ig picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks"The Big Buy"

Building a business takes a heap of guts and determination along with a single minded passion and focus for the journey. I have built and sold business with another one currently in the process. How do I do it? If your buying an existing business look closely at all the workings i.e. Financial status, Management and their focus/style, customers, staff, assets, operational base, Marketing and professional ethos.

Once you have done this look again and again. I call it the Goldie Locks approach. Be bearish in your diligence and cheater like in your research. Information and knowledge is key because the seller/s have a mile more than you at the moment, so you have to change the balance. Think along the lines of you being their business adviser but handing the report to yourself. If you have done the research the vision based on facts just needs the practical application to make it work.

Resist the plan of buying a business for emotional reasons. Sure you have to enjoy what you're doing but don't let the warm and fuzzes drown the big picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks.

ook closely at all the workings i.e. Financial status, Management and their focus/style, customers, staff, assets, operational base, Marketing and professional ethos.

Once you have done this look again and again. I call it the Goldie Locks approach. Be bearish in your diligence and cheater like in your research. Information and knowledge is key because the seller/s have a mile more than you at the moment, so you have to change the balance. Think along the lines of you being their business adviser but handing the report to yourself. If you have done the research the vision based on facts just needs the practical application to make it work.

Resist the plan of buying a business for emotional reasons. Sure you have to enjoy what you're doing but don't let the warm and fuzzes drown the big picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks

your diligence and cheater like in your research. Information and knowledge is key because the seller/s have a mile more than you at the moment, so you have to change the balance. Think along the lines of you being their business adviser but handing the report to yourself. If you have done the research the vision based on facts just needs the practical application to make it work.

Resist the plan of buying a business for emotional reasons. Sure you have to enjoy what you're doing but don't let the warm and fuzzes drown the big picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks

rself. If you have done the research the vision based on facts just needs the practical application to make it work.

Resist the plan of buying a business for emotional reasons. Sure you have to enjoy what you're doing but don't let the warm and fuzzes drown the big picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks

ig picture. I think too many people get an initial adrenalin rush about the prospect of owning a business and then fall in a mile long pit because they have not side stepped this aspect and gone on. A good hard look at the venture means you cover most of your tracks. This may sound strange but as part of your due diligence look at and think about an exit policy, meaning why and when you will leave the business. Also how you're going to plough the fields." Why is he talking about fields", you may ask, well by this I 'm talking about, what you will do with your customers, the core group that are currently buying from the business or being serviced.

At the start I mentioned passion along with focus. By following through and turning these words into actions in business and your other pursuits in your life, ones eyes open wider.

In my own world for many years I was following a life of “now is the hour" not much planning going on but plenty of projects. Events taking place with little if any thought for their method of implementation and longevity. Then a light was switched on by a gent who had taken the time to teach me a few notes on the saxophone. We had finished a lesson and I was packing up while explaining a new job I was about to take on. I was petrified about the prospects of failure. He said “Take a Bite