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What does a Business Broker do?

Business brokers, also call intermediaries, are responsible for helping buyers and sellers successfully and legally navigate the buying and selling of a business. They help a prospective buyer identify the type of business they are looking for, find businesses available, analyze the business available for sale, and they help them obtain the necessary qualifications for buying a business. A business broker working for a seller is responsible for helping ready the business for sale, determining the monetary value of the company, developing a marketing plan and preparing the necessary documentation of the marketing plan. In addition to this, a business broker assembles a team of qualified agents to assist them in the buying or selling process, negotiates details, manages paperwork and facilitates closing activities. In short, a business broker is to the selling of a business what a real estate broker is to the selling of a property.

business broker

Is a Career In Business Brokerage Right For Me?

Successful business brokers have the social skills to identify with and relate to the buyer or seller of a business. They are highly organized and have experience in navigating the intricacies of buying or selling a business. They are self-motivated and possess excellent time management skills. An experienced business broker understands that they will face rejection on a day-to-day basis, but that with perseverence, their hard work will pay off.

How Can I Become A Business Broker?

The qualifications for becoming a business broker vary widely by state. Many states require a state-issued license to work as a business broker. There are a variety of rules in regards to recognizing licenses across state lines.

Obtaining a license to become a business broker generally involves receiving classroom instruction, acquiring a certain amount certified experience and demonstrating a commitment to continuing education and pursuing re-certification when necessary. Background checks are generally performed, and fingerprinting checks are standard practice.

Summary

Business brokerage is an exciting career that, though challenging, is fairly simple to enter in to. With the right skills and training, you can enter into this interesting career with ease.

What does a Director of Development do?

As director of development, you can nearly be the star of your own show! The director of development is a top-spotlight professional spanning a range of career titles, including director of community development, director of industrial relations, and director of human resources. Do a quick Internet-news search on “director of development” to see how this career makes the spotlight:

  • “Urban Mission Fills New Director of Development Position”–It is a big role and inquiring minds want to know.
  • “EDC Director Says Economic Recovery in Area is Slow”–The director of development must ease concerns of employees, investors, and anyone else who might be concerned.
  • “Director of Community Development is Fired”–In this high-stakes job, you are held to high standards. Of course, the spotlight is no fun in these instances.

director of development

If you are ready for the spotlight, find out more about becoming a director of development

To shine in this profession, it is vital for you to have the following qualities:

  • Communication genius, on paper and in person
  • Master of tact, as in, no gossiping (especially about employees)
  • Natural-born (or at least well-learned) leader for your specific director title, because to direct means to lead
  • Hard worker. Yes, it is good to be this for virtually any position. But you will work hard as a director of development, sometimes more than 40 hours a week
  • Fantastic fundraiser. This will especially be essential if you direct a non-profit organization

Taking the right classes: director of development education

Your education will be important, too, to prepare you for the career and to make you stand out in the resume pile. Most often, to be a director, you will need at least a bachelor’s degree, and some employees require masters’ degrees. But there are multiple paths toward this career, and directors of development come from diverse backgrounds. However, degrees and/or courses in the human resources, industrial/labor relations, business administration and social sciences can best prepare you for the career. Knowing a second language is also helpful; and in some jobs, technical or scientific backgrounds–such as in computer science, engineering, law, or finace–are desired in candidates.

Director of development job outlook and salary

The Bureau of Labor Statistics (BLS) notes that, for human resources, training, and labor relations managers and specialists, job growth is expected to be excellent: 22 percent job growth is projected. Jobs in the non-profit sector (advocacy, grantmaking, and civic organizations) are projected to grow by 14 percent during the same period.

Some of the top earning director of development careers include:

  • Human resources managers
  • Training and development managers
  • Public relations and fundraising managers
  • Administrative services managers

As you begin your new career, keep in mind that salaries vary by industry, geography and employer.

What does a Financial Planner do?

Financial planners provide a valuable service to individuals who need help with personal finances, investments and retirement planning. Starting with a general overview of income, expenses and savings, a financial planner guides a client through the process of setting short term goals, long term goals, and a step-by-step action plan. Financial planners, also known as personal financial advisors, recommend appropriate types of savings plans and investments and can place orders for stocks, bonds or insurance.

financial planner

An effective financial planner will meet one-on-one with a client, conducting an interview that covers more than just the individual’s savings and investments. Personalized financial planning also takes into account:

  • Outstanding debts, such as mortgages, car loans, credit cards
  • Tax bracket and tax advice needs
  • Insurance coverage for property, health care and disability
  • Investment risk tolerance
  • Wills or estate plans
  • Retirement wish list

Preparation for a career as a financial planner

A college education is required for a prospective financial planner. You should expect to earn at least a bachelor’s degree in a relevant field like business, accounting, finance or law. Course work generally includes math, economics, investments, taxes and estate planning. Many candidates in this competitive field go on to earn master’s degrees. Financial planners also need licenses for direct buying and selling of stocks, mutual funds, bonds and insurance.

Good people skills are crucial for financial planners. According the Bureau of Labor Statistics, 29 percent of personal financial advisors are self-employed, placing a high priority on attracting and keeping a healthy client base. Even those who work for banks, brokerages or securities firms deal with a variety of personalities and financial sophistication levels and need good marketing skills and the ability to explain and simplify complex financial concepts.

Employment outlook for financial planners

With so many baby boomers approaching retirement age, expecting to live longer, and relying more heavily on their retirement funds, the job outlook for financial planners is strong. The Bureau of Labor Statistics projects employment growth of 30 percent for this occupation.

Salary and career advancement are possible through promotion and certification. You could seek promotion to a higher management level, or move to a position as private banker at a large bank. You could found your own business or start a branch office of a securities or brokerage firm. After spending three years as a working personal financial advisor, you could apply for a Certified Financial Planner credential. Testing for this certification is provided by the Certified Financial Planner Board of Standards.