Buying & Exiting a Business
“Competitive advantage comes from Out-Working, Out-Learning & Out-Thinking your competition”
- Bruce Campbel
There is a saying: If you don't know where you are going, any road will get you there.
To achieve business goals, a business owner needs a clear and concise road map to lead them through the business buying process. From knowing what business loans or business grants you are eligible for, to identifying potential business opportunities, when buying a business, it is essential to know what to ask for and how to analyse the information once you have received it.
Here are a few questions to get started with the process…
- What is it exactly that you want to get out of business?
- What is it exactly that you want to get out of life?
- Who will be involved in the business - Partners? Team? Advisors?
- How are you going to go about improving the business once you purchase it?
- How many hours do you want to work in the business?
- How many hours do you want to work on the business?
- How long do you want to own this business?
- What are your financial goals in buying a business?
Something else to keep in mind is the phrase “Begin with the End in Mind.” The concept is to start and then run a business with the mental attitude that the end game is to eventually exit the business and know the desired result to come out of that in the end.
Whether it is buying a business, or exiting a business, Global Business Coach, Bruce Campbell, guides business owners through the processes from start to finish to ensure that all practises are in place and that every aspect of the purchase or exit is covered.
Bruce can help define the rules, set targets or goals and find the solutions for investing in a business, or offer advice and strategies in preparation for exiting a business.
If you would like more advice or ideas on how to buy or exit a business, get in touch with us today.
Videos on Buying & Exiting a Business
Business Buying Rules
How to Buy a Business
How to Create a Business Plan
How to Value a Business
Three Major Dials