Acquisition 101
There are several reasons you may be considering a business acquisition; you prefer to acquire an existing business as opposed to starting your own, you wish to increase your market share, you’d like to tap an unassociated market, or even if you’d like to expand your business offerings. Regardless of your reasoning, the initial scope is the same; due diligence, due diligence, due diligence.
Check Your Mirrors
One of the most well-known “coming of age” milestones happens when we learn to drive for the first time. It is such an exciting and scary moment in life, and is chalk full of new information and motor skills to learn. Before we even start the car, we are educated on safety precautions; seat belt on, seat at an appropriate height and reach, hands at 10 & 2, and to check your mirrors. As with driving, running a business requires us to constantly check the mirrors.