If You,re Serious about Buying a Business - VR Business Sales Blog

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Monday, August 16, 2010

If You’re Serious about Buying a Business

JoAnn Lombardi
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A serious buyer should have the answers to the following questions before looking into purchasing a business.
  • Why are you considering buying a business at this time?
  • What is your time-frame to find a suitable business?
  • Are you open-minded about different opportunities, or are you looking for a specific business?
  • Have you set aside an amount of capital that you are willing to invest?
  • Do you really want to be in business for yourself?
  • Are you currently employed or unemployed?
  • Are you the decision make or are there others involved?
However, the real key to being a serious buyer is whether you can make the leap of faith so vital to buying a business. No matter how much due diligence a buyer performs, how many advisors there are to advise the buyer, at some point, the buyer has to make a leap of faith to purchase the business. There are no sure things or guarantees. If a buyer is not comfortable being in the business, he or she should not even contemplate the decision to buy a business.


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