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Name of author Rick Baker, P.Eng.

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Mistakes I have made buying and selling businesses

by Rick Baker
On Jul 18, 2012
Mistakes I've experienced, buying and selling businesses, more or less ranked in order from excruciating to awfully painful:
  1. Ignoring gut feel
  2. Not correcting over-valuation immediately 
  3. Believing accounting data & reports 
  4. Setting the wrong time expectations 
  5. Taking it personal
  6. Not getting to know key suppliers
  7. Not getting to know key clients
  8. Not getting to know key personnel
  9. Underestimating the cost to correct flawed operating systems
  10. Too much focus on EBITDA, not enough on cash flow
Now, I am committed to learning from my mistakes and helping others avoid some of the hardest knocks.

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