You’re interested in buying a business and you’ve done all the research on it, so you are ready. Or are you? What should you be aware of before you buy? Let’s take a look at 5 common business buying mistakes and how to avoid them.
5 Common Biz Buying Mistakes
1. Adventures Into the Unknown: This is probably the most common mistake and the most important one to avoid. Sometimes people believe they don’t really need to know much about an industry because they will hire experts to manage their business for them. But there is a difference between delegating duties and being derelict in one’s duties. If you don’t know the industry your business operates in, how will you know if your managers are mishandling it?
