Are you considering buying a business?

We use and listen to our coach in sport, our teachers in schools and act on the lessons and tips so we can succeed, yet we choose to gamble on a huge life  changing investment like buying a business without seeking professional help in calculating the risks.

Everyone knows what they would do if they won TattsLotto and how much they would need to win. But the number is always the minimum that would entice us to retire.

We budget and save for annual holidays and other expensive treats. In sport we calculate what we need to do to make the shot, but most of us don’t take the time to plan or budget for success in business.

Money can't buy love, it causes new headaches. Lending or investing large sums of money on an exciting new venture causes anxiety and sleepless nights, when things aren't going to plan.

The statistics of small business failures are very high in the first 5 years, at some point it is almost guaranteed that your forecasts or lack of, will result in you putting the family home at risk.

Ask Lots of Questions Before Buying a Business

Without a thorough due-diligence, you could be buying a lemon that will leave a sour taste in your mouth and was never going to make sweet lemonade.

Budget One can help you in your due diligence activities and ensure that your business decision to purchase is an educated one.

We challenge a business-for-sale business plan and financials to make sure you’re selecting and entering into one with a robust profit model.

At the same time, Budget One can help minimise your risks by providing you with a road-map, refuelling points where we check your progress and recharge you, as well as help you plan for unexpected detours.

Successful businesses have financial road maps created by highly skilled employees, but small businesses just like yours can afford such a luxury and that's why Budget One has created our "Start Up Success" and "Business Success" programmes.

Each is designed to complement the other, at the start up phase (purchasing a business), we help plan your journey and create the tools you need to navigate the first 12 months and the stresses that this places on your cash flow.

If you would like to learn more on Budget One’s due-diligence process, call us on 9583 7925 and set up a time to meet with us – it’s free!

Author, Taso Tounis

Taso Tounis is a business planning, cash flow management and budgeting consultant. He is passionate about equipping soon-to-be and existing business owners with a GPS system and dashboard on the outlook of prospective and present businesses, so they can make the right choices using their road map, to achieve extraordinary success. Learn more about Taso.

Want to know more about Budget One? Read more on our strategic planning, cash flow management, budgeting and financial solutions and how we can support SME's and non-for-profit organisations.