Many people misunderstand the true meaning of due diligence. To the misinformed, it is the time when a buyer can check out a company's financials. However, it goes way beyond that. It is the stage of the business-buying process when...

I want to thank everyone again for all of your kind wishes regarding last week's column. Election Day was incredibly inspiring for my daughter and me. When the people in line at the polling station learned it was our first...

January 23, 2007 was the fifth best day of my life, preceded only by the births of my four children. That was the day I became an American citizen. The single biggest reason I decided to renounce my Canadian citizenship,...

I received an excellent question recently regarding business leases. While this component to buying a business can entail a wide array of issues, I want to cover off the most common questions that come up. Taking Over a Lease Versus...

I am in Montreal, Canada attending a family function. I ran into an old acquaintance who I have not seen since elementary school. He was, and still is, a very smart person, at least acedemically. Turns out he is a...

Years ago, in one of the first businesses I purchased, there were two owners. I initially met the managing partner and he told me from the onset that he made ?all the decisions?. Allegedly, the other owner was strictly a...

Over the past few weeks, I have heard a wide range of comments and predictions regarding the current state and future of the business for sale market. The discussions reached a frenzy with last week's government bailout. The general consensus,...

Regardless of the economy, the business for sale marketplace is still flooded with buyers. One of the points I have been preaching for years is that serious prospective buyers have to separate themselves immediately from all of the lookers when...

There are two subjects that constantly arise regarding the employees of a company that is being sold. The first of course, is that a buyer will want to meet the employees before they close the deal. Naturally, most sellers are...

If you want to be an effective buyer, you must gain insight to the seller's thought process, motivation, and concerns. Most stages of the business buying process are psychological because you are dealing with personalities on so many levels, and...