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There are times when, as an entrepreneur, you are faced with difficult choices. Starting from scratch? Make new additions to your business? Build yourself up? Buy a business or activities that will help you accelerate toward your goal? By buying a business, you make quicker strides because you are already choosing an existing business. And if you do your due diligence properly then buying a business is a profitable exercise.

You can continue to grow your business through partnerships, joint ventures and mergers. You can also buy a business. These are all options that are possible. Ambitious entrepreneurs hold the reins and determine their own growth. Buying a business offers a solution in such cases.

There are plenty of reasons to buy a business. Some common ones are: you want to expand at an accelerated pace, you're moving abroad to do business, you're entering an adjacent market, or you're adding a service or product to your product line. Whatever the reasons, they are good reasons to spar with Next Steps. We are happy to help you buy a business.

In the past, the founders of Next steps have had to make the consideration of buying a company themselves. They did that then for their own business. And we help entrepreneurs now with the same choice we had to make then (see experience fact sheet). We know the pros and cons of buying a business. We also know what it takes to take on this process of buying all by yourself. We also know that many entrepreneurs struggle with the question "do it yourself or outsource." We help you weigh the trade-off between doing it yourself or outsourcing the buying process.

You choose and decide. We spar and guide you in this process. We spar with you about the synergy benefits and economies of scale. You list them. We help you quantify them. That way, you make the best decision. That is important for the success of the sale.

Now that everything has been weighed, we go "out on the farm" with knowledge to identify the right companies. We fit and measure and find the best fit to buy. We approach potential candidates to buy their businesses. We create a long list, short list and discuss them with you. With a suitable candidate we prepare a valuation of the business to buy including a business analysis. If financing is necessary then we look for the right financing. Finally, we assist you with the due diligence and negotiate to a final offer. Our work ends when the takeover or purchase contract has been signed and settled. Then begins your big job to deliver what we calculated beforehand.

Often you know your acquisition target a long time ago (after all, you're "on top of your market"). Just then, a good buying process is half the battle. No cutting corners during the buying process. Form and content are of two minds. The party to be acquired also looks at the process and professionalism and bases his judgment about the deal. A good buying process gives confidence in a good outcome and an optimal start of integration and cooperation.

We have an extensive network that will go through the tax, financing and legal aspects of the deal with you in advance. They will put these aspects in writing and advise you in the areas in which they are specialists. A low sale price of the company with no guarantees and possible penalties is not necessarily a good deal.

Next Steps also follows a number of markets. We want to become specialists in those. These are markets that are moving a lot and markets in which we have already earned our spurs. Markets are moving because of energy transition, digitalization and e-commerce and switch in sales channels, climate change and artificial intelligence.

In addition, markets are consolidating and this always creates opportunities for new entrants. Examples of markets in flux include:

• Retail - ecommerce
  Coolblue, Picnic, Amazon, Blokker
• Installation industry
  Scaling up due to increasing demands on technical knowledge and complexity of systems. The corner plumber is not always the best choice
• Energy generation
  Energy used to come from a large power plant. Now every home and factory is its own power plant with energy storage and sometimes distribution.

Markets are constantly changing and, due to the Internet and globalization, ever faster. Next Steps' consultants have broad market experience themselves, specifically in:

• professional services
• telecom
• life sciences
• communications (advertising, market research bureaus etc)

A good reason to buy a business is growth, buy-and-build. As a result, the company grows rapidly and gains scale. The customer base grows rapidly and with it sales and profits. An advantage in buying a well-run business is that the business can be implemented quickly.

Regularly (ex) entrepreneurs come to us with this search question (Management Buy-In). After an orientation, we are happy to help you further. We draw up a search profile. We make a short and long list and we approach candidates.

If you are purchasing a smaller business with the owner still at the helm. Then clearly agree when he or she will leave the company. This is important for both the strategic buyer and the departing director-major shareholder (DGA). Make sure that the company and all relevant knowledge is properly transferred. There is often no room for two captains on the ship.

Next Steps is not responsible for the success of the integration. We do know that a good process through to purchase determines whether you get a jump start on integration and realization of benefits. Companies that are focused and know each process through and through usually have success from purchase. We often see this happen during the purchase process.

An integration plan is a must in a transfer between an entrepreneur and strategic buyer. This is absolutely recommended for both the buyer and seller. You are dealing with two cultures and ways of working. Do not underestimate the differences therein.

Call or email us and we will be happy to make an appointment. Then we will discuss your case in detail and you will already go home with more clarity.