Buying a Business Newsletter - 2024 Archive

Buying a business is not an event but a journey. Patience and persistence will pay the biggest dividends and help prevent a bad decision. 

There are many ways to finance a business purchase but all of them will consider your character and credit history. The better the history the more the options.

While it is more important to know how to run a business than to know the technical side of what the business does, it is important to at least have a basic understanding of it.

Self reflection is an important first step when buying a business. The purpose to owning a business is to give you more life, not to suck the life out of you.

Financing can be one of the most challenging aspects of buying a business. There are more options than most people realize and a little education goes a long way.

With millions of baby boomer-owned businesses transitioning over the next decade, it is an optimum time to find the right business to buy.

One very good reason to buy a business instead of starting one is that it is usually easier to borrow money to buy an existing business that has positive cash flow.

A message to first-time business buyers: owning a business has risk. You can minimize it, but never eliminate it. If you can't handle risk, don't do it.

While most small businesses are sold with assets, some service businesses only have cash flow. Make sure you think through the advantages and disadvantages of both and make the right decision for you.

While buying the business you work for has its own special challenges, many of the issues you encountered are now yours to solve.