Surround Yourself with Great Advisors
Of all the ways to become financially independent and successful, owning a business is the most reliable way to acquire significant wealth.
It can be more effective than investing in property or shares, gambling. And certainly more than working as an employee. Owning a business is the most rewarding, satisfying and immediate means of creating wealth.
The decision to buy, or start, a business is one of the most important decisions ever undertaken. The importance of this decision warrants the most careful planning, attention to detail, and professional consultation.
So here’s a tip. Before you do anything, seek professional advice.
Once you’ve bought a business, you can’t give it back if you don’t like it. Or if it’s not right for you. It’s not like buying a car. There isn’t any warranty and there’s no instruction manual.
So when you decide to buy a business, you need to get good advice and guidance from experienced, caring, professionals before making any commitment. Be prepared to listen to the advice given to you. And be prepared to implement that advice.
Don’t try to save a few dollars by not seeking professional assistance, or by choosing an advisor because they’re the cheapest. Take the time to seek out the advisor in whom you feel most confident. Someone who really listens and understands your position, your goals and your requirements.
It can take a long time to find the right group of people. But it’s essential that you take the time to seek-out and put together the right team. The most successful business owners in the world will tell you the same thing – surround yourself with good people.
Don’t stick with a professional advisor just because they have been with your family for years, or because they are a friend or relative.
Use them because they are the best. You will need to put together a team of advisors which includes a solicitor, an accountant, a financial planner/superannuation consultant, a financier and a marketing advisor. Maybe even a business coach.
Put the best possible team together. Just as if you were putting together a cricket or football team. You’re the selector.
Have high standards and expect total attention from these people. You are their client, so expect them to look after you properly. It will make a huge difference.
Benchmark Business Sales and Valuations
