Don’t Buy What You Already Own
Return to main page
If you’re considering an acquisition to help grow your company, look for deals that offer complementary expertise, advises John M. Cook, CEO of The Profit Recovery Group, an Atlanta-based company that provides recovery audit services. When Cook purchased The Profit Recovery Group in 1991, it was making about $5 million in annual sales. That figure grew to $202.8 million in 1998, with $351 million expected last year, putting The Profit Recovery Group on Fortune’s list of fastest-growing companies. Cook’s shopping strategy: Whether an acquisition is large or small, his goal is to "acquire skill sets and industry knowledge of industries or services that I’m currently not in." Writer: TJ Becker
Related Articles
For Better Presentations: Think in 3s, ‘Paint Pictures’, Wiggle Your Toes
How to Determine the Legal Structure of Your Business
Evaluating Your Organizational Structure
In Need of Expansion Capital? Consider Other People’s Money
Are You a Control Freak?
Articles in our Entrepreneur’s Resource Center appeared in print and online newsletters published previously by the foundation. More than 1,000 articles can be found in the categories below, addressing timeless challenges faced by entrepreneurs of all types.