What 10 Years in the Brokerage Industry Taught Bryan O’Neil

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Today we welcome Bryan O’Neil, one of our very own, to discuss owning and running a brokerage firm and being a top advisor to buyers and sellers. Based in the United Kingdom, Bryan is joining us today from Costa Rica, where he is living the true traveling entrepreneur lifestyle. His career has had him in the mix for over 10 years and he has seen a lot from the many angles of the acquisition process.

Before joining Quiet Light, Bryan was one of the original co-founders and a director of Flipping Enterprises, as well as a co-founder and the concept creator of Centurica – the world’s first website due diligence agency. He was also a consultant at Flippa.com and was responsible for the launch of their brokerage service, Deal Flow. Today we tap into his wealth of experience as an entrepreneur and pioneer in the internet brokerage industry.

Episode Highlights:

  • What Bryan finds exciting when starting with a client and the signals that he looks for right away in a potential transaction.
  • The importance of paying attention to the soft side of a deal and the personalities brokers are working with.
  • We discuss the burnout rate for the online business broker.
  • How brokers develop a sixth sense for what is going to be a smooth deal and how hard or easy it will be to work with a seller or buyer.
  • How the relationship between the owner and the prospective buyer is one of the most important aspects of a transaction.
  • The broker’s valuation is merely the prediction based on the marketplace.
  • Which niches that Bryan gravitates towards in his work.
  • What red flags brokers look for in transactions.
  • One thing that buyers don’t look at enough in the valuation process.
  • Why buyers also need to look beyond the transaction.
  • Something buyers focus on that is sometimes an impediment to the transaction progress.

Transcription:

Joe: So Mark, I understand you had a conversation with one of our very own who probably has more experience than most of us combined in terms of owning brokerage firms and being a top advisor as well.

Mark: Yeah within Quiet Light Brokerage I am obviously the most experienced broker since I’ve started the company. I’ve been doing this for ten and a half years now but Bryan and I started off our conversation just kind of reminiscing on his career arc. When you take a look at our little industry that we have here within this kind of online business brokerage [inaudible 00:01:27.0] when you take a look at the companies that have sprung up and really kind of made their mark on the industry you typically see that Bryan has been somewhere right in the mix of all of those companies in that startup phase. So he’s been at this just as long as I have. He’s been doing this for about ten years now and his resume is impressive.

Joe: It really is and he’s been the easiest to work with because he really doesn’t need any help which is pretty great given the level of skill and experience he has. But it’s funny with Bryan it seems like every time we talk to him he’s in a different country. You know he lives over in the UK but I think the last call we had he was actually in Cuba and working really literally from anywhere in the world like the true lifestyle entrepreneur. Did he get into specifics about the companies that he’s started that are well known in this industry?

Mark: He did. Yeah absolutely and people that listen to this you guys are [inaudible 00:02:22.7] of companies we talked about the companies. I’ll save it for that. And by the way he was in Costa Rica now when we actually did this interview. So he was doing it from his hotel room and asked me in advance “Do I need to shave, is this going to be video?”

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