Buying a Small Business Involves 6 Key Phases That Many Potential Business Buyers Do Not Understand.

Do You Know What it Takes to Quickly and Successfully Purchase a Small Business?

How do you go about buying a small business? What’s involved in the process? (Get a head start with free tips on preparing to buy a business with this free video.)

You’ve come to the right place to figure that out. This site contains the tips on purchasing a business that you're looking for including: preparing to become a business buyer, how to choose the right businesses to look at, valuing a business, making a viable offer, running through the due diligence process and closing the deal.

Don’t Be on the Wrong End of the Statistics When Buying a Small Business

The biggest mistake most people make regarding buying an existing small business is not being prepared. This is the reason why many people never actually pull the trigger and buy. As a matter of fact, that statistic is around 90%. That’s right- approximately 10% of all people who look for a business to buy actually do it.

Preparation starts with really being ready for the roller coaster known as being a business owner. Only then can you think about what type of industry you would like to be in and what would best suit your abilities. Do you need a partner? That's a very important question to ask yourself and include as part of your prep work.

How much can you afford to pay for a business? How are you going to fund your business purchase? The answers to these questions and many more will ensure you that you are ready to hunt for your future business. Without being ready to purchase, you will end up being on the 90% end of this statistic, causing you to waste an amazing amount of time and energy. Do yourself a favor and be a 10% buyer!

Buying an Existing Small Business is a Matter of Following the Phrase: "Ready, Aim, Fire”

Everyone knows the term “Ready, Aim, Fire”. If you are schooled in what is involved with buying a small business and properly prepare for the process before you jump in, this is how it works. Most people fail to buy a small business or fail to make a good purchase because they are not “Ready” first. And this is not just an issue with first time buyers.

Most people ignore the “Ready” portion and that leads to no “Aim” or no “Fire”. For those with no “Aim”, it means they will look for a business based on “Fire, Fire, Fire”. Basically they are just shooting their gun into the wind and hoping it hits something they like. This will most likely lead them down the path of buying a small business that does not fit their needs or their background. These people will become business sellers very quickly.

For those who prefer to “Aim, Aim, Aim”, they follow a different path. They quickly become a nuisance to sellers, brokers and anyone else who tries to help them because they can’t pull the trigger. That’s a huge waste of time for them and everyone else. These people often troll around for 12 to 24 months and never buy a thing.

Buying a Small Business is Your Goal... Making Sure That Happens is My Goal

My goal is to make sure you are the successful business buying type. Additionally, I want you to be a successful business owner, not just a prepared buyer. I want to supply you with the help for buying a small business that is absolutely necessary to realizing your dreams of being a successful and happy business owner.

“Ready”- Be prepared to buy a small business mentally, physically and monetarily. Know what you are looking for before you start looking and have the funds for buying a business already figured out. Already have the tools for valuing a business in the industry you want to be in so you don’t waste any time when you find something you like.

“Aim”- Look for the specific business you have prepared for in the price range that fits your plan. Know where to look and know when you have found a business worth pursuing into the due diligence process.

“Fire”- Be able to jump into a business purchase letter of intent for that great opportunity you just found and perform a quick and concise due diligence process. If it fits your plan completely, you can move forward with confidence and purchase the business. If it doesn’t, you can drop it and move on without second guessing yourself.

Don’t Make the Same Mistake That Many So-Called Business Buyers Make

If buying a small business is not something you have done before, or even if you have and the process was not satisfying, then take the time to do it right. Owning a business is a very liberating and enlightening experience. Don’t let a bad buying experience ruin that potential.

Accountants, Attorneys, Brokers, and Advisors all have their place in the process of buying a small business and subsequently operating that business. So does the buyer. Do not take yourself out of the loop and rely completely on other people. Ultimately, this is your baby and it needs to fit your needs and skills or it’s a bad business purchase no matter how you look at it.

Make Your Small Business Hunt and Purchase a Success with Expert Advice on How to Buy a Business

If you are seriously looking to buy a business in the USA, this site is where you will find everything you need to know to keep your search quick and concise.

No theory here. Just practical expert advice on how to buy a business based on my experience of being a buyer, seller, advisor and broker in business buy/sell transactions.

Any questions not answered within this site? Then check out the BBH Club Here to find a wealth of videos (updated monthly) and a place where you can get your questions answered from our experts.

Sincerely-