A(n)_____ Is an Old System That Might Have Cost Millions

question 28

Short Answer

A(n)_____ is an old system that might have cost millions of dollars to develop and patch or modify repeatedly over the years.

Understand the increasing popularity of buying existing businesses as a pathway to small business ownership.

Understand potential liabilities associated with past business contracts when purchasing an existing business.

Comprehend the significance of business valuation methods, including the review of industry sales.

Appreciate the role of informal networks in finding business opportunities.

---

Definitions:

Persuasive Techniques

Strategies used in writing or speech to convince or influence the audience to adopt a particular point of view or take action.

Gather Information

The process of collecting data from different sources to gain a comprehensive understanding of a subject or situation.

Request For Proposals

A formal document that solicits detailed bids from potential vendors or service providers for a specific project or need, aiming to evaluate available options.

Soliciting Proposals

involves requesting formal submissions from vendors or partners to evaluate potential solutions or services for a specific need or project.