So you’ve bought a business. Now what?

In this week’s column, I’ll offer some guidance from seasoned entrepreneur Vince Forgione about how to turn a business you’ve purchased into a smashing success. Today’s edition is one in a series of periodic installments that offer Forgione’s guidance on topics such as choosing, buying and — this week — building a business.

Here are five tips that emerged from Forgione’s and my conversation about building a business:

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If you can’t beat ‘em, buy ‘em.

Buying the right business can be a great opportunity, but buying the wrong one can wind up the costliest mistake of a lifetime. For guidance on how to determine whether a given business is a good one to purchase, I turned to Vincent Forgione, a Woodbridge-based entrepreneur who has bought businesses, sold them, and — through his consulting practice — helped others do the same.

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Rutgers student Adam Schefflan compiled the information in this section. Matt Matsuda edited and condensed it.

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Honors students from Rutgers University compiled the information in this section. Joe Shure edited and condensed it.

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