Broker to Broker: Part 2

Transcript

Andy welcomes you to another episode of The Deal Board Podcast. This week, they are joined by Ryan Mortenson to interview prolific Broker Linda Boswell. Next, Sam Curcio from Transworld New York interviews the legendary Business Broker and entrepreneur Eric Straus. Join these industry leaders as they discuss two epic business stories and share a wealth of essential advice for people who are just getting started on their entrepreneurial journeys. From Linda’s love of drop letters and the essential quality she attributes her success to, to Eric’s early experiences of entrepreneurship and the principles that have led his way, this conversation is packed with wisdom you can apply today. Thanks for listening!

Listing of the Week:

Addison Goldin is selling a beauty salon in North Broward County that offers every service from nails to tattoos, hair, and more. This could be a quick deal for someone looking for an easy way to start their portfolio. For more information, call Addison at (954) 289 2115 or email him at [email protected].

Deal of the Week:

Michael Shae sold a retail store and interior design practice on the Gold Coast of Florida for $1.6 million dollars. The seller was a near-retiree who had built an exceptional business, and it has been sold to a buyer who had bought multiple other businesses from Transworld. For more information, call Mike on (813) 331 5414 or email him at [email protected].

Key Takeaways

• [02:13] Ryan Mortenson welcomes Linda Boswell and she shares her origin story in business brokerage.
• [06:35] The story of the first business she brought to close using a drop letter.
• [07:15] Her most recent memorable sale of a water survey business.
• [08:15] Linda’s view on what sets a successful business broker apart: follow-up.
• [10:11] Why Linda believes that more drop letters and more direct mail are key to success.
• [11:50] Her goal to help other business brokers grow in the future and the one quality she attributes her success to.
• [15:08] The story of the cosmetic distribution business Linda sold using a translator.
• [16:18] Sam Curcio introduces Eric Straus and his prolific background as an entrepreneur and broker.
• [17:47] His background and early experiences of entrepreneurship before starting a business.
• [23:11] The story of his exponential growth and what he learned along the way.
• [26:55] Key principles and strategies he has applied at every juncture.
• [29:27] Advice Eric would give to young entrepreneurs who are just getting started.
• [33:17] Deal of the Week: Michael Shea sold a retail store and interior design practice on the Gold Coast of Florida.
• [34:41] Listing of the Week: Addison Goldin

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Quotes:

“[To be a broker], I think you need to have a very even temperament, — [because] it can be an emotional rollercoaster.” — Linda Boswell [0:13:07]

“My dad taught me a great lesson — If you don’t have a collections problem, you’re not selling hard enough.” — Eric Straus [0:22:43]

“Whether you’re buying a business or starting a business, you have to assume the revenue isn’t going to be there early on.” — Eric Straus [0:25:17]

Mentioned in This Episode

• The Deal Board Podcast
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• The Deal Board on Instagram
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• Transworld Business Advisors
• Transworld Business Advisors on Facebook
• Transworld Business Advisors on LinkedIn
• Ryan Mortensen Transworld DFW Central
• Linda Boswell Transworld DFW Central
• Eric Straus Transworld New York
• Sam Curcio Transworld New York
• Michael Shea Transworld Lakeland
• Addison Goldin Transworld Fort Lauderdale