Take Five #085: 16 questions to ask when buying a business, and more
Codely v2.0 public release is here
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What has changed in our latest release?
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All new features available for all public channel users
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Coding collaboration with over 200 users at once
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Real-time code save every 0.1 seconds
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Take Five #085: 16 questions to ask when buying a business, and more
1. Systems and exercises new owner-operators can use to streamline processes and improve efficiency
Taking over an operation, particularly one that is experiencing turmoil and suboptimal performance, is akin to stepping into a complex puzzle where every piece needs to be reevaluated and repositioned. The foremost step in this intricate process involves strategic alignment – pairing the best resources with the most effective outputs. It's a task that demands a keen understanding of both the human and operational elements of a business.
This alignment is not just about resource management; it's about unlocking the potential of every aspect of the operation to transform challenges into opportunities for growth and efficiency.
In this guide, we'll explore an activity I often do in new situations to ignite a turnaround and to effectively manage this transition, turning a struggling operation into a thriving, well-oiled machine.
Read the rest of Joshua Schultz’s post here.
2. Buying a Business as an Asset Acquisition: How to allocate purchase price to assets and minimize taxes
3. What to consider when choosing a business partner
4. 16 questions to ask when buying a business
While every CIM is different (short vs long, good vs bad), a business buyer should be asking themselves a number of critical questions, someof which are hopefully answered by reviewing the CIM and some that will be answered in live conversations with the broker and seller.
Answer as many of these questions, as quickly as possible, in order to save you time and ensure you are pursuing opportunities that are worth your time. Your goal is to attract deals that fit you and repel deals quickly that are bad for you. Your qualifying questions should be prioritized to identify the things you care about most or are deal killers for you.
Read The SMB Scoop’s complete list here.
5. How unreported leaseback rental expenses can impact post-sale profits and losses (and eat up your error margin)
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