Although the majority of businesses grow organically, many owners will entertain the idea of making an acquisition at least once in their career. For some, growth through this method is a rare opportunity which is unlikely to be repeated, while for others, growth by acquisition is an important part of their overall growth strategy.
In all cases, the process of buying another business has its own unique set of challenges. So before embarking on the acquisition trail, it's important that you gain as much knowledge about those challenges as possible to maximize your likelihood of success.