#Bill boss finanical how to#
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A family that supported his dream increased his enthusiasm and made the discussion of the second critical question a piece of cake.īill had both enough of a nest egg saved up, and a large enough client base willing to follow him to allow him the time to focus full time on launching his two companies without creating a serious financial strain. His experience and knowledge of the financial markets made financial services an easy choice. Bill was able to quickly answer the first two critical questions. His goal is to create a large and profitable diversified, financial services firm. After working for a national brokerage firm for nine years, his dream was to run his own business. In March of 2004, he started a second company: BR Capital Real Estate Finance, a mortgage brokerage. He started his Vancouver based investment advisory business in November of 2003. Local business organizations, like the Chamber of Commerce for instance, frequently have an informal network of owners preparing to sell their businesses.īill Roller is the president and chief investment officer of BR Capital, Inc. Local business and real estate brokers, lawyers and accountants specializing in business transactions are also excellent sources for businesses on the market or better yet, soon to be on the market. Web sites like and can be a good source for small and mid sized companies on the market. Many businesses for sale are listed in the local newspaper. Finding the right one for you will be the challenge. As you can see, there are ample businesses opportunities in the area for those interested in buying or starting a business. Of the new members, she estimates 50% are new businesses to the area or startups. Gina Bacon, Communication/Public Affairs Coordinator for the Greater Vancouver Chamber of Commerce, reports the GVCC’s membership at 1400 with 45-50 new members joining monthly. Nearly 1200 of these licenses have been issued in the past year. But don’t get discouraged yet – for example, the City of Vancouver has 9000 licensed businesses. Now, where can you go to find your business? Many businesses change hands between family and friends. You have now determined the type of business that best fits your situation and how much you can afford to pay. Before using too much debt to finance a business be sure to understand the risks if payments must be delayed or cannot be made. Furthermore, many businesses for sale have track records that allow them to qualify for bank loans or supplier financing.

In addition to showing a seller has confidence in the business being sold, this also creates a larger pool of buyers for the seller’s business. Often times, sellers are willing to “carry paper”, or make you a loan, for a period of time. The limits of your investment are not the limits to the size of the business you can afford. The answer depends on your financial position, risk profile and the type of business you ultimately choose. It means determining how much of your wealth you are prepared to invest in a new business venture. How much cash can you afford to put up for a business? This isn’t the same as how much cash or liquid securities you have in the bank. Be sure to spend enough time discussing your dream with them before taking the plunge. Location, work hours and lifestyle are variables that will impact on other people in your life. Have you vetted your desires with others that your decision will affect? A spouse engaged in your search can be a great ally…a distant spouse an unexpected foe. Reputable business brokers and companies that specialize in matching buyers and businesses can significantly reduce your search time and increase the probability of success. If the world is your oyster, don’t despair, the process of finding your pearl can be gratifying if organized well and with a positive sense of purpose. Do you know what type of business you want to buy or start? Knowing the answer is not critical at the start of your search, but it sure helps narrow the scope and reduce the time it takes to identify qualified businesses. The process starts with a few simple questions. In today’s world of corporate downsizing and companies shifting production and service roles overseas, finding a business that fits you may not only be a dream, it may be a necessity. Many of us spend our careers working for employers, frequently wondering what it would it be like to determine our own financial destiny.

#Bill boss finanical how to#

How to follow your dream - Some critical thought and local resources can put you in the driver’s seat.ĭo you ever dream of being your own boss, owning your own business? If you have but aren’t sure how to go about it, read on.