Russ and Jim review the importance of a confidentiality agreement in the process of buying or selling a business, and then move on to discuss a non-binding letter of intent.

Russ and Jim talk about how to buy an existing business, with emphasis on the advantages of buying an existing business as opposed to starting a new one.

Russ and Jim begin talking about the importance of having contingency plans for surprises and problems in your business, and then move on to the questions a buyer or seller should ask a business broker, such as assurance of confidentiality.

Russ and Jim discuss specific questions to ask anyone who represents themselves as a business broker to find out if that person has the credentials you need, especially how that person would let prospects know your company is available, while maintaining confidentiality. They also talk about the importance of properly valuing your business, and where to go for help. During the visit, a caller sings Blueberry Hill (really).

Russ and Jim talk about some of the issues involved in the process of buying a business. Russ talks about how to begin this process, which includes reading as much as you can, how to find a business broker, and what are the questions you should ask a business broker. They also talk with a caller who has an excellent question about deciding to use a business broker as opposed to an investment banking firm. Russ really nails his answer.

Russ and Jim discuss aspects of the due diligence process, including some of the most important questions a prospective buyer of a business should ask the seller, such as, what could be done to increase sales and profits, if you were giving this business to a child, what would you advise them to do with it, and will the seller provide any financing of the purchase price.

Russ and Jim continue their discussion of the 15 most important questions a buyer should ask a seller, how to ask them, and when to ask them. (This interview follows the 1-4-99 Archive with Russ.)

Russ and Jim continue their discussion on the due diligence process involved in buying a new business. This visit begins a discussion of the 15 most important questions a buyer should ask a seller, how to ask them, and when to ask them.