What to Consider When Starting or Buying a Business

Our recent article Four Big Mistakes to Avoid When Buying a Business was based on my interview with Josh Tolley, nationally syndicated talk show host and author of the recently released book Wealth by acquisition. Tolley’s message: Given the high risk of failure facing a new business, buying an established, profitable business is often a far better option.

His advice struck a chord. Many readers have contacted me to say something like, “The idea of ​​buying a business never crossed my mind.”