Chapter 2: Is it right for you?

0

  • not for everyone
  • need to understand the challenges and rewards
  • most people who follow this path are first-time business owners
  • possible even if not wealthy by raising capital from loans and investors
  • fit depends on skills and values

Values

  • Independence vs structure of a large company
  • You get rewarded directly for your hard work
  • Learning

Won't have

  • regular salary and benefits
  • working for a bran
  • community of colleagues
  • resources and infrastructure of a large company

Skills and Traits

Successful entrepreneurs through acquisitions have the following in common

  • Basic management skills
    • some experience or business acumen
    • understanding of basic finance (financial statements and principles and basic modeling)
    • owner often acts as director of sales and chief financial officer
    • proper transition period with seller coaching
  • Confidence
  • Persistence

  • 0 posts
  • 0 subtopics
  • 2 months ago by vince