Buying a Business Newsletter - 2025 Archive - Page 5

Buying a business can be like a relay race. Part of the success is in the smooth hand off of the baton.

As with most things, there are advantages and disadvantages to buying a business. With the right advice you can help ensure the advantages significantly outweigh the disadvantages in any particular case.

If you currently own a business and decide to grow by acquisition, be mindful of the cultural changes that could occur within your existing business as a result.

For almost every rule there is an exception. In law, there are almost no absolutes. Getting competent legal assistance when buying a business is a must.

With the large number of businesses expected to hit the market in the next few years, it would seem like a buyer's market is emerging. However, the number of quality businesses available is another matter.

When you buy an existing business with a proven track record you are buying an existing cash flow with proven services to a known market. If you run it at least as well as the seller, it pays for itself.

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

Knowing yourself and what you like and don't like is an important starting point for buying a business. Success in business will take all the passion you can muster.

When buying a business, don't let your excitement drown out the voice of your intuition. Use a checklist to guide you through the process.