You’re thinking about buying a business. You’ve set out a list of criteria, but have you included image? Can you separate the dollars and cents from the sense you get from the business? Or do some businesses give you the heebie jeebies, even if they are known moneymakers? Are there businesses you would rather not associate your name with? Related: The Entrepreneur’s Checklist: 7 Things You Need To Start A Business Let’s be clear, we’re not talking reputation, but image. Do you see yourself driving the Cadillac, or is any motor on wheels sufficient? Both will get you to the place you want to go, but you may feel that extra ounce of pride driving one over the other. Like beauty, image is in the eye of the beholder, but you may have already decided certain businesses are not for you, whether these be drug-testing, check-cashing or janitorial service operations. Maybe you picture yourself doing something you perceive as helping people, like tutoring or providing green energy options. But when you embark on such a big decision, you want to make sure you understand all the factors before committing yourself and your money to a business that will impact your life and income for years to come. First you have to decide how important image is to you. If you’re the type of person who readily sees the positive side of things, you will see a pooper-scooper business, which goes to clients homes to clean up after their dogs, as a benefit to its customers. After all, there are people who due to disability or illness, would never be able to keep their pets without such a service. But maybe you don’t want to be in a certain type of business.
August 01, 2015