Contrary to what most people believe, being an entrepreneur
is not just about making money, and is it not purely about starting, owning,
and running a small business to create value — it is a way of life and
alternative to the model of go-to-school, get-good-grades, and get-a-good-job. Entrepreneurship has historically been
defined as a process through which individuals identify opportunities, allocate
resources, and create value. This creation of value is often through the
identification of unmet needs or through the identification of opportunities
for change. But in this current economic with a dramatic decrease in consumer
spending, tight lending (or access to capital), budding entrepreneurs will (or
should) seek success by identifying opportunities for change with existing
businesses.
The current crop of new entrepreneurs, many because of the
dismal job market, will become an entrepreneur by buying a business, managing
that business, growing it, and they view this as a career decision in lieu of (or
better than) working for someone else.
Buying a business has always offered advantages over
starting one for seasoned professionals, but currently those advantages or even
greater. Some of those advantages are
- Proven concept, business model, products or services in place
- Cash flow (and hopefully recurring revenue) from day one
- An existing customer base, contracts and, vendor relationships
- Existing staff and management
- Transition of knowledge from the seller (current owner) allows the buyer to learn about running the business, which helps in gaining an insight about their experiences and also the expertise needed to keep the business competitive.
- Brand or reputation - existing goodwill is associated with the product/service, name and location.
- Lenders or financiers are more willing to lend money to an existing business with a track record.
For a complimentary consultation
Contact Cecil Williams
For more information call me at 888-925-5055 ext.206
Visit my website to search for business for sale in Florida
