Richard grew up in the 70’s running around his families pre-cast concrete yard in Moorebank, Western Sydney. Later in life he ran the family manufacturing business that was eventually sold to private capital. A great outcome but he also remembers the cumulative toll of risk and responsibility that a business can take on owners. A take away lesson being the total value of a private business is not just the financial value, but also the often ignored emotional value.
Over time, Richard has developed a breadth of experience that is applied to Broking. From setting up a manufacturing business in China with international distribution through to a stint in commercial property, he has first-hand experience in a number of industries and businesses. Within those businesses Richard was in the trenches for sales, marketing, engineering, manufacturing, construction, project management, strategy, staff and more. So, when a vendor tells Richard they are thinking of selling, he completely understands where it is coming from.
When Richard became a corporate business broker, he had no preconceptions about which industry to specialise in. However, he has been naturally drawn back to businesses in the industrial and manufacturing space so anything with a factory, warehouse or shed seems to fit. Factors that often surround such businesses are family and property of which he has extensive experience as well.
Richard reports that there are a number of good brokers out there and his point of difference is the time he takes to understand both the sellers and buyers objectives. “Successful transactions require the alignment of goals and a mindset to explore scenarios that lead to consensus,” reports Richard. As a Broker with experience across many deals and industries, he is able to lead constructive discussions that build trust, understanding and ultimately, results.
Lastly, Richard’s tip for Vendors is to place more importance on meetings with prospective brokers and the reason is not to see who you get along with. As much as your broker will talk to you as a vendor during a campaign, much of the broker's time shifts to buyers. The broker meeting is your chance to observe first-hand how your representative will likely receive, listen, communicate and present to potential buyers. How the broker behaves is absolutely critical to your cause, according to Richard.
