By Owen Murray, The BusinessSellerCenter

Last week I wrote a brief blog outlining the business broker’s role as the Devil’s Advocate. The blog was inspired by a conversation I had where we were discussing how we should show up for our clients and how to always be improving our process and the results that we deliver. We had recently gotten under agreement for one of our listings and then within two weeks, the Buyer pulled out of the agreement. We had to step back and think about where the disconnect arose, beginning with what we thought was an interested, qualified buyer, that ended in them stepping away. At the end of the day, it can be chalked up to miscommunication. Miscommunication from the buyer regarding their intentions to run the business and by the seller for underplaying their weekly duties and hours. This led to the idea of being Devil’s Advocate. I was really struck by how apt of a description this was for the role of a business broker. It is our job to push when needed to make sure all parties’ interests are aligned. Initially we had taken the Seller’s and Buyer’s words at face value and decided that was enough to proceed. Lo and behold it wasn’t. This presented an opportunity to decide how to make sure we don’t have a repeat in the future. Be the Devil’s Advocate. I can appreciate how that phrase has an underlying negative connotation. However, I think there is nothing better than to be the Devil’s Advocate. To be the voice of reason, or clarity, or even contention. A business broker has a fiduciary’s responsibility to their client. To be a trusted advisor. Would you want your trusted advisor to never push back, to never challenge what may otherwise be taken at face value? With the notion of holding the Devil’s Advocate role in this light, it inspired me to look into the history of the phrase.

Advocatus diaboli. The original Latin phrase for Devil’s Advocate was actually a former official position within the Catholic Church. Similarly to the importance of the role as business broker, it played an important role in the Church. The advocatus diaboli was the one who argued against the canonization of a candidate. Their job was to decide if someone was worthy of obtaining sainthood. To look for any flaws or misrepresentations of what may be otherwise taken at face value. Sounds familiar I’m sure. A remarkably similar role as to that of a business broker. So why the negative connotation? To be honest, I am still unsure. At some point in our history the meaning of the phrase has shifted to describe someone who is being intentionally argumentative or contrary. My guess, is over time the role of someone whose job it was to find flaws, became skewed to reflect someone who is always pointing out flaws. Or maybe it was because the majority opinion does not like to be challenged. Whatever the case may be, I challenge that negative connotation. Sure, there are some who may find joy in being contrarian for the sake of argument, I do not fall under this class. I hold being the Devil’s Advocate with honor and a sense of dignity, for I know my intentions are to create the best outcome for all those involved in our business transactions. 

If you want a trusted advisor who will challenge you when necessary, to achieve the best possible results for you, reach out to the team at the BusinessSellerCenter. Because when it comes to selling your business, there are no do-overs.