How to buy a business
I've been a business owner for about five years now. About six years ago, I thought that running a business would be easy for a smart guy like myself. If I didn't know the area, I'd hire somebody who did.
So I went ahead and put my life savings on the line and bought a business (well, a good chunk of a business). This turned out to be a rather rash decision, because: guess what? There is a whole science to business that you just don't have time to reinvent as a business owner.
I'm considering going back to school to get my MBA, but I don't know if I can stand the young kids who will be my classmates. I've also been looking at Trump U, which promises that I can Learn the Art of Buying a Business. Mainly I am attracted to the impressive list of faculty at Trump U. Also, this is a home study course with access to the teacher for Q&A, an arrangement that would allow me to maintain my extensive day-to-day interaction with my own business. I am very impressed with Trump University.
Link: Learn the Art of Buying a Business
So I went ahead and put my life savings on the line and bought a business (well, a good chunk of a business). This turned out to be a rather rash decision, because: guess what? There is a whole science to business that you just don't have time to reinvent as a business owner.
I'm considering going back to school to get my MBA, but I don't know if I can stand the young kids who will be my classmates. I've also been looking at Trump U, which promises that I can Learn the Art of Buying a Business. Mainly I am attracted to the impressive list of faculty at Trump U. Also, this is a home study course with access to the teacher for Q&A, an arrangement that would allow me to maintain my extensive day-to-day interaction with my own business. I am very impressed with Trump University.
Link: Learn the Art of Buying a Business
posted by jerry at 8:56 AM
2 Comments:
Nice post. I want to run my own business soon, so I'll remember this one. I know it'll be challenging, so I can use all the help and advice I can get. I've been thinking about buying a business lately instead of starting one from scratch. Maybe a franchise? I don't know. Do you have any suggestions or advice? Thanks!
@Lisa T. -- Yeah, regardless if you start one from scratch or buy an existing one, running your own business will be tough, but it’ll be rewarding in the end.
If you do take the buying route, there are a lot of sites you could check out for one. There's one called BizTrader.com. It's like this an online global marketplace where you can buy or sell a business. It has useful tips and advice, and you can also use it to find a lender or broker. Not bad at all.
Then there are always the small business groups in your area. They should be able to provide help and advice. If anything, it doesn't hurt to network.
Good luck!
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