The First Steps After You Buy a Business

"It's One Thing to Buy A Business, Now You Have To Run It!

The first 90 days after you close on a business purchase will prove to be the most critical time in you new venture's short-term future. There are several key factors that if done right, will set the foundation for your success. It is very important for you to lay out your plan for post-closing before you take over so as to ensure the smoothest transition possible.

Don't Change Anything… Yet!

Unless you have an intimate knowledge of the business and the industry, much, if not everything will be new to you. While it is normal for you to jump in full-steam ahead and implement many changes that you've thought about, the best thing that you can do is nothing, at least at the very beginning. That's right, no major changes at all, at least for now. Most businesses experience a downturn in the first three to six months after a new owner takes over. Don't panic, it can happen. However, if you avoid any substantial changes, things should rollover effectively."

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The First Steps After You Buy a Business:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.