If you are in the thrilling throes of setting up your first business, then you should be even more thrilled when someone with the correct expertise, knowledge and experience is able to give an honest appraisal of what you have achieved so far. At this point, if you have welcomed him into your life, you can expect him to be making just a few critical remarks. He will not overburden you or unintentionally dishearten you.
Part of his prowess is to recognize that deep down there will be some value in the idea you have going forward. Around the valuation and appraisal process, the business idea will be developed to its rightful conclusion, right to the point to when the doors of the first store are opened for the first time. If you are a budding entrepreneur and you are willing to listen, and this is your first venture into business, then you need to prepare yourself for a little tough love.
As much as your business appraiser will be doing his utmost to promote your business, he will not be holding your hand the entire way. That is something you do with your girlfriend or kids in the park. Keep an eye out for what business appraisers have to say about other businesses that have been spared being put out to pasture. There must still be some value in them if the appraisers are prepared to place market value on them.
This is something for those of you who have solidified enough investment capital or backing to purchase a new business or two. When shopping for a new business, always look out for those two fine characteristics; value and praise. There is always potential going forward.