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What Are the 3 Things You Need to Know Before Buying a Business?
Manage episode 434338776 series 3420908
In today's episode, Shannon dives into the three critical things you need to know before buying a business - people, process and profit.
When evaluating a potential business acquisition, Shannon explains, you must carefully consider the people involved. Is the owner essential to day-to-day operations or is there a strong team in place to carry on if the owner exits? Understanding the dynamics and alignment of the team is crucial. Whether you're looking to buy a business or positioning your own company to sell one day, mastering the three P's will set you up for success. Tune in as Shannon walks through how to evaluate a business acquisition target and shares tips for building a sellable business yourself!
What you'll hear in this episode:
05:09 Solid processes key to business growth and saleability.
10:38 Cody Sanchez's advice: Focus on people, process, profit.
If you like this episode, check out:
You Don't Actually NEED An Accountant
Why You May Want a C Corp in Your Business Structure
Listen to This Before Creating a Partnership
Want to learn more so you can earn more?
5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
646 tập
Manage episode 434338776 series 3420908
In today's episode, Shannon dives into the three critical things you need to know before buying a business - people, process and profit.
When evaluating a potential business acquisition, Shannon explains, you must carefully consider the people involved. Is the owner essential to day-to-day operations or is there a strong team in place to carry on if the owner exits? Understanding the dynamics and alignment of the team is crucial. Whether you're looking to buy a business or positioning your own company to sell one day, mastering the three P's will set you up for success. Tune in as Shannon walks through how to evaluate a business acquisition target and shares tips for building a sellable business yourself!
What you'll hear in this episode:
05:09 Solid processes key to business growth and saleability.
10:38 Cody Sanchez's advice: Focus on people, process, profit.
If you like this episode, check out:
You Don't Actually NEED An Accountant
Why You May Want a C Corp in Your Business Structure
Listen to This Before Creating a Partnership
Want to learn more so you can earn more?
5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
646 tập
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