American Business Brokers (ABB) named #1 business brokerage in Utah
Young business broker teaches others how to be successful in “recession proof” industry
Salt Lake City, UT (MMD Newswire) February 17, 2015 – Anybody who thinks that today’s “younger generation” is self-centered, indifferent, or lacking in ambition hasn’t met American Business Brokers (ABB) managing partner and founder Joshua Lindsey. Lindsey, 33, who was recently honored with the prestigious “Top 40 Under 40” Award for being one of Utah’s most accomplished business leaders under the age of 40, could probably teach his elders a thing or two about success and the pursuit of happiness. And as a leader in a profession that he describes as “recession proof,” he is on a mission to help others achieve success as well.
With a resume befitting the motto of his home state – “Industry” – Lindsey is an expert in small business mergers and acquisitions; his full-service brokerage specializes in deals between $100,000 and $50 million or more, not just in Utah but nationwide. Besides running ABB, he is also the CEO of PHX Private Equity, an investment firm focusing on small businesses. In the years he has been in business he has sold five of his personal companies, including one financial services firm that he took public in 2006.
Lindsey explains that when one is selling or buying a business, the importance of having a qualified business broker cannot be overstated. A business broker works as an intermediary connecting prospective buyers and sellers, guiding each party through the extensive transaction process. To be a successful broker takes a combination of specialized knowledge, integrity, and a deep commitment to an outcome that is satisfying for all, Lindsey says.
According to Lindsey, ABB has one of the top closing rates in the U.S., successfully selling 83% of all businesses they have represented. Lindsey attributes this success to ABB’s relationships with over 200 private equity firms, as well as a personal buyer database of over 5,000 pre-qualified buyers representing more than $500 million in liquid funds. “The majority of these private buyers work exclusively with ABB and me to locate and purchase small businesses in North America,” he says.
Texas seller Neal Lewis is a big believer in Lindsey’s way of doing business, saying, “I have hired Josh and his firm ABB twice to sell two of my businesses. Both times, he brought me multiple cash offers quickly and provided countless hours of service to ensure that the deal closed.”
Lindsey describes the business brokerage industry as recession proof because there are over 23 million businesses in the United States, and at any given time, an estimated 18% – over 4 million – of those businesses will change hands annually. For the able and willing, there is plenty of work in this business. Accordingly he offers comprehensive brokerage training for qualified individuals; those who successfully pass the course and meet other requirements become part of the ABB team of successful business brokers. (For more information see http://americanbizbrokers.com/become-partner.php.)
The Top 40 Under 40 award isn’t the first time that Lindsey has been recognized for his achievements. Before turning 30 he was honored twice by the Cambridge Who’s Who as one of the “Top 100 Executives Under 30” in Utah in the field of business. In 2014 he was featured in the book, “Entrepreneur on Fire,” co-authored by New York Times best-selling author Timothy Ferriss of “The 4-Hour Work Week” fame. And though his business brokerage and investment firm occupy his working time for now, Lindsey could probably make a pretty fair living as a success guru who has “been there, done that.”
For now he is happy to share his wisdom and his business philosophy for free. One of his favorite sayings is, “A true champion believes in himself, when no one else will.” Lindsey explains that any business owner is likely to run into “people who doubt you, try to pull you down, and even try to prevent you from being successful.” That’s just part of life, but with a strong and healthy belief in oneself, it’s possible to keep the doubters and naysayers at bay. Lindsey also has a no-nonsense attitude towards work, expressed in a couple more of his favorite sayings: “Don’t make excuses, make improvements” and “Don’t stop when you’re tired; stop when you’re done.”
Lindsey advises that no matter what type of business one is in, it’s critical to “be true to who you are, reinforce your beliefs on a daily basis, and be utterly relentless in your pursuit of happiness.” He adds, “You absolutely do not have to compromise yourself in order to gain monetary success.” And he cautions that it’s also important to realize that no matter how satisfying or enjoyable one’s work may be, it is simply a means to an end – that end being a fulfilling life that includes faith, family, and service. Lindsey is happily married with three children (so far) and a skateboarding bulldog. In his spare time, such as it is, he serves on the boards of several charities and is an active volunteer in the “Read Today” program, tutoring elementary school age kids in reading.
But there’s no denying that Josh Lindsey loves his work and puts his heart and soul into it. “Buying or selling a business can be one of the biggest financial – and emotional – decisions a person can make,” he says. “I can empathize with clients on both ends of the deal, and I try to treat every deal as if it were my own.” He says that this level of empathy is congruent with his core values of honesty and integrity – a Golden Rule of business, if you will.
“I can’t imagine doing business any other way,” he says.
For more information see www.americanbizbrokers.com
American Business Brokers
Salt Lake City UT 84016