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Casual Articles - Buy A Business Without Breaking A Sweat... Even With A Big, Fat Bankruptcy On Your Record
No one should be fired and be surprised about it. There are always warning signs. The trick is in learning how to recognize the signs and to have a plan of action. Many time subtle hints are given that allude to the ax falling.Here is a checklist of ear
Why?
Because you now have taken on a persona of that business you bought.
This is one of the most frequently asked questions in starting a restaurant, and one that people often get wrong by seriously underestimating the actual answer.That may not be a problem, if there is plenty of cash in reserve and sales pick up quickly, o
Realize this: I've been doing this for over 50 years and I don’t remember anyone in the last 30 or 40 years who used investor financing where -- even if they had filed bankruptcy -- anyone checked on them. Not the owner or the broker or anyone else. And if they did check on them, they really didn't care.
Why?
Simply because What happens is if you have a poor credit rating or if you have a bankruptcy that’s only going to be important to the owner or the bank or some other lender if they are going to be giving you financing.
What you’re going to find is, I hate to this, they don’t check. Do they occasionally? Probably, I’m not aware of it, but I don’t remember the last time that came up, but I do remember every week talking to people that filed bankruptcy or had terrible credit, and it’s not important because what happens is you’re focusing on you the buyer.
This is why I always say don’t start a business and don’t buy some little donut shop -- because you'll usually have to get traditional financing where things like your credit actually matters.
But when you buy something larger -- a million dollars or more -- the people coming in, the people putting the money up, the people checking are going to see the business, not you.
In fact, you can be a flake today and just filed bankruptcy and have no money and don’t pay anybody. Tomorrow, when you take over that business, you can go out and buy it. As soon as you go into escrow, they’ll deliver a new Mercedes to your house. You can go out and buy a ten million dollar house.
Why?
Because you now have taken on a persona of that business you bought.
The stresses of long working days are getting to Australian employees, with 25% saying they would like a plug-and-play room at work in order to partake in a bit of escapism during the work-day, A further 25% say they would like to see the introduction of a med
Why?
Simply because What happens is if you have a poor credit rating or if you have a bankruptcy that’s only going to be important to the owner or the bank or some other lender if they are going to be giving you financing.
What you’re going to find is, I hate to this, they don’t check. Do they occasionally? Probably, I’m not aware of it, but I don’t remember the last time that came up, but I do remember every week talking to people that filed bankruptcy or had terrible credit, and it’s not important because what happens is you’re focusing on you the buyer.
This is why I always say don’t start a business and don’t buy some little donut shop -- because you'll usually have to get traditional financing where things like your credit actually matters.
But when you buy something larger -- a million dollars or more -- the people coming in, the people putting the money up, the people checking are going to see the business, not you.
In fact, you can be a flake today and just filed bankruptcy and have no money and don’t pay anybody. Tomorrow, when you take over that business, you can go out and buy it. As soon as you go into escrow, they’ll deliver a new Mercedes to your house. You can go out and buy a ten million dollar house.
Why?
Because you now have taken on a persona of that business you bought.
Business communication needs to be thorough and complete. If you are the owner of a business, you need to find ways to fill your needs of reaching your employees anywhere and everywhere and to do so quickly. If you are client based personnel, you too need to
What you’re going to find is, I hate to this, they don’t check. Do they occasionally? Probably, I’m not aware of it, but I don’t remember the last time that came up, but I do remember every week talking to people that filed bankruptcy or had terrible credit, and it’s not important because what happens is you’re focusing on you the buyer.
This is why I always say don’t start a business and don’t buy some little donut shop -- because you'll usually have to get traditional financing where things like your credit actually matters.
But when you buy something larger -- a million dollars or more -- the people coming in, the people putting the money up, the people checking are going to see the business, not you.
In fact, you can be a flake today and just filed bankruptcy and have no money and don’t pay anybody. Tomorrow, when you take over that business, you can go out and buy it. As soon as you go into escrow, they’ll deliver a new Mercedes to your house. You can go out and buy a ten million dollar house.
Why?
Because you now have taken on a persona of that business you bought.
I love being an entrepreneur. I love the challenge of managing all the finances, administrative FUN, the marketing and the work. I really do. And recently, I have made my life even easier by learning, following and teaching these monumental must-have manife
But when you buy something larger -- a million dollars or more -- the people coming in, the people putting the money up, the people checking are going to see the business, not you.
In fact, you can be a flake today and just filed bankruptcy and have no money and don’t pay anybody. Tomorrow, when you take over that business, you can go out and buy it. As soon as you go into escrow, they’ll deliver a new Mercedes to your house. You can go out and buy a ten million dollar house.
Why?
Because you now have taken on a persona of that business you bought.
Your business is up and running and all the pieces appear to be falling into their place. You’ve got clients, a schedule that works and an organized system in place as well. Yet there is a small voice inside of you that keeps questioning if this will work.
Why?
Because you now have taken on a persona of that business you bought. You are now that business. You are now a person making X number of dollars a year, not some person that screwed up, with rotten credit or whatever.
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