A good place to start when buying a business is to reflect on your own motivations, lifestyle needs, and what drives your energy. A business that ticks all the boxes for you will be much less of a challenge.
When growth through acquisition is your strategy, make sure there's good alignment between your current business and your target.
The negotiating and deal term experience of a broker can help you avoid a number of landmines and shortcut the process of buying a business.
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.
You can never really ask enough questions when buying a business. Gather your information, make decisions, and then take action.
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.
For a buyer the question of the amount being paid is not about the amount of money so much as it is the opportunity being acquired.
Buying a business can be like a relay race. Part of the success is in the smooth hand off of the baton.
Having success in buying a business is less about timing than doing it right. But some times are better than others, and 2019 is a great time for buying.
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