Love of the Deal
by Sandy Penny
Taos Horsefly, May 21, 2009
Wylie Elson says he got into business brokerage because he loves all the aspects of making a deal, but it took him a while to settle in. Elson was working as an account executive for Hewlett Packard in the mid '80s when he met Eugene (Gene) Merfeld, a successful business broker and author who became a long-term friend and mentor. Merfeld identified Wylie's talent and passion for business brokerage and encouraged him to pursue it. However, Elson admits he still had some exploring to do.
He first came to Taos in 1991, lived at the Lama Foundation, and became an integral part of their fund raising and development team. After moving to Albuquerque, completing medical school in 2000, and interning at the V.A. Hospital, Elson decided not to practice medicine. He returned to Taos in 2001, made it his home, and with an open space in his business life, founded his local brokerage.
His career quickly took on three distinct divisions. Beginning with representing local businesses with revenues of $450,000 to $5 million; he then developed a specialty in hospitality properties in the range of $1.25 to $10 million. Most recently, his mentor Gene Merfeld invited him to become the western regional associate of Merfeld and Schine, a national mergers and acquisitions firm, where he handled larger businesses in the $2 to $15 million range. Elson quickly developed a reputation for his knowledge, helpfulness, experience and skill at facilitating transactions for any size business.
His business brokerage is now known as the largest, oldest and most successful in the enchanted circle. Along the way, he has acquired an impressive database of potential buyers who are waiting for the right business to hit the market.
The sale of a business is an emotionally charged event that can be scary or intimidating for a seller. Elson handles the complexities and details to create a smooth transition. He initially gets to know the owners, history, performance, assets, profitability and potential earnings of a business. During the sales process, he continually educates his clients.
Elson's company puts together a marketing package, pays for a wide variety of advertising that sometimes includes expensive print media like the Wall Street Journal, and evaluates whether prospective buyers are serious. He says there's a lot of behind the scenes work that neither the buyer nor the seller sees. He explained, "I have to know if a buyer has the money, the experience, and the will to proceed."
After information is exchanged between buyer and seller, Elson schedules and facilitates a site visit. He serves as a coach and negotiator who helps the buyer and seller reach a "meeting of the minds" on price and terms. Elson is a strong ally for sellers and even advises them about possible tax implications of a sale, referring them to other professionals, such as accountants and attorneys, as needed.
Elson confides, "My goal is for both buyer and seller to be thrilled to have worked with me. I want them to come back and recommend me." He enjoys the whole process of bringing the deal together and handling the complexities that make it happen. He admits, "It's nice to be doing something really fulfilling for me and my clients."
by Sandy Penny
Taos Horsefly, May 21, 2009
Wylie Elson says he got into business brokerage because he loves all the aspects of making a deal, but it took him a while to settle in. Elson was working as an account executive for Hewlett Packard in the mid '80s when he met Eugene (Gene) Merfeld, a successful business broker and author who became a long-term friend and mentor. Merfeld identified Wylie's talent and passion for business brokerage and encouraged him to pursue it. However, Elson admits he still had some exploring to do.
He first came to Taos in 1991, lived at the Lama Foundation, and became an integral part of their fund raising and development team. After moving to Albuquerque, completing medical school in 2000, and interning at the V.A. Hospital, Elson decided not to practice medicine. He returned to Taos in 2001, made it his home, and with an open space in his business life, founded his local brokerage.
His career quickly took on three distinct divisions. Beginning with representing local businesses with revenues of $450,000 to $5 million; he then developed a specialty in hospitality properties in the range of $1.25 to $10 million. Most recently, his mentor Gene Merfeld invited him to become the western regional associate of Merfeld and Schine, a national mergers and acquisitions firm, where he handled larger businesses in the $2 to $15 million range. Elson quickly developed a reputation for his knowledge, helpfulness, experience and skill at facilitating transactions for any size business.
His business brokerage is now known as the largest, oldest and most successful in the enchanted circle. Along the way, he has acquired an impressive database of potential buyers who are waiting for the right business to hit the market.
The sale of a business is an emotionally charged event that can be scary or intimidating for a seller. Elson handles the complexities and details to create a smooth transition. He initially gets to know the owners, history, performance, assets, profitability and potential earnings of a business. During the sales process, he continually educates his clients.
Elson's company puts together a marketing package, pays for a wide variety of advertising that sometimes includes expensive print media like the Wall Street Journal, and evaluates whether prospective buyers are serious. He says there's a lot of behind the scenes work that neither the buyer nor the seller sees. He explained, "I have to know if a buyer has the money, the experience, and the will to proceed."
After information is exchanged between buyer and seller, Elson schedules and facilitates a site visit. He serves as a coach and negotiator who helps the buyer and seller reach a "meeting of the minds" on price and terms. Elson is a strong ally for sellers and even advises them about possible tax implications of a sale, referring them to other professionals, such as accountants and attorneys, as needed.
Elson confides, "My goal is for both buyer and seller to be thrilled to have worked with me. I want them to come back and recommend me." He enjoys the whole process of bringing the deal together and handling the complexities that make it happen. He admits, "It's nice to be doing something really fulfilling for me and my clients."
