Comments on: Shedding Some Light on Buying a Business: Part 2

By: Gregg Blanchard

Gregg Blanchard — Tue, 15 Jul 2008 18:18:21 +0000

Having been through a rebuild of a business, I have to say I much prefer starting my own to taking over a previously started business. Although, it does eliminate the months of 14 hr days trying to get your little baby up and running…which is guess is nice, but that is sometimes part of the fun!

By: Dion

Dion — Fri, 06 Jun 2008 11:34:14 +0000

Thanks, Mike. There are so many unexpected circumstances that can arise from buying a business that one can’t foresee. I’ve heard stories of someone in the due dilligence stage of buying a business and found that the company had a mortgage for someone elses house and had debt from breast implants for the secretary that didn’t even work there any more. That’s just what he had found, imagine what was hidden beneath the surface.

By the way, I like your concept at Obsidian Launch.

By: Mike Michalowicz

Mike Michalowicz — Tue, 03 Jun 2008 19:53:42 +0000

Interesting topic. Something I am seeing on a few blogs right now.

In regards to your comment: “A bad corporate reputation or poor customer perception can be something that comes along with the business you bought, and that’s very tough to foresee”… I couldn’t agree more.

I have been on both buy/sell side and it is the intangibles that get you every time. You nailed that on the head.

- Mike

By: Matthew Castro

Matthew Castro — Tue, 03 Jun 2008 05:50:20 +0000

I understand where you’re coming from John. I’m also a student, and building a business part-time, from school and all, takes up a lot of time and money.

But Sell Websites is right in reinvesting into your business. Such as keeping your day job, and applying a set percentage of that to the business you want to buy.

By: Sell Websites

Sell Websites — Fri, 30 May 2008 23:44:41 +0000

John,

One of the best ways to get started with no money is to provide a service. All you need is a skill and time. Print out some flyers and start selling your service.

As you get revenue reinvest it back into your current business or save it to invest into your next venture.

By: Dion

Dion — Fri, 30 May 2008 04:40:39 +0000

I know exactly what you mean, John. There’s pro’s and con’s to each avenue, and money is always a major factor.

By: John Peden

John Peden — Thu, 29 May 2008 08:41:18 +0000

As a student with next to no money or income, I’d always lean on starting my own business in order to bootstrap the whole process. I’d definitely consider buying multiple businesses later in life though.