach
is almost automatically global; AI and other
emerging technologies including digital
transformation (including blockchain), global
payments, and more are enabling faster and more
secure deal-making; and as a result international
deals are no longer limited to the mega companies
but smaller transactions are happening and
growing steadily.
Te importance of Environmental, Social, and
Governance (“ESG”) with greater awareness and
demand for sustainability and ethical practices
of businesses is also filtering into due diligence,
and perhaps even side by side with Quality of
Earnings (“QoE”).
As Business Brokers, we need to build stronger and
larger networks if desiring to play, and succeed in
this inevitable international arena. Building those
relationships, especially with the movement of
people and businesses, will continue to be critical
in the development of partnerships, and successful
collaboration between brokers from diferent
regions, and countries; this includes navigating
through difering cultures, regulatory challenges,
laws and regulations, cross border transaction
compliance, etc.
Tis becomes more and more overwhelming as we
ponder through it. Te thought of collaborating
with brokers in other regions, or them
collaborating with us to meet their clients’ needs
then becomes more, and more real, and possible.
All this emphasizes the importance and need of
agility, knowledge, and integrity in our profession.
Te International Business Brokers Association
is commited to supporting brokers not just here,
but worldwide, realizing we are becoming more
and more global, with an increasing need to
embrace change, seek continuous learning, and
foster global connections.
We as your organization have an obligation, as
it is part of our ENDS, to support and equip you
with the latest awareness, tools, and knowledge
to thrive in this new era. I therefore encourage
you to reach out to our fellow members in other
countries as well as nationally, and regionally, and
share experiences, strategies, and opportunities.
Te largest gathering of Business Brokers in the
world is happening at our Annual Conference
May 11th and 12th, and we are grateful to have
many international members join us. We
hope you’ll take advantage of this remarkable
opportunity and experience.
I once again thank you and look forward to
serving you.
PINO BACINELLO | CBI, MCBI, M&AMI
2024 IBBA Chair
Te IBBA: Over 3,000+ Members Strong,
and Growing!
SPRING 2024
TRENT LEE
MBA, CBI, CM&AP, M&AMI, ECA
Unlocking the Power of the Dream 100:
A Business Broker’s Secret Weapon
In the bustling world of business brokering,
standing out from the crowd and making your
mark can seem like a daunting task, especially
for those just stepping into the industry. Tis
is where the Dream 100 strategy becomes
not just a tool, but a game-changer. Imagine
having a laser-focused approach that not only
identifies where your ideal clients gather but
also positions you as the go-to expert right in
front of them. As a business broker, adopting
the Dream 100 as your primary marketing
strategy means you’re not just casting a wide
net and hoping for the best; you’re strategically
placing yourself in the right places, at the right
time, making your eforts more efcient and
your results more impactful. It’s about working
smarter, not harder, and ensuring that every
step you take is a calculated move towards
building a strong, referral-rich business.
WHAT IS THE DREAM 100?
Originally devised by Chet Holmes and later
popularized by marketing guru Russell
Brunson, the Dream 100 strategy is about
identifying the top 100 channels where your
ideal clients spend their time. Tese could
be industry-specific forums, influential
business blogs, popular social media groups,
or even podcasts and newsleters that cater to
business owners looking to sell.
Te essence of the Dream 100 is to focus
your eforts on these key channels to
maximize visibility and engagement with
potential clients.
APPLYING THE DREAM 100 IN
BUSINESS BROKERING
As a business broker, your Dream 100 might
look diferent from that of a traditional
online marketer. It could include top industry
publications, business forums, networking
groups, and even other professionals who
might work with your ideal client already. Te
goal is to be where your potential clients are,
ofering value and establishing your presence.
As a business broker,
adopting the Dream 100 as
your primary marketing
strategy means you’re not
just casting a wide net and
hoping for the best; you’re
strategically placing yourself
in the right places, at the
right time, making your
eforts more efcient and
your results more impactful.
SPRING 2024
SIX STEPS TO IMPLEMENTING THE
DREAM 100
Identify Your Ideal Client: Before you can
target your Dream 100, you need to know
who your ideal client is. Tink about the
business owners you want to work with -
what industries are they in, what size is their
business, and what challenges do they face?
Craf a Compelling Ofer: Your ofer is what
will capture the atention of potential clients.
It could be a free business valuation, an
informative webinar, or copy of your book on
preparing a business for sale (wait a minute,
you haven’t authored and published a book
yet? What are you waiting for!). Te key is to
provide value and education that resonates
with your target audience.
Locate Where Your Clients Congregate: With
your ideal client in mind, research where
they are likely to spend their time. Tis could
include industry-specific forums, LinkedIn
groups, or local business associations. Your
Dream 100 should be a mix of these platforms.
Engage Authentically: Once you’ve identified
your Dream 100 channels, the next step is to
engage. Tis doesn’t mean spamming these
channels with your ofers. Instead, contribute
meaningfully to conversations, ofer your
expertise, and gradually introduce your services
but do so while ofering so much education and
value as you go that you build more goodwill
than you take from the group.
Leverage Paid Opportunities: Not all your
Dream 100 channels will be accessible through
organic engagement alone. Be prepared
to invest in sponsored posts, ads, or even
partnerships to get your message in front of
your target audience.
Nurture Your Leads: As you start to generate
interest through your Dream 100 eforts, it’s
crucial to have a system in place to nurture
these leads. Whether it’s through a series
of follow-up emails, informative content,
or personal consultations, or my personal
favorite, a serious of educational videos, make
sure you’re guiding potential clients through
the decision-making process. Oh, and did I say
how important it is that you are providing
solid, reliable education. Tis is key to making
the strategy work. 99% of your content should
be education and be so good, that you don’t
need a strong call to action, the prospect will
reach out to you when they are ready because
they will feel like they know, like and trust
you already.
MAXIMIZING THE DREAM 100
FOR REFERRALS
Te true power of the Dream 100 for business
brokers lies in referrals. By establishing
yourself as a knowledgeable and reliable
broker in your chosen channels, you’ll not
only atract direct clients but also become
the go-to referral for others in your network.
Tis could include other brokers, accountants,
lawyers, and even past clients.