Kathryn Wilkie: The Role of a Business Analyst
Kathryn Wilkie: The Role of a Business Analyst
An unwavering passion for client service has driven the career of Kathryn Wilkie, a business analyst at Xcllusive Business Sales in Newcastle.
Kathryn started her career in finances in banking. “I loved being able to bring people's finances into light and help them consolidate debt and refer them to the specific services they needed to better their financial position and achieve their objectives.”
Kathryn was keen to combine her focus with the technical finance skills she had gained in the banking environment with a new role. And when she saw a position come up as a Business Analyst with a company called Xcllusive Business Sales in 2018, she jumped at the chance.
“Xcllusive Business Sales has a network that covers Australia and we have just celebrated our 20th birthday celebrations. Unique to many other business brokerage firms Xcllusive operates in teams of Analysts myself, and business brokers. We work closely together to bring professional sound advice to assist in taking you to the sales market and achieving optimal results.”
“As I gained experience in the role, I very quickly learnt that you must be patient, a generalist broker (covering all industry’s) and understand the different verticals in these industry’s. The businesses vary in size & complexity, and it takes a great level of commitment, time & patience to gain an understanding of what we are being asked to sell, why an owner is selling, why now is the time, and what the owners hope to achieve as a sale outcome. Not just in a dollar sense, but in their next steps following the sale. My skillset and passion for helping people and their objectives benefit me greatly in this role. Six years on and I still love what I do,” explained Kathryn.
The Business Analyst Role at Xcllusive
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Kathryn is a qualified Business Broker, but as a business analyst, she works exclusively with vendors. “I’m the first person potential vendors/sellers engage with when they contact us. I build the initial relationships, make sure we are clear on what’s being sold and identify the seller’s goals/expectations for the sale,” Kathryn elaborated.
Kathryn uses a comprehensive checklist of questions developed by the Xcllusive network to ensure consistency and completeness in the analysis process and to advise on the next best steps.
The structured discovery process allows Kathryn to provide valuable feedback promptly. “This reassures them that you can guide them in the right direction, even if it's not what they expect. It is always difficult to adjust a potential seller’s expectations (particularly on price) when they have previously been given incorrect information,” she reflected.
“If the seller decides to proceed further, we do a deep dive by gathering specific information to help assess the optimal sales market value for the business. This way we can offer a realistic expectation of what offers to expect when we go to market. This helps us ensure that we are on the same page. Once the seller has agreed to go to the sales market, I assign the business listing to one of my team of Xcllusive brokers, who then take over from me and take the business to the sales market. With their knowledge, experience and persistence, they start looking for the right buyer to finalise the sale,” she continued.
“As an analyst, I have the time and the ability to offer the most appropriate advice. Sometimes, an owner will contact me because they are frustrated or having a bad day. They don’t really want to sell, so I just listen, give them some encouragement. “Eventually, if they are ready and the time is right to sell I will be the obvious choice to help.” Running your own business isn’t an easy feat.”
As an example, Kathryn mentioned a business owner she first spoke to in 2018 and spoke to almost yearly for 5 years before updating the advice as the business progressed. The owner listed the business for sale in 2023. We found a buyer this business has been sold. Patience and commitment to the client is crucial, she added.
The Role of Specialisation
Kathryn enjoys specialising in the analysing process. “I have learned so much about many different industries,” she explained.
“You can never be at the top of every industry. So when a “new” industry or industry vertical pops up, I can learn more about that industry. Fortunately, within our network, we have a wealth of knowledge. And comparable sales data from 20 years in operation to draw on. Recently, I needed information about a particular industry and I was able to speak to three Xcllusive brokers who offered detailed information I needed to help the seller move forward with realistic expectations and a greater understanding of the types if buyers we would expect to look at buying their business.” Our collective force is really a deal team!
She continued, “The brokers also appreciate this specialisation. The market research carried out many years ago showed it was evident that too many businesses under one broker can be detrimental and affect results and performance of successful sales. Our brokers are capped at 12 businesses each at any one time, so we do not overload them. They focus purely on selling the businesses in front of them.
Zoran Sarabaca, the Principal of Xcllusive, had the insight into this when he originally tried to sell a business 20 years ago; you need a team of professionals to streamline the entire process and break the stages down to be clear and concise. So this is the unique selling process he created.
Xcllusive has a number of guarantees that keep everyone focused on achieving the best result in a reasonable timeframe while providing the seller with regular progress reports so they are not left “in the dark.” We understand what a daunting process it can be and try and shed light on the process throughout the entire sale.
The Role of Research
Kathryn takes pride in the extensive research she undertakes to analyse a business. “It’s far more than the financials (although they will tell me a lot). I always try to visit and sit down with the business owners in person to understand as much as I can about how it operates. Things include clientele, suppliers, owner’s role in the business, staffing, premises etc.
“For example, suppose the current owner works long hours covering multiple specialist-type roles. In that case, we need to understand the impact that might have on profitability when the new owner must replace those specialist roles currently being filled by one person (in this example, the owner) with multiple new employees.” This can have a great in pact on profitability.
“A key problem for many businesses at the moment is the availability of suitable employees. That’s a major concern for a new owner if the business relies on specialised skills which are in short supply, particularly if the new owner does not have those skills,” Kathryn continued.
“The same with the place of business. Is the owner planning on selling the premises if they own it. Or if leased, is the landlord likely to make it easy for a new owner to sign a new lease.
She also highlighted the importance of valuing the physical assets of many businesses. For businesses struggling with profitability, the physical assets may be the most valuable part of the business.
And there is stock. Stock needs to be considered when appraising a business’s value as some businesses hold a great deal of stock and some hold very little to none. The working capital required to purchase a business holding a larger volume of stock can affect the borrowing capacity when looking at getting finance approval to complete a purchase.
The Final Word
Kathryn Wilke's success as a business analyst at Xcllusive Business Sales is due to her unwavering commitment to client service and ability to adapt and use her banking experience in this domain. Her role, centered on building initial relationships with potential sellers and meticulously analyzing their businesses, fits well with her dedication to helping clients achieve their goals. Kathryn's ability to provide objective, research-driven valuations and her strategic approach to managing seller expectations are key to her success.
Her focus on specialisation within the sales process allows her to deliver tailored insights and maintain ongoing, supportive relationships with sellers, often over extended periods. This approach ensures that sellers clearly understand their business’s value and market position when they are ready to list.
Kathryn's meticulous research and attention to detail, from financial assessments to on-site evaluations, ensure comprehensive and accurate business valuations, addressing important factors like business location, premises, work in progress, contracts, suppliers, customers, employee availability, stock and the value of included and necessary physical assets.
Ultimately, Kathryn's passion for client service and analytical approach contribute significantly to her reputation. Her ability to blend empathy with professionalism not only aids in successful business transactions but also fosters lasting relationships with clients, reinforcing the value of the business analyst role in the competitive field of business sales.
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