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10 Key Steps for Starting a Business

Starting and running a small business is tough. It is quite different from working for someone else and you will need to deal with a measure of uncertainty that you may never have experienced before. To a greater degree you have to be responsible completely, all risk and all reward! But if you are suited to running a business, you may find that it is one of the most exhilarating and rewarding choices you make in your life.

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The Process of Selling Your Business

If you have spent years building a business then you will most likely come to a point where you decide to sell your company to a third party. There are a number of reasons why an entrepreneur makes the decision to part ways with the business that they have dedicated their careers towards creating. For many business people, common reasons for selling a venture include retirement, wanting to move on to another venture, or sickness. As such, you should carefully consider everything that needs to be done when you place your business on the market for sale.

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An Overview of How to Buy a Business

One of the best ways to start your path down entrepreneurship is to buy an existing business. There are many benefits that you will instantly receive from the purchase of a company. Primarily, in all likeliness, the business you intend to purchase is currently generating a profit and maintaining a positive cash flow. As such, the concerns regarding your ability to support yourself from the income derived from your business are substantially reduced. Additionally, you can use the existing business as a platform that you can aggressively expand. Unlike starting a new business, an existing business already has an operating history, a customer base, and an established market presence.

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