What You Need to Know Before Buying a Business

The days have long gone when it was only men who bought businesses; these days there are many women who own and run their businesses very successfully. But to do so, you cannot expect to buy into any business without knowing anything about it. You need to have training in small business management and experience in the industry, otherwise your efforts are likely to be in vain. Here are some pointers to help ensure success if you want to buy your own business.

  • Get work in the same industry that you are interested in before you attempt to buy a business. If you want to run a restaurant, become a waitress. If a resort in some exotic location sounds good, work in one first. Learning the ropes from the ground up will give you a good idea of how everything works and whether you have the staying power and interest to make it through all the hardships of owning your own business.
  • When you are ready to go ahead, befriend a reputable lawyer and accountant and take their advice in all things to do with your business, from whether you should buy it at all to whether you really need to upgrade. It is easy to get carried away with your plans and waste money you may need for more serious purposes, such as paying off the loan.

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Reminder: Make Your Advocacy Day Appointments!

Reminder: Make Your Advocacy Day Appointments!

Advocacy Day, March 31st, is approaching fast! This integral part of the NAPE & Women Work! 2009 Professional Development Institute is an opportunity for advocates from all over the country to learn about current policy issues and educate their representatives in Congress about their work and the challenges they face.

Attendees should be setting up meetings with their Senators and Representative for between 2 p.m. and 5:30 p.m. on March 31st. Use the Advocacy Day Prep Kit for help in identifying your legislators and contacting their offices. Once you have set up your meeting or meetings, don’t forget to add them to the Master Schedule, so we can track out joint impact.

If you haven’t registered for the 2009 Professional Development Institute, Partners on the Path to Equity (March 29th – April 1st in Washington, D.C.), you can do so here.

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