It’s amazing how many people really don’t know where they want to go when it comes time to #buying a business. Entrepreneurs know that they want to get into / back into / change gears in their business ownership life, but they don’t quite know where they want to go.
If the purpose of being entrepreneurs was simply to make money, the business you buy would be a simple choice – the one where you will make money fastest.
Now for most for most of peoples, we need to narrow the focus down further, and the best place to start is with yourself.
This is where you have to look inward and see where your passion and capabilities lie. Consider these questions as you prepare to look for a business to buy:
Do you have the skills to be successful in the industry you are going into?
What work experience do you have? Is it in line with the business you are looking at or is it a far departure?
What do you enjoy doing? Is a business available within your passions?
Do you enjoy dealing with the public? Are you ready to be the face of your business?
Whatever it is – accounting, auto repair, writing, or retail sales, your best bet is to find a business in a field you already know – and one where potential customers already know you.
Once you understand these things, you can start to make an intelligent, informed decision on a business.
To learn more about purchasing a business, contact Sofiene Mankai at (438) 765-5838 or fill out our contact form here.