BOCA RATON- One way companies grow quickly is to acquire another business or form a partnership with one. Here are a few tips to help decide if one is better than the other for your business.
What is your goal?
Is it to acquire more customers or is it to acquire intellectual property you don’t currently have? Decide: Do you want to form a partnership to drive more customers cost-effectively, or do you need that business for more than just access to its customer base?
Is it core to what you do or where you need to go?
If the company you’re looking at offers something that would be nice to have, but is non-essential, a partnership may prove more beneficial than an acquisition.
Will it make your business more valuable?
If an acquisition doesn’t add value to your bottom line you may want to walk away. Make sure you’re going in for the right reasons and evaluate them to see their impact.
For more on this topic, or for no-cost consulting with certified business analysts, including growth acceleration consultants and PTAC specialists, contact the SBDC at 561-862-4726 or email sbdc@palmbeachstate.edu