If you do not know what to look for here are some pointers:
1. Customers complain about your competitor;
2. Employees from your competitor apply for a job with your business;
3. Competitors loosing the plot, i.e. unrealistically low prices;
4. Court judgements against your competitor or disgruntled suppliers;
5. Partners and directors resigning or leaving the business.
6. Is their online presence being neglected? Has it been ages since they updated their website? How does their social media output look?
2. Employees from your competitor apply for a job with your business;
3. Competitors loosing the plot, i.e. unrealistically low prices;
4. Court judgements against your competitor or disgruntled suppliers;
5. Partners and directors resigning or leaving the business.
6. Is their online presence being neglected? Has it been ages since they updated their website? How does their social media output look?
Be aware of potential pitfalls, especially if you have never done this sort of thing before. Get your accountant to help you evaluate the competitor and then make a move.
Don’t loose your business focus, however tempting the opportunity. It is easy to damage your business with an uncontrollable acquisition.
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