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Professor Bwisa

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Strategize your startup

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You can start business by buying an existing one. Purchasing an on-going business may seem safer than starting from scratch. By buying one you may avoid those start-up headaches and costs. You may also gain the goodwill, suppliers and the customers and therefore get quick cash flow.


Nevertheless a question arises - why is the owner selling the business? Is it because he is unable to run it? Might you be buying a declining business? Has it problems with the suppliers? Is it badly located? Answers to these questions have to be found. Expert advice may be sought. If you are after all buying it then the question of valuation comes in. Again expertise may be necessary.


You may however do what most people do - start your own business from scratch. You will be risking a lot but the higher the risk the higher may be the rewards anyway. If you are planning to start from scratch you may want to consider the strategies presented in this article.

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Last Updated ( Friday, 26 September 2008 11:39 )  

THOUGHT

Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail.

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