Page 137 -

TRUMP UNIVERSITY WEALTH BUILDING 101

Whenever you speak to a seller, find out the trade journals relevant to the

business, and read those, too.

Business Brokers

Business brokers do not operate the same way as real estate agents, and not all
states have multiple listings. In fact, there are very few brokers who work for
buyers; in almost all cases, they’re paid by, and represent, the seller, or the
deal. That said, they can be helpful to a buyer.

Accountants and Attorneys

Network with as many accountants and attorneys as possible. They may have
clients with businesses they want to sell. Research them and send a letter to
all of them introducing yourself and letting them know what type of business
interests you.

Friends, Family, and Other Resources

Get the word out. Buying a business is like searching for a job—you’ve got to
pull out all the stops. Leverage your network—your family, your friends, and
your banker. Attend Chamber of Commerce meetings and local trade shows.
You never know when, or how, the right lead will surface.

Direct Solicitations

Contact business owners directly. Do this once you know the industry and
type of business you want to acquire. Usually I ask an accountant or attorney
to send out a letter on his or her stationery, because it looks more impressive.
Provide a contact number, so the accountant or attorney does not have to fi eld
your calls. Or send out your own letter. For more information, check out my
Ten Commandments at www.trumpuniversity.com/wealthbuilding101.com .

Step 3: Visit the Business and Meet with the Seller

This is the best way to narrow the list to the right business for you, and to

fine-tune your Golden Rules. You can’t buy a business from an ad. You
need to speak with sellers and visit with them to really learn about their
business.

114

8/23/07 3:17:29 PM
c12.indd 114
c12.indd 114 8/23/07 3:17:29 PM