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fromscratch78
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Here are some practical ideas from a non accountant, im sure you will get a long list of detailed instructions that will put you off altogether.

3 years financials is one of the basics, if you cant understand them then you might be better off not getting into the business.

The other thing i’d do is go and work in the business for as long as practical.

Research the market, make sure there is no game changer on the horizon ie, legislation, competitors, new products etc

Make sure you can do the all the tasks the current owner is doing, if you have to pay for someone to do anything then you have to adjust the numbers to suit.

There is a lot more to look at but you have to start somewhere.

Mitch
BigIQs