Entrepreneurialism
Buy A Business Without Ever Worrying About Whether Or Not It's A "Dog" With Lots Of Problems
If you're looking at a business to buy, and want to be able to tell if the seller is holding back "bad" information from you about the business, then this article will show you how to identify when this happens and exactly how to deal with it so you come out on top.
First of all, and this may sound simplistic, if you stay away from turnaround dogs and sleazy sellers (and your gut level will tell you that if you listen to it) and if you are looking at a good business, making a good profit, the seller is very glad to tell you exactly what he?s doing.
In fact, nine times out of ten he?s going to be bragging about it.
The only ones that hide things from you are the flakey ones that own a restaurant, for example, and tell you wild stories about the "skim" they have -- and that sort of thing. But as soon as you run into somebody like that, what you should do is walk away. No arguing, no negotiating, no trying to "coax" information out of them. It's a waste of your time.
And besides, I can tell you from 50 years of buying businesses and dealing with all kinds of different people, the average person is going to give you all the information you want and need. Not getting the information is actually the exception...not the rule.
If you're really worried about this just go out and look at a couple of businesses as if you?re going to buy them and see what happens. What you?re going to find is the average seller is a nice person to work with and is going to treat you very well...because he or she who has the cash does the talking. And you?re going to find them very willing to give you all the information you want.
Arthur B. Hamel has bought over 200 businesses in the past 50 years, and is a well-known author, consultant, investor, business owner, and dynamic lecturer who has shared the stage with such business greats as Robert Allen of "No Money Down" fame. For the past 20 years Art has taught thousands of people around the world -- even so-called "little guys" with no formal education or money -- how to quickly and easily buy large, multi-million dollar businesses with no credit, banks or prior business experience. He has recently decided to share his unique business-buying secrets and tactics free of charge at: http://arthurhamel.com
Art Hamel
Tags: buy a business, buy sell business, Franchise, business, business business, business opportunitySimilar articles
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Reporters would say, you mean they gave you guys a Nobel Prize for something as obvious as that [Modigliani & Miller theorem of corporate valuation]? And I’d add, Yes, but remember, we proved it rigorously.
Merton Miller