Tweet

Finding the Right Business for You

Written by: Rob Keating

Article Overview: What are your key skills? Is the business or industry you are looking into the right one for you?

Finding the Right Business for You

So you want to be your own boss but you’re not sure where to start. Perhaps you have an idea or are still looking, waiting for that ideal business opportunity to present itself.

Owning and operating a business takes up a significant chunk of your time, so when searching for a business, perhaps the single most important factor to consider, is that it must be something that you will enjoy. Secondly, if you have specific skills then immediately you are adding value to the business - although some skills can be learnt on the job or imported.

Contact key brokers who operate in your area of interest. Regularly check what’s on offer in newspapers and through internet sites like nzbizbuysell.co.nz. If you are seeking something specific, then get to know the appropriate associations and let them know you are interested in buying a business. Look to advertise for what you want - ask your accountant or anyone else who may have contact with potential business sellers. Be patient - the path to identifying the right business can take time.

Contact a Business Broker
Business brokers are often used in selling business; they will be happy to discuss your needs as a buyer and will generally have several businesses on their books for sale at any one time. Some specialise in particular areas and will be able to offer industry advice and opportunities. Remember that the broker works for the seller and that the better the sale price, the better their commission. Visit several brokers to gain a complete picture on what’s on offer in your area of interest. No one broker will hold all the option, develop a network with key operators that can help you and make sure you brief them well on what you are looking for.

Check the Internet
Go online and search key New Zealand “Business for Sale” sites. These are often content rich with good descriptive ads of what’s on offer; generally you can specify the type of business, location and price range. If you cannot find what you are looking for, then maybe you can place a free ad under a “Businesses Wanted” section. You could also check out any Broker Directory’s and call one of the listed brokers and ask them if they have any other listings.

Print Media
Search the classified section of your local newspapers. Often the businesses advertised don’t go into much detail and you will need to get busy on the phone to filter out those that aren’t suitable. Be prepared and have a list of key questions ready. Find out exactly what they are selling, what the market is, the opportunity, why they are selling and the asking price. Trade journals and magazines are another place to look and will in some cases run a section on business opportunities.

Information provided by www.nzbizbuysell.co.nz.

Related Articles
  Increase Sales Coaching Tip: Understand How the Nos Get You Closer to the Yesses
  The Value Of Finding The Right Niche Market For Your Website
  Cultural Differences with Sales Force Evaluation
  Finding Your Niche – Love What You Do
  Steps to a Successful Franchise Experience

Article Tags:



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: Email Marketing - Yes, true. What kind of changes happened in Email campaigns except the opt-in? Finding the exact target and reaching them is always a challenge. What new methods can we have to reach the new customers? Thanks Robert
Re: Where is the best place to find a web developer? - That's a really tough one. Finding a business partner is like finding a wife - it takes a lot of trust to get the right one. I would try to hang out at tech-related startup events and see if you hit it off with anybody. Good luck!
Re: Hello from Missouri - I have been unsuccessfull thus far finding an online resource of people who operate in the market I'm serving. Finding those people are a big part of why I posted here, but I'm not certain this is the right area either. The search continues...


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

The five pillars of internet marketing strategy

12 Principles to Spark Innovation

What I Really Want Is...

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.