Keep an open mind when buying a business
It's important to have a good idea of what you want in a business, but keep an open mind along the way; opportunity can smack you in the head.
Buy A Business General - Page 27
How long is too long when transitioning the business?
For transition purposes, buyers usually want sellers to stay in the business longer than necessary, then want them to leave sooner than agreed. This part of the transaction deserves great thought.
Investigate the competition of any business you want to buy
When buying a business, learn to love your competitors. They will teach you what to do and what not to do with your own business.
If you want to buy a business, be prepared for the process
Buying a business is a major event for anyone. Follow some very methodical guidelines to know what you're getting.
So you want to buy a business but don't know where to start?
Evaluating a business opportunity starts with a powerful tool: a mirror. Are you right for this and is it right for you?
What is holding you back from buying your own business?
Owning a business can be a very freedom-consuming activity or the most freeing experience of your life; prepare yourself to design it to work for you not just because of you.
How to approach hiring (and re-hiring) when buying a business
In the best businesses systems run the business and people run the systems. Having a great team is critical to systems mastery and innovation. The combination is critical to business success.
How to think like the owner before you actually buy the business
Having a clear understanding of business best practices and drivers of business value is the lens through which you should look at any business you hope to purchase.
You can learn a lot from other people's experiences
Sometimes experience is your worst teacher, unless it's somebody else's. Study the experience of others who have purchased businesses.
Why do you want to own a business?
Buying a business requires understanding your specific criteria as a buyer. Write down why you want to own a business and what you are looking for in that business.
