01 Not knowing your business investment parameters: There are many businesses for sale any given day. Being able to focus your search in the right area is crucial to finding the right business for you. Knowing your limitations and so what a business must either have or not have will ensure you find a good match for you. You need to know things such as Budget (Investment limits- cash/ finance), Location, Industry, Style of Ownership (Hands-On, Managing or Investor only), Skills Qualifications essential to success, etc. Research is crucial!