If you have looked at the statistics you know that 84% of the people who attempt a startup literally fail in that process. A profitable company is an accomplishment!

The owner typically has years of "Sweat Equity" as well as a major portion of his or her net worth invested. The owner has legitimate concerns about the selling process. How can he/she sell a thriving, profitable company to someone who could come in, drive the business down, lose the customers, disrupt employees and hand back a business in sad shape?

As a prospective "new owner" you have legitimate concerns. A few of the questions you may ask as you start the buying process include:

• The business is for sale. What's wrong with it?
• Will customers and employees stay?
• How do I fit into this picture? What is the upside potential?
• Where do the numbers (financial historical track record) on the company come from?
• What working capital cushion will I need?
• How key is the current owner? How committed is the owner to a successful transition?
• What is the availability of alternate suppliers?
• Am I tied to this location? How's the landlord? How's the lease?

And the list goes on.

Acquiring a company is a "Good Deal" for you only if the company grows and generates profits.