Meet katie

Hi, I’m Katie! You’ve probably heard a bit about me (since you are on my website) and I don’t know about you but I LOVE to really get to know folks like you on the internet in a way that they’re friends. I love to get into the nitty gritty and today, I’m in the hot seat! 

I know, I know - no one likes to talk about themselves BUT I feel like my background and experience makes me such a vital asset to you and your small business and it’s about time you knew all about me, so without further ado let’s get into it - all about Katie!

1. Let’s start with the easy stuff - where you grew up, how you ended up in Texas, what makes you YOU!

Despite being born in Montana, I am a midwest girl, through and through. I was raised in Minnesota, went to college in Iowa, and returned to the bright lights and big city of Minneapolis for my first job after graduation. I worked in Corporate America for a few years, but always felt there was something missing, and felt the need to do something drastic to get away from it all. 

If I was going to make a big mistake in my career, I better do it while I was young enough to have a chance at recovering so I sold everything I had and moved to Prague in the Czech Republic. There, I attended school and received a certificate to teach English as a foreign language (EFL). From there, teaching EFL took me to South Korea and Mexico (where I met my 6th generation Texan husband).

While living outside the USA for 12 years, I traveled to over 18 countries, lived in 3, experienced some amazing things, but still felt a pull of something missing so I purchased my first company in 2010, officially adding ‘entrepreneur’ to my resume. Eventually, my husband and I finally returned to the States in 2017 and settled in the Hill Country of Texas.

Note: Of course our family wouldn't be complete without our rescue Chihuahua, Dobie, that we picked up in Isla Mujeres, Mexico. We frequently joke that she's the real boss and perhaps she is since any piece about me wouldn’t be complete without mention of her.

2. How did you first get into business brokerage?

I first met Clint Fiore, CEO of Texas Business Buyers, in the summer of 2018. He explained to me the work he did to help small business owners and I immediately fell in love with the process!

Even though I bought a business in 2010, I didn't realize that there were professionals that helped people buy and sell small businesses so when I met Clint and the Texas Business Buyers Team, it was my first introduction to the concept — and I was mind blown at what an incredibly valuable service it is!

Helping small business owners buy and sell their companies had so much overlap with the coaching and consulting services that I was offering my business owner clients, it just made sense to expand my offerings to include brokerage. In fact, offering brokerage services gave my brand the niche and focus that I'd been looking for. Thankfully, it seems to have been the correct choice because the traction I've gained over the last few years thanks to my increased focus has been remarkable.

3. What made you decide to pursue your CEPA certification?

In both life and business, I'm learning that I'm a formula and pattern person - I’m always looking for patterns and trying to identify the formula that makes up the pattern.

When I began learning the intricacies of business brokerage, I began to recognize patterns in the small businesses that were successfully transacted for top dollar to the best buyers, which tipped me off to the idea that if the pattern can be identified, a formula would result that other business owners could duplicate.

I wanted that pattern, that formula! I wanted to know it inside out and upside down so that I could immediately pinpoint where a specific business fell on the continuum and what could be done to move it closer to the end goal.

So, after being in the industry a few years and making sure it was where I wanted to build my future, I decided to invest in the CEPA program. I researched several similar programs but was really impressed with EPI's network of high caliber advisors and their MBA-style education that really proved over-the-top valuable! 

4. Speaking of value, tell us a little about how you provide value to your clients.

I believe there's a variety of ways that I provide value to my clients, maybe the most obvious is helping them sell their company for top dollar to the perfect buyer confidentially.

As part of that process, I am heavily involved in helping the buyer successfully buy the business. As a business broker in Texas, we are intermediaries that represent both sides of the transaction — we are the seller's agent AND the buyer's agent. I know this can be a tough concept for some to wrap their brain around but with focus, intention, and clear communication, it can be done professionally and successfully. I tell my prospects all the time that the paperwork part of the transaction is the easiest part; the "people parts" are where I really bring value to the deal.

Many sellers incorrectly assume that our job as a broker is just to bring them a buyer. Many sellers are mistaken when they think, "I can take it from here" once a buyer is engaged but this couldn't be further from the truth! Although we DO bring the buyer, once the buyer is engaged is where brokers really earn their keep.

Why? This is where the deal gets the most action and where advisors on both sides of the transaction are trying to poke holes in everything. I mean, that is the point of the due diligence process but in order to get the deal across the finish line, the broker must be able to navigate this stressful time with poise, confidence, and skill. We must be able to successfully handle the property appraiser who appraises the property for $200k lower than the seller's expected number, or the SBA loan process that lasts 6 months instead of 3 like the banker promised, or delays of licenses that must be granted by municipal authorities that are STILL backed up due to COVID. I could go on and on but you get the idea.

Once the buyer is engaged, I get up every single day and must put the deal back together after someone else has blown it up. If I don't, the team doesn't succeed.

Another thing that many folks overlook in a business transaction is that the broker and the seller are really the only ones incentivized to close the deal as soon as possible. NONE of the other advisors are incentivized to this common goal, in fact, in most cases, CPAs and attorneys lose your business once the deal closes, so aside from them having integrity, why would they want to work any faster?

5. Can you give us specifics?

It is tough to talk too specifically about my deals because we're bound by non disclosure agreements but I will try. I recently closed a liquor store transaction and the couple was going through a contentious divorce. Their split was so prickly that they weren't communicating with one another so one of the ways that I brought value to this transaction was to communicate and negotiate between the two sellers, IN ADDITION to the buyers and the rest of the advisors on the team.

Many business brokers will not take on engagements when there's a divorce involved because it is hard enough bringing a deal to the closing table when the sellers are united. Successfully bringing a deal to the closing table when the sellers aren't on the same page is another level of difficulty.

Thankfully, these folks had a mediation plan in place that served as the foundation of what was possible and what wasn't that helped guide my strategy and corresponding actions.

In the future, I don't think I would turn away a divorce deal on those grounds alone but would be very thorough in my review before taking on another deal like that transaction. 

I hope this brief glimpse into a bit of what makes me a valuable asset to your team was helpful. As always, if you’d like to chat, talk about a business transaction, or just see if I may be a good fit, you can always find time to get on my calendar here.