6 things you need to do before you buy a business
It’s fairly easy to buy a business but much harder to sell one, so before you take the plunge and lock yourself into a potentially bankrupting financial commitment, there are a number of things you need to do to ensure you’re on the right track.
1. Ask yourself some soul-searching questions
This is key. Are you really the right person to own and run a business? Are you dedicated, a hard worker, committed, a leader, passionate, self-sufficient and multi-skilled? What about your experience? Have you worked in that line of business before? Do you know how to market yourself and your business? Can you sell, juggle your finances and manage staff? You have to be a jack-of-all-trades to survive in business, and it’s a hard training ground.