Excerpt from Term Paper:

...... The author speaks about financing and bringing in good counsel when choosing a business and this is good advice. The buyer should bring in experienced financial and legal experts to help evaluate the pros and cons of the venture. She also notes the team should evaluate the business and its potential, but does not give a lot of information on how to do that effectively. The problem with this teamwork solution is that the entrepreneur may rely so heavily on the team that they do not understand some of the basic concepts themselves, and this could lead to trouble down the road. The text discusses small business accounting and financial analysis is much more detail, and gives the potential small business owner much more understanding of what to look for, from an overview of the accounting process to how to analyze your (or your potential business') financial status at any time. Granted, the author is presenting a brief overview of buying an existing business, but this overview might sway some people into thinking buying a business is simpler than it really is, and lead them to rely too heavily on the opinion of experts, rather than their own understanding

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