6 Questions Every First-Time Business Owner Needs to Ask
Buying a Business Newsletter
To assure a smooth transition, make sure you allow for flexibility when determining how long the seller will stay after the sale. You may need them for more - or less - time.
Taking a strategic approach to buying a business will increase the probability of your success.
Owning a business can be a very time consuming activity or the most freeing experience of your life; prepare yourself to design it to work for you not just because of you.
The kind of businesses most buyers buy look nothing like GE or Microsoft. They are privately held and need hands-on attention.
Getting an agreeable deal with a seller, like a signed offer and acceptance, is only half the battle. Getting to the closing table is the next big hurdle. The better the plan, the more likely it is to happen.
Would you rather invest money to start a business with no cash flow or buy one with an existing revenue stream?
As a buyer it is important to design your own Due Diligence list for examining a business.
Successful negotiating is a give-and-take process, never a my-way-or-the-highway proposition.
As a Buyer you should learn as much as possible about a business in order to make an offer; but taking too much time may mean you miss out on the opportunity altogether.
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