7 Best Practices to Follow When Buying Small Business

Posted by AngelBiz under Management
From http://www.smallbizviewpoints.com 4488 days ago
Made Hot by: Sun Tzu Business Guide on August 10, 2012 4:57 am

Very few decisions have as much impact on your life as the decision to buy a small business. This post shows best practices to follow before making a decision.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by AngelBiz
4484 days ago

@HeatherStone - Good points. Agreed.

- 0 +

Written by HeatherStone
4483 days ago

Thanks again for the great post, Harry. :)

- 0 +

Written by HeatherStone
4486 days ago

Hi Harry,

I think an important question often is whether you would be better off building your own business than buying an existing one as you say and the key factor there would be whether the business itself has any intrinsic value that might be difficult to reproduce (key talent, proprietary technology, loyal customer base, etc.) Then again, it could also be that you are buying another business not so much for its customers or the revenue it is already bringing in but because it can help your existing business do something that would be difficult and time consuming to reproduce. The initial purchase of PayPal by Ebay was probably made for reasons along these lines.

- 0 +

Written by BizRock
4488 days ago

True. Its very big life decision to buy or not to buy small business. Its very important to be smart and not to rush in something what you still don't really know.

Thank you for sharing this advices!

- 0 +