1. Moving Forward

2. What is an Entrepreneur?
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Up until now we have focused on developing and building a company, over the next couple days we will focus on the “other type” of entrepreneur. Buying existing companies

3. Buying a Company: Start Up Advantages
Starting from scratch presents some distinct disadvantages, including the difficulty of building a customer base, marketing the new business, hiring employees and establishing cash flow ... all without a track record or reputation to go on.
When you buy a business, you take over an operation that’s already generating cash flow and profits. You have an established customer base and reputation as well as employees who are familiar with all aspects of the business. And you don't have to reinvent the wheel

4. Buying a Company: Original Investment
On the downside, buying a business is often more costly than starting from scratch
However, it’s often easier to get financing to buy an existing business than to start a new one
Bankers and investors generally feel more comfortable dealing with a business that already has a proven track record
In addition, buying a business may give you valuable legal rights, such as patents or copyrights, which can prove very profitable.

5. Buying a Company: What to Consider
Are you interested in the company?
Where is the company located?
Why is the business for sale?
Is there a future for this business?
The size of the business

6. Biggest Acquisitions in Business
On the class website is your assignment for the next couple of classes
We will read it over as a class and I will answer all your question
When we have finished going over the instructions, tell me which company acquisition you have chosen
If you tell me before we have gone over the instructions, you lose the rights and someone else can take your idea