Why Making the Buy/Sell Decision Is Important
It's important to know the differences between buying a business and starting one from scratch, especially in terms of your current personal and financial situation.
How to Decide Whether to Start or Buy Your Business
- Analyze your current situation.
- Estimate the investment and financing options of your alternatives.
- Select the option that best fits your situation.
What May Happen If Not Done Properly
You own a business that is a financial and/or emotional burden on you.
What MyBizPath®Does For You
MyBizPath® helps you define what type of business investment will match your skills and financial situation.
1. Analyze Your Current Situation
- MyBizPath® provides you a questionnaire that helps you uncover the skills and interests that are important when deciding to get into business for yourself as well as a template to analyze your personal financial situation.
- Your MyBizPath® advisor guides you through the process of deciding whether to buy a business or start your business.
2. Estimate the Investment and Financing Options of Your Alternatives
- MyBizPath® provides you a template to compare the financial implications of the different options you may choose.
- Your MyBizPath® advisor helps you assess the reality of your current situation.
3. Select the Option That Best Fits Your Situation
- Your MyBizPath® advisor provides you with information on different options and guides you through the process of choosing to buy or start your business.
When to Start
After you have completed your "Personal Strategy" Plan.