When you purchase a business, you will immediately begin to deal with the employees.  The type and size of business will determine the number of employees needed.  A profitable business will usually have long-term employees who will want to continue to work for you when you purchase the bu

When you have a successful business, it is sometimes difficult to make the decision to sell.  You have devoted your time, money, and energy to building, running, and operating your business.  People become attached to businesses and love them like they are their children or family.  T

1. Do you have the courage to take the entrepreneurial leap? Forget about the cozy comfort of the corporate environment where you can have someone else take out the trash, clean the bathroom, get you coffee, pick up your dry cleaning, etc. The buck stops with you, and you need to take 100% responsi

Once you have found the business of your dreams, you need to figure out a way to purchase it. One way is if you have the proverbial “rich Uncle” who can write a check for the entire purchase amount. The probability of this happening is less than 1%. Or you can go to your parents, sibling

If you see two businesses side by side, with one successful and the other not, chances are great that management is the difference. A well-written business plan, with goals and pro forma financials to follow, and a good policies and procedures manual help you be a successful business manager. 

In order to know where your business is going, you must have a business plan.  Without one, it would be like attempting to drive to a location with no knowledge of how to get there.  Besides being a guide, it must get the attention immediately of Venture Capitalists, Angel Investors or Ban

In our post “I Think I Want to Buy a Business.  Where Do I start?” we noted that you may want to start with lining up professional assistance to help you avoid the pitfalls of doing it yourself.  That’s what experts are for, after all:  to fill in the gaps in our per

When buying a business, what are some basic questions you should ask? One of your key objectives is to become educated about the business and the process, so that you can make an informed decision. This will minimize the risk, risk which is inherent in purchasing a business, starting a business, or

So you want to buy a business!  That is the American dream. However, there are several things you need to think about before you take that big step. I will discuss some of the practical considerations in running a small business in a later blog but for now let's discuss your decision and some o


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