Why do so many entrepreneurs run into trouble when they buy an existing business?
Maybe the biggest reason that a buyer isn't as successful in his new business as he expected is because he changed everything once he bought. If the business was being run successfully, immediate change can be very disruptive to both customers and employees. The line that says...'if it isn't broken, don't fix it' can be true in many cases. Change should happen slowly and carefully, or maybe piecemeal (fix one department, and then another).
Another major reason for trouble is that a new buyer may try to ...
The 404 word solution explains what can happen in buying an existing business, and then presents a list of 10 actions that should be taken before purchasing a business.