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Understand the Risks Before Committing
Quitting a job and moving without clear operational insights can lead to chaos. Key lessons learned include the necessity of evaluating the work in progress ratio and ensuring it is well-defined prior to closing a deal, especially in manufacturing where revenue and costs are closely tied to inventory. Undisclosed fair market rents and financial implications can jeopardize profitability assessments. Additionally, high customer concentration and key person risk are significant factors that can threaten a deal's viability. Without addressing these risks upfront, significant financial and operational instability can ensue.