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For many people JJ Redick Womens Jersey , buying an existing business sounds easier than starting one from scratch. When you buy a business it is already established. It has an existing customer base and built-in cash flow.


It sounds like the perfect answer to all your problems. No more 9 to 5. No more working for someone else. No more rat race. No more layoffs.


But, before you rush in and buy an existing business you have to make sure that the business you buy is right for you and that you're right for the business. Otherwise, those old problems can become even bigger headaches: No boss means no regular paycheck. That 9 a.m. to 5 p.m. workday can be replaced by a 5 a.m. to midnight shift, seven days a week. Layoffs or downsizing can be replaced with the scramble to meet the monthly payroll.


The upside is that if you choose the best business for you, and if know the secrets of handling the purchase the right way, you can enjoy the pleasures and the profits of being your own boss without having to go through the groundwork process of actually building it from scratch.


If you seriously want to buy a business, you have to ask yourself Allen Iverson Womens Jersey , ?What kind of business is right for me? For example, should it be a one-person operation? Perhaps, if you really like working alone. But a lot of people who take the one-person route find the work excessively demanding, the silence deafening, and the loneliness disheartening.


Before you decide to buy a business, you should go through several important exercises. First, find out what size business you can afford. In making that determination Joel Embiid Womens Jersey , understand that most small businesses don't sell for cash. Many people purchase businesses only to find out later that they paid too much.


There is a key rule of thumb to remember when you're buying a business; the rule of two-thirds. This rule states that a business? cash flow must service debt totaling two-thirds of the sales price. In other words, any business you buy must have enough cash flow so that after paying expenses, including your salary enough is left over to meet debt payments.


When you find out how much cash you have to invest in a business, multiply it by three. That will give you a rough dollar estimate of how much you can pay for a business. How do you find out how much cash you have to invest?


First, subtract your liabilities (mortgage, debts, etc.) from you assets (cash Ben Simmons Jersey , securities, real estate, home equities, automobiles, etc.) The number you come up with will be your net worth.


Then, you'll have to determine how much of your assets are liquid; either cash or, as with stocks and bonds JJ Redick Jersey , quickly convertible into cash. That will show you how much you can put down on a business. But before you rush out and buy a business, you need to make sure you possess some very important personal qualities such as, being goal oriented, persistent, independent, profit-focused, self-confident Allen Iverson Jersey , risk-oriented, self disciplined, street-smart, and opportunistic.


The next think you need to do is to determine what kind of business is best for you. To do this, make up a list of your business ?wants? and 'don't wants.? For example, how do your feel about travel? About commuting? About hiring, firing Joel Embiid Jersey , and managing employees? About long hours? About dealing directly with customers?


Imagine your perfect job. Concentrate on your thoughts and activities, and not so much on responsibilities. Write down your thoughts and images as fast as they occur. A few days later, visualize another, different ideal job. And then repeat this exercise.


In analyzing your perfect jobs, you will probably find that they have a definite pattern, one that will indicate your interests. This analysis will help you find a business whose needs match with what you like to do. That's vitally important, because for your business to succeed Cheap Philadelphia 76ers Jerseys , it will require that you possess specific skills.


Once you know the type of business you want to buy and have identified your specific skills, you need to decide if you would have to move the existing business. For example, it's hard to relocate a