Do you dream of running your own business, but the startup phase seems daunting? How about acquiring an existing business that is already profitable and comes with it's clientale base?
What do you need to do?
- Assess businesses that interest you.
- Acquire the business the fits your criteria and skillset.
- Learn from the existing owners on how to operate the business.
- Take over the business and operate it yourself.
- Grow the revenue and bottomline
Benefits of acquiring existing business
- Skip the product market fit and starting out phase. (High risk phase)
- Manage a profitable business right at the onset.
- Don't worry about office politics, retrenchment and lack of career progression.
Cost of being an acquiring business owner
- You are 100% responsible for the business outcome.
- Be prepared to work really hard for the dough.
- You will have to come up with the financial resources to acquire the business.
Macgyver Ng Teow Poh
EA License No: 23C1562
Registration ID : R1113526
