BusinessMart.com strongly recommends this CD on
buying a business
. For more information read below. To purchase this book click on BUY NOW.
Here are the topics covered:
Why buy a business and what to consider
The ten commandments of buying a business
The right business for you to buy
Timing when buying a business
Where to look
Why every business is for sale and how to approach the ones that aren't
Franchises-should you even consider one?
Working with professionals when you buy a business
Financial statements-basic accounting for buying a business
The seller and their importance
Focusing your search on the right businesses
Visiting the business - the key questions to ask every seller
Gathering information on the industry and the competition
Valuing a business to buy
Negotiating the deal & making an offer
Financing the purchase
Due diligence - a 200-point checklist & strategy guide
Pulling the trigger
Closing the deal
Post purchase priorities
Here is a smaple of what you will learn in just one section of How to Buy a Good Business at a Great Price...
THE TEN COMMANDMENTS
Fundamental to your purchase is determining the most basic of factors: is this a good business? This section outlines the ten rules that cannot be bent, avoided or broken. Any business that you buy must subscribe to all ten.
For example: Buy a Business Commandment # 2- Buy A Good Business and Make It Great! Don't look to buy a cheap business; it's like a bad used car. You'll spend all of your time trying to patch 'leaks" and you'll have little or no time left for building the business. Buy a good business, a solid one, that through your talents, can grow and flourish. Start off with a strong foundation and build from there!
In this section you will learn:
Buy a Business Commandment # 1 - Pay For The Past, Consider The Present, But Buy It For The Future!
The past financials will help determine the purchase price, but they do NOT guarantee what the business will look like in the future.
You must evaluate the business for what it can expect to provide you with after you buy it. Buy a Business Commandment # 2 - Buy A Good Business and Make It Great!
All good businesses possess certain common features; you'll learn how to determine whether the one you're considering already has these in place. Buy a Business Commandment # 3 - Ingredients Are NOTHING Without A Recipe.
After the purchase, can you put all parts of the business together into one cohesive unit poised for growth, and at what cost? Buy a Business Commandment # 4 - Fall In Love With the Profit, NOT the Product!
You'll learn how this traps so many others when they get emotional about the business before they buy it and their judgment is forever clouded. You must remain objective! Buy a Business Commandment # 5 - Do What You Do Best and You'll Manage The Rest
Making certain that you already possess what the business really needs. Buy a Business Commandment # 6 - Autopilot - (can the business be put on "cruise control"?)
In order to grow any business, you must take advantage of technology - can this business improve it's systems and run on its own so you can focus your attention on driving the profits?
Where can you access the technology and what are the costs? Buy a Business Commandment # 7 - Determining What Holds "The Gold"
Nearly all businesses possess certain components that the current seller has not exploited.
You'll learn how to identify these sometimes "hidden" values. Buy a Business Commandment # 8 - The Three Personal Things That Every Business Must Possess
You MUST be able to explain it in simple terms to others.
You MUST be able to explain it with great enthusiasm.
It MUST be a business that makes you very proud. Buy a Business Commandment # 9 - Evaluating and Identifying What's Not Perfect Yet
No business is perfect and every business needs attention. Sometimes the smallest improvements yield the greatest results. You'll learn how to pinpoint all of them. Buy a Business Commandment # 10 - What's It Worth To YOU?
Only you can truly evaluate the benefits of any venture. You'll understand how to take a realistic approach to this crucial exercise.