People make a lot of mistakes when buying a business for the first time. Huge mistakes.

One of the biggest mistakes I see, is when people raise the money to buy the business, and then pay the seller of the business the full amount on day one.

The seller then hands you the keys, and sails off into the sunset on their luxury cruise.

This is a terrible idea.

First of all you want to make sure there is a transition period where the seller stays on, to ensure your both aligned and the business continues to run successfully.

Secondly, you should pay the seller the full amount over a period of years, to really help ensure a successful outcome for everyone.

#businessgrowth #businessacquisition #buyingabusiness

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