Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "What Are the Types of Business Buyers". Listen to the podcast, watch the video http://freedomfactory.libsyn.com/what-are-the-types-of-business-buyers or read the transcript below. Hi, Robert Hirsch from Freedom Factory. And I just had this truly interesting concern, and it was from a purchaser of a business. And in among my other videos I was talking about various type of buyers, right? There's first-time buyers, entrepreneurial buyers, strategic buyers, and we'll enter into an entire host of them. However, however he said, well, what sort of purchaser am I? I'm uncertain. And I made the joke, I said, well, that indicates you're a first-time purchaser. He was actually a serial entrepreneur and we got a great kick out of it. However I wanted to discuss the different kinds of buyers for businesses. And this is necessary not just to purchasers, however to sellers since we're going to have various campaigns for different styles of purchasers. So let's discuss the first one. And this is what I affectionately refer to as the first time purchaser. These are individuals that traditionally leaving the corporate world. They've got a fantastic education and they're saying, should I buy a business or should I purchase a franchise? And often franchises look excellent to people originating from the business world because they have systems and procedures and they sell franchises often sell on worry. They state, well, you can't get a big account if you're not part of a nationwide business with a nationwide marketing project, you're going to get an actually huge upper hand. In my experience, that hasn't held true. We have actually offered a lot of franchisees in the past. But the reality is when somebody makes a decision for you, they're not deciding based upon the sign behind you or the name they want you. And so if you're a sign maker and they go to a national indication franchise, they're not going to state, well, that sign franchise is terrific signs. They'll go with them. They say, you understand, Robert, I really trust you and I think you can make a kick-butt sign for me. Let's do this. And so I typically recommend to my business kind of individuals making the huge transition and the big jump to look at organisations that have actually been around for a long history, that have a great track record and excellent sales and actually good systems and processes. So that makes a transition as simple as possible. But that's actually the first time purchaser. And so companies like that service businesses are terrific, item organisations are excellent, but eventually you want something where your skillset is truly going to add to business. The second kind of buyer is serial entrepreneurs like me and I've been doing this for 29 years. I have actually been in every company I can consider, and some have actually worked out and some have not, however in general more have done well than haven't. And I normally shift every 2 to five years. A great deal of entrepreneurs, you do your best and let's state you're going to 100% a year or 150% a year, and all of an unexpected you dropped a 10 or 15% and it turns more operational. For me, when it gets operational, there are individuals much better matched to it than me, so I'm happy to offer it to them and get in something where I can be more tactical. Thank you so much for spending your valuable time with us and we'll see you soon. Please like and subscribe. Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111