Learning The Important Art Of Reading Between The Lines

In the majority of cases, you need to be a real "people person" if you want to succeed as an entrepreneur

. If you own or run a business, you need to be able to interact with people of all shapes and sizes, personality types and origins, if you are to do well in the cutthroat business world of today. While there may be a definite trend toward service provision in the business world as a whole and many new businesses may well exist online, as opposed to in "bricks and mortar" form, the fact is that you have to be able to interact with people in one way or another, successfully, in order to make it work.

If you break down the process of buying and selling, you will quickly find out that every person involved in the process has an agenda. In short, they want to achieve something. The buyer may want to find a bargain, to satisfy his or her requirement at the best price possible. Alternatively, if a particular item is very scarce or has another type of value, the buyer's objective may be to secure the item at any price. The seller has a number of items on his or her agenda. Not only is the sale important, but the buyer's satisfaction should be paramount, as the real benefit of a client is in their lifetime value. It is, after all, far easier to service a repeat client than it is to source a brand-new one.

You should be able to read between the lines when it comes to the process of buying a business, as well. Recognizing the motivators, the hidden agenda in many cases, may well be crucial as you navigate your way through this often complicated process. You need to be able to reveal the "real meaning" at every phase of that journey and once again understand that every person who you come across will have his or her own agenda.

While you will be very unlucky if you happen to come across any really fraudulent activity with a business for sale, you should nevertheless realize that there's almost always something hidden in the closet. Those hidden items on the agenda may or may not be deal killers and may have little bearing on potential success after you buy business assets, but you need to be able to reveal them, nevertheless.

The seller may be a very successful business person and have a matching personality. You need to be on your guard against whitewashing and take everything that is said with a certain pinch of salt. Reading between the lines will be crucial as you go through your formal process of due diligence, but you can and should be critical of every detail contained within those preliminaries.

Remember that during the early stages of any process to buy a business, a certain amount of investigation must take place behind the scenes. The seller is not going to reveal all the cards until he or she knows that you are really serious. You need to gather as much intelligence on your own as possible, before you start.

by: Richard K Parker

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