When considering purchasing a legacy business, there are important factors to consider as part of the decision-making process. There are numerous advantages compared to starting a business from scratch, but there are also some challenges.

It's important to know the value of your business, no matter where you are in the business lifecycle. It's even more critical if you're looking to sell soon. Building a valuation of your business will help you understand your company's total worth, making it easier to pitch to potential buyers.

The process of buying or selling a business can be lengthy, but following these steps can make the process much easier

Have you ever considered that the day may come when you are faced with the decision on whether or not to sell your business? It is a daunting thought to have your business fully exposed to the harsh light of a buyer's accounting, legal, and tax reviews. Preparing your business for future sales is a stressful concept, and few business owners are genuinely ready for the process.

Productivity struggles are real, and sweeping away the tasks, people, and situations that pull on your time, money, and energy will help improve your focus and, in turn, your business.

Anything can happen, so make sure you have an exit strategy in place so your business can succeed in the case of an unfortunate future.