Should You Buy Another Business?

One of the best ways for a business to grow is through acquisition. It’s not always easy, though, to know if acquiring a given business is a good idea. Fortunately, the inc.com blog offers some help.

Last week’s Ask Gerber feature, Scott Gerber gives the follwing advice to people thinking about buying a business:

  1. assess what it will do for the bottom line. The business you’re buying should be complementary to your existing business.
  2. Do your own due diligence work. Don’t just trust the current owner’s paperwork or word.
  3. Make sure it fits your brand strategy. You don’t want to contradict what you’ve already got going on.
  4. Consider keeping the management team. It will help with a seamless transition.
  5. Identify other advantages. Make sure you’re really getting something worth the cost.
Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.