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© Copyright 2002-2003. All rights reserved.
Page 29
How To Investigate Any Business Opportunity
Most people can learn to manage if they recognize the need. This requires room to make mistakes,
however, and the self-discipline to undertake self-improvement pogroms.
Initial Contact Between Buyer and Seller
Assuming that motives have been examined and that both seller and buyer are still interested, the next
step is to get the two together. But there seems to be no "best way" to find a seller or a buyer for a busi-
ness.
From the seller's point of view, the task of finding an interested buyer is the more difficult one, but there
are many avenues to explore other than running advertisements in newspapers. He should ask himself
these questions :
Have I told my employees and other business associates that I intend to sell the business?
Have I taken advantage of the broadcasting ability of sales men who call on businesses similar to mine,
of association meetings, or other trade contacts?
This informal advertising requires the same kind of information more formal advertising does. Business
associates, trade contacts, and friends should be told the asking price, the terms, the anticipated return.
Without this knowledge, a potential buyer can hardly be expected to respond positively. He needs to
know in advance how the offer relates to his financial ability.
From the buyer’s point of view, finding opportunities is relatively easy. The difficulty lies in locating a
business he can analyze confidently. When he deals with unfamiliar firms, he is haunted by a desire for
more information and suspicious about the information he does receive. A buyer seeking a seller should
consider the following points; 
Have I asked people I deal with about persons who might be considering selling a business?
Have I considered approaching businesses with which I am familiar about the possibility of a purchase?
Kinds and Sources of Information To Obtain
At this stage, the buyer and the seller must decide what information about the business to seek or give.
In the case of Sam's Market information was brought out about three factors:
1. The nature of the business in the past.
2. Present condition of the business.
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