Building Or Buying !!!

Hey Everyone  !! passing through to drop some knowledge in your reach, as the title suggest its about building or buying a business , as it will be on of the decisions we all will face on our pursuit towards entrepreneurship but before that there is  a quote i would like to share with you that i received from my lecturer.

"EVERY BUSINESS, LIKE A PAINTING, OPERATES ACCORDING TO ITS OWN RULES. THERE ARE MANY WAYS TO RUN A SUCCESSFUL COMPANY. WHAT WORKS ONCE MAY NEVER WORK AGAIN. WHAT EVERYONE TELLS YOU NEVER TO DO MAY JUST WORK, ONCE. THERE ARE NO RULES. YOU DON'T LEARN TO WALK BY FOLLOWING RULES. YOU LEARN BY DOING, AND BY  FALLING OVER, AND IT'S BECAUSE YOU FALL OVER THAT YOU LEARN TO SAVE YOURSELF FROM FALLING OVER. IT'S GREATEST THRILL IN THE WORLD AND IT RUNS AWAY SCREAMING AT THE FIRST SIGHT OF BULLET POINTS."- Sir Richard Branson. 

so lets evaluate the building or buying a business. there are advantages to buying a business like there will already be a certain foundation stuff there for example customers suppliers, staff etc but on the other hand it leaves you developing a brand that was not necessarily the way you envisioned as well as there is an expectation that the customers have so it might be harder to create changes and getting them to accept it and try it out. however if this is the approach you choose there are certain things one needs to make sure of:

- why is it being sold

- is it really my right fit. is it what i want ?

- checkout its statistics and standings, save yourself any surprises

- research competitors 

also one has to check the operation of the business, the:

- Sales

- Costs

- Profits

- Assets

- Staff

with all this done if it is what you want go make your move and start your journey to success putting on your entrepreneur hat !!:) on that note ill leave you with 3 more attributes of a successful entrepreneur:

*Visionary

* Strategic

* Balanced

just wanna say " OUR DEEPEST FEAR IS NOT THAT WE ARE INADEQUATE. OUR DEEPEST FEAR IS THAT WE ARE POWERFUL BEYOND MEASURE. IT IS OUR LIGHT, NOT OUR DARKNESS THAT MOST FRIGHTEN US." - Marrianne Williamson, have a productive week and keep posted !

See You Later On Shadz Scoop :D