Why Buy a Business Vs Starting from Scratch?
Why Buy a Business Vs Starting from Scratch?
Being prepared by having all of these items lined up before even looking for a business to buy is extremely important. If not, you will waste the momentum you bought and will need to claw for survival or get out quick.
What Are the Odds of Successfully Completing a Business Purchase?
It is interesting and important for a business Buyer to know that the industry average for putting in an offer that is accepted and that offer actually going to the closing table is 50%. Why you ask? Again it comes down to preparation. This time though, it is often the Seller’s lack of preparation that causes the problem.
As this statistic states, not every deal works out. If you are prepared, then you will uncover any possible discrepancies in the Seller’s information during your due diligence of the business. Being well prepared, you will also be able to renegotiate after these discoveries or walk away and be happy with that decision.
How Can I Make Sure That I Have Made the Right Decision to Buy vs. Build a Business?
Once you know what kind of business you want to be in, deciding how you will achieve the goal of being a business owner is extremely important. Buying a business instead of starting from scratch is a statistically better idea. BUT… it means very little if you are not a prepared/educated Buyer, which includes getting help from people with experience in buying and operating a business.
Be mentally, physically and monetarily prepared to buy a business or start one from scratch. This will allow you to go with your gut and your heart to know you made the right decision on the path you have taken. If you don’t have a fire in your belly over this exciting decision to be a business owner, then you have made the wrong choice. It’s that simple.
Why Buy a Business Vs Starting from Scratch - To learn more about this author, visit George J Sierchio's Website.
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Not everyone can buy a business that nets the owner $100k+ a year. If that were the case everyone would. But, everyone does have the opportunity to build a business to that level or more. Using your skills, getting help where you need it and using the momentum of the business you purchase is the way to achieve that goal.
Being prepared by having all of these items lined up before even looking for a business to buy is extremely important. If not, you will waste the momentum you bought and will need to claw for survival or get out quick.
What Are the Odds of Successfully Completing a Business Purchase?
It is interesting and important for a business Buyer to know that the industry average for putting in an offer that is accepted and that offer actually going to the closing table is 50%. Why you ask? Again it comes down to preparation. This time though, it is often the Seller’s lack of preparation that causes the problem.
As this statistic states, not every deal works out. If you are prepared, then you will uncover any possible discrepancies in the Seller’s information during your due diligence of the business. Being well prepared, you will also be able to renegotiate after these discoveries or walk away and be happy with that decision.
How Can I Make Sure That I Have Made the Right Decision to Buy vs. Build a Business?
Once you know what kind of business you want to be in, deciding how you will achieve the goal of being a business owner is extremely important. Buying a business instead of starting from scratch is a statistically better idea. BUT… it means very little if you are not a prepared/educated Buyer, which includes getting help from people with experience in buying and operating a business.
Be mentally, physically and monetarily prepared to buy a business or start one from scratch. This will allow you to go with your gut and your heart to know you made the right decision on the path you have taken. If you don’t have a fire in your belly over this exciting decision to be a business owner, then you have made the wrong choice. It’s that simple.
Why Buy a Business Vs Starting from Scratch - To learn more about this author, visit George J Sierchio's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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George J Sierchio Video - George J Sierchio - There are a few reliable sources of finding businesses for sale. There are also some awful sources. Take a look at my tips on how to best find a business to buy.
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