Autocratic Leadership Style: Buying A Successful Business?

1921 Words8 Pages
Buying a successful business? Have you ever thought of being yours own boss? Have you ever thought of working without someone giving you orders? Have you ever thought of planning and arranging your own business? Have you ever thought of how pleasant it is when you can chose when and how to go to business anytime? The answer to all of these questions is an absolute yes for most of you. Why not buy your own business? In the following extract I will be talking about the steps and methods to be taken into accounts before buying a successful business whether it’s a franchise business or a small limited successful business. Most of the people are more into buying a franchise business rather than limited small businesses. The reason behind buying…show more content…
A good leader can be very effective in the production output. There are various kinds of leadership style (Autocratic leadership style, democratic leadership style…). Nothing can be bought if you don’t have money so arranging finance might be difficult, you can take a bank loan which has to be paid back with a heavy interest rate, but you can also borrow from your family or friends if they are able to give you. There are various kinds of leadership style some of the most common leadership style are autocratic leadership style and democratic leadership style. Autocratic leadership style is a leadership style in which all the decisions are made by the owner and only a little input from group members but democratic leadership style is completely the opposite of autocratic leadership, it’s a type of leadership which things are discussed with the members of the group before taking a decision everyone has the opportunity to participate and ideas are exchanged freely. In that case before buying any kind of a business you must know what leadership style would you want to follow in order to be successful but keep in mind of having a finance (cash) to buy the business or opening a new business. Finance can be arranged in two ways which are taking loan from banks which you will have obviously have to pay them back but with a heavy interest rates or you can borrow from your rich family and friends which I would personally prefer you to do because you pay them with no extra money ( without interest rates ). After buying a business with your capital you will also want a lot of returns from your business that you want to own you can do that by cash flow forecast which is the amount of money coming in to the business and the amounts of money going out of the business at the end of the month. Cash inflow and cash outflow, cash inflow is the money coming in the business and cash outflow is the
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