Business

The Reason Why Every Business Is for Sale

More than likely, the right business that meets your needs already exists. There’s a huge number of websites and business brokers who can help you find a business that has already been listed for sale.

One of my mentors has taught me that an often overlooked method to finding the right business is to purchase a business BEFORE it goes to market. This concept is similar to buying a house or getting a job before it’s listed to the general public.

The reason why every business is for sale is because at the right price, EVERY owner will consider selling their business.

You will have a huge advantage in finding your right business if you understand this reasoning. This is the mentality that will significantly increase your chances in finding the right business.

It’s possible to approach a business not currently listed for sale and to start a dialogue with the owner to get them to think about selling.

Interestingly, while my primary objective is to purchase online businesses, by holding the belief that EVERY business is for sale, I’ve found a worthwhile offline business opportunity that I’m currently exploring. All I did was ask about the story of the business because I was interested in the product and now I’m communicating potential acquisition details with the seller.

Under the right conditions deals can be made where both the buyer and seller win.

The whole point of this post is to encourage you to avoid limiting your search to online or newspaper listings. There’s an abundance of options when searching for the right business to buy.

Be open to the idea that there’s a business out there where the current owner just needs you to motivate them to sell at a fair price. They may be ready to sell but just don’t know it yet! 😉

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4 Essential Skills You Will Need to Buy the Right Online Business (Part 2)

When executed properly, buying an online business can be one of the smartest buying decisions you can ever make. It’s important to understand what you need to successfully acquire the right online business.

In my previous post (part 1), I described the first 2 skills that you will need to buy the right online business for yourself.

Let’s continue with the other 2 skills.

3⃣ Courage. What would you do if you had more courage? The process of purchasing an online business will require you to step out of your comfort zone. There will be challenges, risks, and uncertainty. Friends, family, and strangers will tell you all the reasons why buying an online business is risky. Ultimately, it will be up to you to decide whether or not you willl continue to take steps towards your objective.

4⃣ Common Sense. Buying an online business can be an emotional rollercoaster. You will need to balance courage with common sense. It can be so easy to get excited about a business as you think about the profits and the lifestyle it can bring you. On the flip side, the fear of the unknown can cloud your judgement and perception of reality. In both cases, you must not think irrationally and throw common sense out the window. You don’t need to rush any decisions, in fact, it may be best for you to slow down in order to make the right decisions with unemotional common sense.

To review, here are the 4 skills you will need to buy the right online business:
1⃣ Clarity
2⃣ Communication
3⃣ Courage
4⃣ Common Sense

Yes, buying the RIGHT business can positively impact your life, but don’t forget that buying the WRONG business can also put you in an unfavorable situation.

Practice and develop these 4 essential skills and you will be setting yourself up for success as you take action to buy your online business.

Let’s connect if you’re also preparing yourself to buy an online business! 👈

By Passion Plus Profits Leave a Comment

4 Essential Skills You Will Need to Buy the Right Online Business (Part 1)

If your dream is to buy your own profitable online business, as the new owner, you will need to possess these 4 skills to buy the business that’s right for you.

1⃣ Clarity. You must know what you want and be able to describe it clearly. For example, can you answer these questions with clarity:
Which business type, industry or niche are you interested in?
What is your timeline to buy?
What is the purchase price range you are looking for?
Why do you want to buy an online business in the first place?
As the new owner, what will a typical day look like for you?

2⃣ Communication. In an increasingly virtual and global marketplace you must also be able to understand and deliver your message across different platforms such as text, email, telephone, and social media. Without face-to-face interaction, it’s easy to lose sight of the intended context.

Misunderstandings and miscommunications are a threat to all businesses, especially online. How effectively you communicate with the outside world will have a profound affect on your business.

In my next post (part 2) I’ll go beyond clarity and communication, to share the 2 other skills needed to buy the right business.