Business Thoughts for the Day...

Driving home last night through the 12 inches of snow which had fallen in Indianapolis in the past 24 hours, I got to thinking about all the businesses which would benefit from our "misery"--landscapers with trucks with snow blades, wreckers, car repair shops, body shops, hardware stores, pickup truck owner's with snow blades, neighborhood boys with snow shovels, taxis, snowmobile dealers, department stores selling cold weather gear,increased ratings for news and weather shows, etc. Nothing like Mother Nature to stimulate the economy at it's most basic level. 20 plus years of selling businesses gets one to thinking about how our economy really works and how the success of a business may be determined by external events over which the owner may have little or no control.

Important Questions When Buying A Business

Looking to buy a business? If you are going to invest your time, money and effort, the most important consideration is: DO YOU LIKE THE BUSINESS? DOES IT HOLD YOUR INTEREST? DO YOU LIKE INTERACTING WITH THE CUSTOMERS? IS IT AN ENVIRONMENT WHICH YOU WOULD ENJOY SPENDING A GREAT PART OF EACH DAY? CAN YOU RELATE TO THE EMPLOYEES? DO YOU HAVE A VISION FOR GROWTH OF THE BUSINESS OR ITS RELATED INDUSTRY? In my opinion these questions trump all financial considerations as a "no" to any ONE should mean take a pass on that business.