BNI Pitch

Pay Attention

Slide #30 - Before you buy a business, make sure you understand how things get done. Are the policies and procedures documented? Are there extra steps? Do you need special training?

This post is about one of my 45-second pitches at my BNI Chapter, BNI City Business. You can read the introduction to this collection here.

21 October, 2022. I have always enjoyed the offbeat humour of Dan Piraro, complete with the hidden icons (here the stick of dynamite, an eye) that turn up in his comics. Here, a wordplay joke (pun, if you will) that plays perfectly with the message this week: Watch How Things Are Done. An extension of the Secret Sauce message from the previous week, but also highlighting the importance of observation, note taking, and developing policies and procedures where necessary. Once you have purchased the business, you need to be able to make it all work.

Where possible, plan to spend time in the business before settlement when the vendor is in charge, and then allow a full two weeks after settlement to have the vendor show you how to run the business. These period of handover should be included in the terms of the Sale and Purchase Agreement.

Want to Know More?

Contact us if you would like to know more about BNI (Business Networking International) or my chapter BNI City BusinessWe welcome visitors.

We meet weekly on Friday mornings 6.30 – 8.30 am. There are other chapters across Auckland that meet on other days, and some at different times.

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