If you're on the path of entrepreneurship and looking to buy an existing business - buyer beware. What I'm trying to say is, there is a lot at stake and lot of effort required to becoming a business owner. That isn't intended to dismay you or alter your plans for buying a business, rather to caution you against unnecessary risks and prepare you for a lengthy process. And, with any process in the business world, there are always unforeseen circumstances that that catch you by surprise. Here's what you need to know about buying a business - as illustrated by this infographic.

Beyond uncovering a business listing that fits what you’re looking for, how do you know you’re working with the right business brokerage company? Don’t get me wrong, the business in question should always remain top priority, but while you’re researching, negotiating, dotting your I’s, and performing due diligence, who do you want at the table next to you?

See Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, as he answers this question by focusing on the goals of the buyer.

Join Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, as he talks about the team he has in place, ready to assist those looking for expertise when buying or selling a business.

See Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, explain how to stay focused on the business to maximize profit and more when selling a business.

Are you considering entrepreneurship and buying a business? Are you considering franchising? Raising finance for buying a business or securing external funding can tend to be a daunting process especially when you are a 'rookie' in the industry, and venturing into business for the first time or running small enterprises. Financial planning is very crucial to avoid making decisions or mistakes that can affect you for years. Only a few options may come to your mind, but there are many more you can explore. Consider some of the common financing options outlined below to make an informed choice.

During this interview, Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, sits down with WCCO morning news host Dave Lee to answer general business buying and selling questions. Interview details In this insider's look, Scott answers some of the common questions people ask about buying and selling a business. A few of the questions discussed in the interview are the following:

As an entrepreneur, you know the drive and the passion you have for business. And when it comes to becoming a business owner, you’re sure that’s the path you wish to take. However, with that path comes the choice of buying an established business or starting your own. There are pros and cons to each, but for many people, the pros are identified firmly within the buying side. Here’s an illustration of why buying an established business is the right choice.

No business is exempt from the effects of seasonality. Sure, seasonality is easy to picture if you’re selling hats and mittens or academic planners, but what if the ebb and flow of your business sales are a little less obvious? Even if a business isn’t thought of as seasonal, interest in and demand for products and services is still affected by seasonality. It’s a perfectly natural, and at times, annoyingly unavoidable aspect of business. But never fear. Just like we anticipate the leaves turning and the snow falling, the seasonality I’m talking about is predictable. This means it can be learned and understood. And, through that understanding, those perfectly unavoidable instances can be leveraged to your benefit.