What Are the 3 Things You Need to Know Before Buying a Business?

Keep What You Earn

In today's episode, Shannon dives into the three critical things you need to know before buying a business - people, process and profit.

When evaluating a potential business acquisition, Shannon explains, you must carefully consider the people involved. Is the owner essential to day-to-day operations or is there a strong team in place to carry on if the owner exits? Understanding the dynamics and alignment of the team is crucial. Whether you're looking to buy a business or positioning your own company to sell one day, mastering the three P's will set you up for success. Tune in as Shannon walks through how to evaluate a business acquisition target and shares tips for building a sellable business yourself!

What you'll hear in this episode:

05:09 Solid processes key to business growth and saleability.

10:38 Cody Sanchez's advice: Focus on people, process, profit.

If you like this episode, check out:

You Don't Actually NEED An Accountant

Why You May Want a C Corp in Your Business Structure

Listen to This Before Creating a Partnership

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.