The Biggest Lie in Business Buying: “Just Hire a Manager”

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by a professional from Bishop's University
in Moncton, NB, Canada

4h ago

The Biggest Lie in Business Buying: “Just Hire a Manager”

**New Video Alert! Spend a few minutes on social media and you'll hear it: "Just buy a business and hire a manager." It sounds simple. But the reality of business ownership is very different. In this video, I explain why managers still need supervision, why owners carry responsibilities that can't be delegated away, and why this popular advice often creates unrealistic expectations for first-time buyers. Watch the video here: redacted Cheers See you over on YouTube David C Barnett #BuyABusiness #BusinessAcquisition #Entrepreneurship #SmallBusiness #ETA #BusinessOwnership #Management #BusinessTips #Investing

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reply by a professional 3h ago
from Duquesne University in Stamford, CT, USA

Great take and I’ve been pointing this out too - sounds so simple in theory, but it really isn’t. Hiring requires knowledge and an ability to hire the right person. Until you have that person, you own the downside of a business as much as you own the upside. You have to step in when you’re needed. And if you don’t know how to hire, you’re going to be in a worse position with the wrong hire. It’s significantly easier said than done.

reply by a searcher 38m ago
from University of Michigan in Raleigh, NC, USA

More of this. Thank you for sharing. I see it way too often...someone gets convinced by a guru to just buy a business, hire a manager and count your money. It usually ends up going sideways quickly.