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AP Small Business Article

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AP Small Business Article

Unpleasant surprises: Buying a company can bring challenges

NEW YORK (AP) — When Matt Barber and Joel Doub bought a fishing rod manufacturer two years ago, the plan was for previous owner Tom Morgan to stay with the business for five years to mentor them. But six months after the deal closed, Morgan died unexpectedly.

“It forced us to sink or swim and accelerated our learning curve,” says Barber, co-owner of Tom Morgan Rodsmiths in Bozeman, Montana. “My approach was, OK, here’s a setback, let’s put our heads down, stay positive and persevere.”.....

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