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Buying a Business Ep 7 - Top 5 things to watch out for when buying a business
Shaz explains exactly what you need to understand and be aware of when you are buying a business.
If you understand exactly what you want to achieve then you can make sure that any business you buy will help you to on the journey to reaching your goals.
Make sure you spend time finding out what the right business is for you, know the motivation of the seller and never get emotionally involved if you want to buy a business that will work hard and achieve for you.
KEY TAKEAWAYS
- Know exactly what you want to achieve and buy businesses that will help you achieve your goals.
- Spend time researching the right business for you
- Those who know what they are doing pay good money for the right business
- Know your limits, don’t get emotionally involved and when you are negotiating know your red line.
- Be clear on how you are going to fund the purchase and the initial capital required
- Have a backup plan and ideally two backup plans
- Always understand the motives of the seller and the motive for selling
- Have a good understanding of the industry where is it now where is it heading
- Make sure you know enough about the sector you are buying into
BEST MOMENTS
‘Dare to be bold and big when setting goals’
‘Have goals for the businesses you buy’
‘I have very clear non-negotiables and they are non-negotiables for a reason’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
View all episodes
By Shaz NawazShaz explains exactly what you need to understand and be aware of when you are buying a business.
If you understand exactly what you want to achieve then you can make sure that any business you buy will help you to on the journey to reaching your goals.
Make sure you spend time finding out what the right business is for you, know the motivation of the seller and never get emotionally involved if you want to buy a business that will work hard and achieve for you.
KEY TAKEAWAYS
- Know exactly what you want to achieve and buy businesses that will help you achieve your goals.
- Spend time researching the right business for you
- Those who know what they are doing pay good money for the right business
- Know your limits, don’t get emotionally involved and when you are negotiating know your red line.
- Be clear on how you are going to fund the purchase and the initial capital required
- Have a backup plan and ideally two backup plans
- Always understand the motives of the seller and the motive for selling
- Have a good understanding of the industry where is it now where is it heading
- Make sure you know enough about the sector you are buying into
BEST MOMENTS
‘Dare to be bold and big when setting goals’
‘Have goals for the businesses you buy’
‘I have very clear non-negotiables and they are non-negotiables for a reason’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
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