Leadership

Peer-to-Peer: How do I go about finding a good business to invest in?

Written by PROFIT-Xtra

Question

“I am looking at expanding my business and diversifying into other businesses. I am wondering where to look for a decent business to buy instead of the riff-raff you find in the newspapers. Where do you find an assortment of businesses for sale that aren’t restaurants or convenience stores?”

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Reader responses

Mark Groulx, A.I.M. Group Canada Ltd.:

It’s not easy, but the best way is to hire an experienced and reputable mid-market mergers and acquisitions specialist. An M&A specialist such as my company will have an extensive network of connections to access what is available in the market. As well, they can help you develop a strategy to target specific companies that might not otherwise be for sale.

Catherine Harper, Vegreville & District Chamber of Commerce:

If you’re looking to expand or diversify into other businesses, you should first visit the economic development websites for communities where you might like to invest and read the community profiles. Once you’ve chosen a community where you might wish to buy a business, contact its economic development manager, who’ll have a portfolio of ideas and potential venture-capital investments.

Because the economic development manager has a vested interest in his / her community and how it’s perceived by others, you won’t be subjected to the “riff-raff” found in newspaper advertising. In addition, you’ll be able to narrow your search considerably and do it more effectively.

For her answer, Catherine Harper will receive a copy of How Great Leaders Get Great Results by John Baldoni.

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Originally appeared on PROFITguide.com
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