What is a CBI? – Certified Business Intermediary

What is a Certified Business Intermediary, and What Can They Do For You?

Are you a business owner looking to buy or sell your business? If so, you may want to consider working with a certified business intermediary. A certified business intermediary (CBI) is an individual who specializes in helping owners buy and sell businesses. CBIs are highly trained professionals who understand the complexities of the buying and selling process. They provide expertise that can help make the transition smoother, faster, and more profitable for both buyers and sellers. In this blog post, we will discuss what a Certified Business Intermediary is and how they can help you reach your goals when it comes to buying or selling a business.

What is a Certified Business Intermediary (CBI)?

A Certified Business Intermediary (CBI) specializes in helping owners with their businesses’ sale and exit strategies. They have extensive experience and knowledge about the process involved in selling or transitioning a business. CBIs can help you understand the steps necessary for a successful transition, including valuing your business accurately, marketing it effectively, and negotiating the terms of the sale. By working with a CBI, you can ensure maximum value from your sale. Some of the services provided by CBIs include:

– Conducting an accurate valuation of your business;

– Developing a comprehensive marketing plan to reach potential buyers;

– Negotiating on your behalf to secure favorable terms;

– Identifying qualified buyers and facilitating initial contact.

In addition to these services, CBIs can guide you on financial matters related to the sale of your business. They can help you understand the tax implications of a deal and how to structure it for maximum benefit. They can also provide insight into financing options that may be available for qualified buyers.

Benefits of Hiring a CBI

Hiring a Certified Business Intermediary (CBI) can benefit business owners. CBIs are certified professionals in business sales and acquisitions, with specialized knowledge that allows them to guide business owners through selling or buying a business efficiently. A CBI has experience negotiating sales, pricing businesses, structuring deals, and managing transactions from start to finish. This expertise can help minimize risks involved with such complex and time-consuming tasks while allowing for a smoother transaction in less time. Also, having access to the CBI’s network of contacts can give business owners access to an even greater pool of potential buyers or sellers for the right deal. Lastly, even when it comes to post-transaction support services such as consulting, advisory services, and dispute resolution processes, CBIs have the necessary skill set and experience to ensure that all contracts are adequately upheld and any issues that may arise are handled swiftly and satisfactorily. All these factors combined make hiring a CBI invaluable for those looking to buy or sell a business.

In addition, a certified business intermediary is also adept at handling due diligence processes. This critical step in the transaction process involves assessing the buyer’s and seller’s legal and financial standing, examining the assets involved in the sale, and ensuring that all contractual terms are correctly understood and agreed upon. CBIs have access to data sources and resources to aid them in their due diligence efforts, ensuring that everything is noticed during this critical phase. The results can significantly improve the success rate of any business transaction since

mistakes or oversights could easily lead to costly delays or disputes later on.

Qualifications and Certifications for Becoming a CBI

To become a Certified Business Intermediary, individuals must demonstrate their knowledge and capabilities in business mediation. This can be accomplished through a combination of qualifications and certifications. Those wishing to pursue certification must have experience in business intermediary activities and earn the prestigious title by completing the certification program. According to the IBBA website, the path to a CBI requires the following:

Step 1.

Join the IBBA (or make sure your membership is up-to-date).

Step 2.

Enroll in IBBA University online courses. Course #101, #104, and #100 are all offered online and are part of the required CBI educational courses. You can also complete additional online courses towards the elective CBI course requirements. You can complete the online courses anytime, twenty-four hours a day, seven days a week!

Step 3.

Attend an IBBA Educational Summit to complete courses #210, #220, and #221. These courses can be offered live onsite or virtually, so make sure you know when the next Educational Summit is being offered by checking the Summit Calendar. These courses are not available at Conferences. Also, remember that Course #210 has a prerequisite! You must pass the 210 pretest. It is also strongly suggested that you take Course 102. Course 102 is not a requirement. Both are available online at IBBA University.

Step 4.

Attend an IBBA Conference. Attendance at an IBBA Conference is a CBI requirement. Courses offered at Conferences can be used to fulfill any of the 16 elective credit hours that you have left to complete per CBI requirements.

Step 5.

Once all elective and required coursework is complete, submit your CBI Exam Application, and pay the required fee. Your exam application must be submitted and approved before you can sit for the CBI exam!

Step 6.

Take the CBI Exam. Once your application is approved, IBBA Staff will schedule your CBI exam at a testing center near you.

Step 7.

Submit three deals as the lead seller broker on 3 going concern business transactions using the Initial Certification Submittal Form.

Step 8.

Once all requirements are met, including passing the CBI exam, submit your CBI application.

Other Things for You to Know

• You have three years to complete all CBI requirements. Most CBI applicants can complete these requirements within one year, assuming they have met the transaction requirements; if you really focus and can travel, you can get the coursework completed within several months.
• All IBBA courses (other than the required courses) count as an elective course.
• CBI exam review materials are available, and a recorded review webinar with subject matter experts is offered to anyone approved to sit for the exam.
• The CBI exam ascertains competency in concepts deemed to be general business brokerage knowledge, and not exclusively the content contained within the CBI required courses.

CBIs must also be committed to continuing their education in order to remain up-to-date on the latest developments in business intermediary activities. This includes attending seminars, lectures, and workshops sponsored by the IBBA or related organizations. Additionally, CBIs should join a professional organization such as the International Business Brokers Association (IBBA) or the Association of Mergers & Acquisitions Professionals (AM&AP), which provide excellent opportunities to network with other members and gain insight into current trends in business mediation. Finally, CBIS must maintain its certification status by participating in periodic reexamination processes administered by the IBBA. By taking these steps, CBIs can ensure that they remain knowledgeable and competent in the field of business intermediary activities.

By becoming certified as a Certified Business Intermediary (CBI), individuals can provide professional assistance to others while advancing their own career goals and aspirations. This certification is highly respected by employers, clients, and other professionals within the industry.

Furthermore, it provides an excellent opportunity for those with an entrepreneurial spirit to make a successful living in business mediation. With the right qualifications and dedication, anyone can become a Certified Business Intermediary and work towards helping others navigate through the complex journey of buying or selling a business.