My father was a Doctor, as was my uncle. Not ER docs but Anesthesiologists…it was in effect the family business and I chose not to go into it…but oddly enough I find myself in a profession where I follow some of the same methods.
I got to care for my parents in their 80’s and 90’s. The visits to both their internists specialists and toward the end the various clinicians that cared for them in the hospital became all to routine.
It got to a point when I was walking in I was giving report to the doc as they hit the exam room. I can remember being in the ER and the resident asked me if I had medical training (yeah 15 years of caring for mom and dad).
When people think of business brokers, they often picture someone focused on deals, negotiations, and listings. But before any of that happens, there’s a crucial step that separates the pros from the pack: the business assessment.
Oddly enough, this part of the process isn’t all that different from what happens in an emergency room.
Triage First, Treatment Second
Ask any ER doctor what they do first, and they’ll tell you: triage. They assess the patient’s condition using the ABC method—Airway, Breathing, Circulation—to prioritize what matters most for survival. It’s fast, focused, and based on experience. There’s no time for fluff or guesswork.
Business brokers do the same thing—just with companies instead of patients.
When a business owner comes to us, they may want to sell fast, cash out, or plan for retirement. But before we talk strategy or marketing, we have to assess the business’s true condition. We’re looking for signs of strength, areas of risk, and the priorities that must be addressed before we can bring it to market.
The Broker’s ABCs
Our version of ABC goes like this:
- A – Accounting: Are the financials clean, up to date, and defensible? If we can’t trust the books, we can’t sell the business.
- B – Business Model: Does the business run without the owner being there 60 hours a week? Are systems in place? Is there recurring revenue or key customer concentration?
- C – Customers, Contracts & Continuity: Who are the customers? Are relationships transferable? Are there contracts in place? Is there a plan if the owner steps away?
This isn’t a surface-level skim. Just like in the ER, we’re digging deep, fast, and with purpose. If there’s a major issue in A, we’re not moving on to B or C until it’s fixed.
Assessment Drives Outcome
The better the assessment, the better the outcome. ER doctors don’t jump to surgery without diagnostics. Brokers don’t rush a business to market without knowing what’s under the hood.
When we take on a client, we’re not just selling a business—we’re helping someone transition a major part of their life. The assessment ensures we do it right. It helps us determine:
- The business’s real market value.
- What buyers will love—and what they’ll flag.
- How to package the business to get the best deal.
Final Thoughts
Whether you’re saving a life or selling a company, it all starts with the right assessment. As business brokers, we’re not just dealmakers—we’re diagnosticians. And just like in the ER, getting the ABCs right can be the difference between chaos and a clean exit.
Michael Shea represents the Central Florida Transworld office. In business since 2005, he has established a reputation as a trusted business broker across Florida’s key markets- from Tampa to Orlando, Melbourne, and more. Over the past two decades, Michael and his team have closed over $1 Billion in sold business volume and presided over more than 450 transactions. His credentials include the IBBA Certified Business Intermediary®, and most recently, the prestigious Certified Exit Planning Advisor® (CEPA) credential.