Podcast

Should You Be Buying A Business?

Episode 47

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About The Show

Buying a business can be a challenge at the best of times. But when you add blind emotion into the mix it can be a disaster. We share the story of Barry and Angela this week who had a life long dream of owning their own business. Angela, a full-time teacher on a great steady salary, Barry an electrician who had been on the tools all his life since leaving school.

They dreamed of becoming their own bosses and take back control of their lives and financial freedom. In this episode, you will hear Barry and Angela’s story and the process we went through to make their ultimate decision.

What You'll Learn!

  • The difference between dreams and reality when it comes to deciding if you should be buying a business.
  • The importance of keeping emotion out of the business buying process
  • Why doing your homework and proper planning before financially committing to buying a business is critical to achieving your goals.

Links Mentioned

The E-Myth, Michael Gerber dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. He walks you through the steps in the life of a business from entrepreneurial infancy, through adolescent growing pains, to the mature entrepreneurial perspective, the guiding light of all businesses that succeed. He then shows how to apply the lessons of franchising to any business whether or not it is a franchise. 

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Full Episode Transcript

CHEAT SHEET!

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Cashflow is critical to success in business. You can have the best business idea ever, but if you can’t generate cash and pay the bills you won’t survive.

Grab my 12 simple ways to boost your cashflow cheatsheet!

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