When Buying a Business, Consider Its Digital Assets
It's a new age. Rusty equipment has now become digital assets, and worth much more to a business in many cases.
Buying a Business Newsletter - Page 14
As a business buyer, meet seller's remorse with understanding
Before we list businesses for sale, we have penetrating conversations about the sellers vision beyond the sale. Nevertheless, remorse can set in and needs to be met with understanding.
Look beyond the financials when buying a small business
Generally, you pay for a business based on what the seller has done, but decide to buy the business based on what you plan to do. There are many other attributes to a business than its financial quality of customers, quality of employees, and lifestyle it offers.
What to know before buying a business
You can't get enough good advice before buying a business. There is also plenty of bad advice out there. Know the difference; use trusted sources.
Don't sleep on the "boring" businesses
You've heard that it's often better to buy a business than start one. For even greater reasons it may be best to consider a proven franchise as your new business venture.
Be Prepared for Lease Negotiations When Buying A Business
When buying a business you sometimes are negotiating two deals: one with the seller and one with your new landlord to be. Get educated on commercial leasing issues.
Be aware of the impact to employees when buying a business
The most important assets in a business are people and processes. Look for businesses with strong processes and great people and
take care of them.
When buying a business, consider these "rules"
The three rules of business success* are: 1) Focus on revenue. 2) Never settle for second best products and services. 3) Never violate #1 and #2. *Harvard Business Review, April 2013.
Put a lot of thought into your business-buying criteria
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When coaching business owners, we often focus early in the relationship on the owners' self-awareness and self-discipline as a leader. When buying a business, the self-analysis is no different.
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Who Should be on your Deal Team?
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When buying a business it is important to think about and identify your "Deal Team." That is, your business intermediary - or Broker - your attorney, accountant, and lenders.
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