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It's amazing how we see an immediate increase in our
business right after the December holidays and the day after every long
weekend. The former may be many "New Year's Resolutioners" as I call
them, and the latter is because most people dread the thought of going
back to their job after an extended weekend. So, let's pretend it's the
holidays right now, and sing to yourself: "All I want for Christmas is
a… business of my own…"
If you have any desire to be in business for yourself,
then now's the time to make your move! In fact, there has never been a
better time to take that step. So this year, buy yourself the greatest
gift of all – a business of your own!
Over the past year, I've met and spoken with thousands
of people worldwide who have reached the point where they've said:
"enough is enough!" Most hate their jobs. They are terribly uncertain
about the future. They're tired of busting their butt with little or no
thanks and they've finally realized that controlling their own destiny
is what they truly want from their career.
The market itself for would be entrepreneurs is
exploding, regardless of what the so called "experts" may say about the
economy. In prior times, when mass layoffs took place, displaced workers
simply adopted the strategy of looking for another job. Unfortunately,
jobs are not plentiful today. If you've spent anytime looking for a job,
you know how frustrating, humiliating and time consuming the process
can be, with no results.
If you are one of the lucky ones to still be employed,
instead of waiting around for your company to let you go because they
had one bad quarter and now want to save their way ahead at your
expense, take control of your future and fire your boss!! This is going
to be YOUR year!
I can assure you from my own personal experience that,
if you have the desire to be your own boss, it's something that is
within your reach. Moreover, with a few right moves, you'll accomplish
your goal within six months or so.
The Best Investment You Will Ever Made
When buying a business, you can and should expect to
make at least 25%-33% return on your cash investment. Plus, you will
have the opportunity to produce a steady personal cash flow, and you'll
be building value that will pay you handsomely when the day arrives to
sell the business.
Many people wrongly believe that acquiring a
business is a risky investment. Personally, I think that putting your
fate in someone else's hands has a heck of a lot more risk to it. While
there is some inherent risk buying a business, much, if not all, can be
eliminated simply by doing your research beforehand on any business you
consider purchasing.
It's funny, but "The New Year's Resolutioners" are typically people who said the same thing last year and most probably will do so again next holiday season. My father-in-law has a better name for them: he calls them: "gonnas"… they're 'gonna' do this, they're 'gonna' do that, yet another year passes and they do nothing.
Don't join that crowd; it's a one way ticket
nowhere. You can set everything in place to right now and with a few
simple steps, you'll be on your way:
Step One: Educate Yourself – no
matter what type of career you have, nothing you've ever done has
prepared you for this process. Even if you're in charge of corporate
acquisitions, you're now playing with your money and future and it's a
whole different mindset. Many people wrongly confuse their confidence to
run a business with their inexperience to buy a good business. As such,
devour as much information as possible about buying a business.
Step Two: Take the time to
properly assess your strengths and weaknesses. Take an honest inventory
of yourself. Your goal is to buy the right business. The guiding
principal is this: "whatever it is that you do best must be the single
most important driving factor of any business you consider purchasing."
Don't try to be something you're not. It's fine to learn a new skill
when you're working for someone, on their dime, but not at your expense.
Step Three: Put together your
"laundry list" of what you want in a business. Be specific. Don't say:
"I want it to make a lot of money." Rather, identify the characteristics
it must have. For me it's simple. Any business I buy must be:
sales/marketing driven, contain an element of exclusivity (either in
product or territory), have high margins as I don't want/like to sell a
product or service based on price,) and there must be demand for the
product or service the business offers (creating demand is way too
expensive). Assemble your five point list, and do not stray from it.
This must be the litmus test that you put every business through. If any
business does not subscribe to your rules – don't buy it!
Step Four: Set a timeline:
sticking to a timeline is critical. Each year seems to go faster than
the last one. Don't allow yourself to be in the same position next year.
Six months from today you should be in your own business.
Step Five: Above all, get into
the game. Search businesses for sale listings. The 2misi.com website is
an ideal place to conduct your search. Don't get overly analytical in
the early stages. Arrange meetings at potential businesses. Don't be
afraid to make offers.
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