Opening your own business is a risky proposition. Personal funds, time, energy, and opportunities are invested in owning and operating a business. Under the best of circumstances, the chance of failure is high. Under adverse business conditions, failure is nearly certain.
The best control for risk is to recognize and avoid bad purchase decisions through the process of due diligence. Due diligence comprises conducting an investigation to determine the full implications of making the acquisition of a business. During the process of due diligence every aspect of the business is examined in exacting detail. Nothing is taken for granted.
Investigating Entrepreneurial Opportunities explains the process with simple, easy-to-follow steps. The authors – both CPAs who have bought and sold several businesses – reveal creative and low cost ways to do your own due diligence in investigating entrepreneurial opportunities. Sixteen comprehensive chapters cover all the basics, including market, products, insurance, facilities, assets, short and long-term liabilities, and much more. You′ll learn insider tips on how to uncover hidden assets and unrecorded liabilities and how to avoid legal troubles.
The handy reminder checklists at the end of Investigating Entrepreneurial Opportunities are alone worth the price of the book!
This incredibly street smart book belongs in the hands of anyone who is considering acquiring or starting a business.
Table of Content
IntroductionAn Overview to Investigation
Defining the Enterprise
Defining the Product
Investigating the Market for the Product
Investigating Product Costs of Manufactured Goods
Investigating Purchased Items
Facility Concerns
Insurance for the Business
Valuation of Short-Term Assets
Valuation of Long-Term Assets
Intangible Assets
Short-Term Liabilities
Long-Term Liabilities
Contingent Liabilities and Pending Litigation
Owner Discretionary Spending
Placing a Value on the Business
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