From the course: Become Your Own Boss
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Buying an existing business and internet businesses
From the course: Become Your Own Boss
Buying an existing business and internet businesses
- Now once you make the decision to start a business, the next thing you got to figure out is what kind of business are you going to start. There's lots of options out here, so I want to run you through some of the things you might want to consider. First and foremost, you can buy an existing business. Now, the good thing about this is if you buy an existing business, one thing they already have is customers and revenue, and that's actually a big plus. But here's the thing about buying an existing business, you always want to do your due diligence and you want to find out the real reason why the people are selling. So it's very important that you don't just take what they say, but talk to their customers, talk to their employees. Spend some time dating the business you want to buy before you just jump out there and buy it because you could be buying somebody else's nightmare. Now, the second kind of business you want to…
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