Any time you have an opportunity to talk to clients about their businesses there are some key questions that you should ask to get to the core of what makes their business tick.
The questions really are quite simple;
- What do you sell?
- Who do you sell it to?
- Who do you compete with?
- Why do your customers buy from you instead of your competitors?
If you can get answers to these questions you’re well on your way to finding out whether the business is sustainable and when you get to analyzing the financial statements of the business you’ll have a much better understanding of the figures, not just historically but also going forward.