Friday, June 22, 2007

Buying A Business - Ask These Simple Questions:

Too often I see people in jobs making a living but not really living. I know people who make a great income but have no freedom to enjoy their income. I've heard some say I work to live and others say that they live to work. If you live to work then you have found a job you enjoy, that you have fun with and that is great.

If you are thinking about getting into a business for yourself ask yourself if you are buying job security or job satisfaction? In other words, a business you would enjoy? Yes you need to make a good income from the business so you can continue to enjoy the lifestyle you are accustom too but, will it bring you to a higher lifestyle that you may enjoy even more? Will it afford you the opportunity to enjoy your income with your family and friends? What lifestyle are you buying with this new business? One that ties you to the desk or a food preparation counter or, provides you freedom to make choices of when you work or not, take a vacation or not, take a few weeks vacation or only one week.

Too often we look at the numbers to make a decision before we buy a business which is a necessary decision step but, also too often we don't look at our happiness in the business.

Let me leave you not only with my questions posed above but also with a quote from someone I admire, me. :)

“With fun comes passion, with passion comes success”

4 comments:

Ray MacNeil said...

I'm not sure I see the connection with this blog post. However, I'm all for fuel savings given the rising fuel costs here in Canada. Now, if you can find the energy efficient system for business people that allows us to do more with less then we are talking. :)

Unknown said...

I know I'm a year late, but I just wanted to say great article. I'm looking to buy a business, so this will come in handy. Trouble is, I'm not sure where to go to find a business to buy. Any suggestions? Thanks!

Unknown said...

Jess, I suggest checking out your local Chamber of Commerce. They should be able to help you. It's also just a good way to network. I also suggest looking at BizTrader.com. It's a global marketplace for small business. You can buy, sell, or invest in one. There's a wide selection of businesses. Definitely check it out sometime and good luck.

Ray MacNeil said...

Thanks Jess for the compliment and thanks Genevieve for your direction to Jess. A great website for franchise and business info including peer rankings is: http://www.entrepreneur.com/ Another source is business brokers. Matchpoint is a respected broker: http://matchpoint.com/ but many brokers across the US and canada can be found in the Internationl Business Broker Association member roster at their website: http://www.ibba.org/Home/tabid/36/Default.aspx

Keep me posted on your progress and decision. If you have any further questions send me and my readers another comment on this original post.

Good luck and great success.

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