In this episode, Melinda Emerson delves into the world of entrepreneurship through business acquisition. She discusses the importance of due diligence amid a surge of businesses for sale, highlighting key financial considerations for potential buyers.
Melinda also explores the transition to a CEO mindset and identifies promising growth sectors. The episode further examines how to evaluate franchise opportunities, providing listeners with a comprehensive understanding of the acquisition landscape.
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This week on SmallBizChat Podcast:
- Buying an existing business can provide an easier path to entrepreneurship with established customers, systems, and cash flow from day one.
- With 40% of small businesses expected to change hands in the next five years due to retiring baby boomers, now is a prime opportunity for acquisition.
- Transitioning from employee to CEO requires a significant mindset shift and understanding of comprehensive business management beyond one’s specific area of expertise.
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