Buying a business - what not to do
Rather than start a new company from scratch, entrepreneurs often choose to buy a small business instead. But many people underestimate how complex and time consuming this process can be. Our white paper sets out ten frequent mistakes people make when buying a small business.
10 frequent mistakes when buying a small business
- Assuming that finding a high-potential business for sale is a part-time job
- Failing to understand the motivation and emotions of the seller
- Failing to understand the fundamental drivers of the business' profit engine
- Doing due diligence from behind your desk
- Overestimating the value of the business
- Stretching yourself financially
- Being ill-prepared to present your business case to the bank
- Not developing a good negotiation strategy
- Underestimating the importance of culture within an organization
- Overestimating your own capabilities and underestimating the time it takes to change things
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Download the white paper