OEN NewsOEN Member Conversations: International Business Associates

OEN sat down with Joseph Hollcraft, an M&A specialist at International Business Associates (IBA) to learn more about their services, sponsor relationship, and why he loves working with OEN. 

Can you tell us about IBA and its mission? 

International Business Associates (IBA) is the Pacific Northwest’s oldest business brokerage; 49 years now. What that means to a client is tremendous institutional knowledge. We have brokers who have been here 30 years or more and we have more than 4,400 transactions under our belt. There isn’t an industry we haven’t touched. We provide valuations, market our clients’ businesses,  and shepherd the process of the sale. Our responsibility is always to the client and we represent sellers almost exclusively. When you engage with a broker from IBA and we present a valuation to you, you will see that experience and knowledge come through. We use what we’ve learned, our training, our experience, and our negotiation skills to ensure our clients get everything they need to move into their next adventure with as much value for their business as the market can bear. 

What inspired IBA to support OEN and entrepreneurship in the region? 

I was interested in OEN and wanted to learn more, so I observed a PubTalk. It was inspiring to see the number of highly engaged and interested entrepreneurs and founders and I found it incredibly impressive. OEN is one of the most engaged networking groups that I’ve been a part of. Because OEN is focused on all entrepreneurs, not industry or discipline specific, it brings in this great group, great energy, and usefulness of the speakers to the group. At the time I was told that OEN did not have much of a relationship with business brokers and I wanted to provide that knowledge, service, and experience to anyone at OEN who felt that they could benefit from it. 

How does IBA align with OEN’s goals and values and what impact do you hope to make by partnering with OEN?  

The synergy between IBA and OEN is IBA’s ability to professionally and accurately value business at their current market value. If someone is looking to bring in partners or get an SBA loan and they would like to get a better understanding of their business value, that is where IBA would come in and cover all of those aspects. IBA engaged with OEN to support the entrepreneurial spirit, to be of help, and that will take on whatever form it takes on. The impact that IBA hopes to make is to be of service and support to the members of OEN. 

How has sponsoring our non-profit benefited the IBA and team? 

It of course gets IBA’s name out there but on a personal level for myself, getting to experience the entrepreneurial spirit on a larger scale is enjoyable and it energizes me to better service the entrepreneurial community at large. I’m a big fan of business owners and know what it takes to be successful. Those that find that success are exceptional at making hard choices, making the right choices; they are forward looking, agile and adaptable and that is such a wonderful thing to observe. To see that happening at every PubTalk in some way or another is incredibly inspirational. 

What would you tell another organization interested in supporting OEN through sponsorship? What advice do you have for other organizations looking to support entrepreneurs? 

Should a business be aligned, attend a PubTalk and see what it’s all about. Speak to the people there and get a sense of the organization. You will be impressed by  the energy in the room and the engagement of the group. 

How can our supporters and followers learn more about IBA? 

IBA has a robust website with dozens of blog articles on buying and selling businesses, deep level analysis of the process from both sides, and something we call “American Dream Achieved” which recounts tales of business owners that IBA has represented. www.ibainc.com is an exceptional resource to learn more about the buying and selling process. 

What are your top business services that you offer and who would be the best contact if a business was interested?

Reach out to Joseph Hollcraft for more information. Their switchboard is another resource for additional information. 

As far as business services for founders and entrepreneurs: Valuations, our ability to negotiate on behalf of the client through the process of selling and marketing their business. We maintain a database of buyers ready and willing and pre-qualified which is a wonderful resource. Our primary driver is the exit of entrepreneurs, but we are exceptionally proficient at valuations as a result of our study, training, and desire to serve our clients to the highest level. 

Is there anything else you would like to share about IBA or partnership with OEN? 

IBA is excited to be a part of this ecosystem.  To the members of OEN: No matter how many times you feel that failure is close or the next obstacle is insurmountable, the fact that you as an entrepreneur are taking your destiny into your hands, to build and create and serve your community, is an exceptional thing. Just. Keep. Going. To use Covid as an example, so many public-facing businesses saw huge downturns during that time, the cost of labor and goods has gone up significantly since then, and the number of challenges has grown for entrepreneurs. I’ll tell you this as an undeniable truth: Those moments you had, growing and struggling and maybe just barely hanging on, unsure of the future but standing firm and plowing forward, all the while guided by an idea of an outcome, a dream of it…when you take stock and see that you have finally arrived at the place you once dreamt of, or even surpassed it, there is no better feeling in a person’s professional career.