Mistake 1 Believe skim (Cash that is not on the books).
Mistake 2 Do not have inventory professionally counted.
Mistake 3 Do not shop banks for the best loan.
Mistake 4 Do not have a CPA.
Mistake 5 Do not know how to figure cash flow.
Mistake 6 Do not know the importance of a non-compete.
Mistake 7 Fail at negotiating.
Mistake 8 Forget about extending or canceling yellow page advertisement.
Mistake 9 Pay to have the purchase documents created from scratch.
Mistake 10 Want a trial period; i.e., work in the business before they own it.
Mistake 11 Do not know about the necessity of the UCC.
Mistake 12 Neglect to put negotiations in writing.
Mistake 13 Try to combine their present job with the purchase of a business.
Mistake 14 Get in a dispute with the seller.
Mistake 15 Do not think of having the locks changed.
