The first step an entrepreneur should take when buying an existing business is to ________.
A)explore financing options
B)prepare a list of potential candidates
C)analyze his or her skills, abilities, and interests in an honest self-audit
D)contact existing business owners in the area and ask if their companies are for sale

Question

Quizplus · Accepted Answer

Before buying any business, it is important for the entrepreneur to analyze their own skills, abilities, and interests in an honest self-audit. This will help them determine if they have the necessary knowledge and passion to run the business successfully. Only then should they explore financing options, prepare a list of potential candidates, or contact existing business owners.

The First Step an Entrepreneur Should Take When Buying an Existing