Buying a Business Newsletter - Page 2

Buying a business is a little like courtship. The deeper you understand each other the harder it is for little imperfections to end it.

While analysis paralysis is not a great recipe for successful decision making, a prospective buyer should never fail to ask enough questions to understand the business; and the seller's motivations.

If you don't like the kind of business you are looking at and it doesn't excite you, no amount of profitability and financial soundness will overcome that.

Want to spend a bunch of money and wait several years to get it back? Start a business. Want to spend a bunch of money and see an immediate return? Buy one.

Preparing a business for sale should start the day you buy it. Making smart growth decisions will maximize its value.

You can never really ask enough questions when buying a business. Gather your information, make decisions, and then take action.

Getting an acceptable letter of intent is a conversation changer in the sales process. It is a time to be both patient and open-minded as specific deal terms will now be discussed.

The greatest advantage in buying an existing business is a financial track record you can take to the bank. Startups can be exciting, but they have their own set of financial risks.

The process for valuing a large business versus a small business has night and day differences. Don't make the mistake of thinking they are the same.

There are many options for financing the acquisition of an existing business. Educating yourself on all the options will be worth your time.