Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game ペーパーバック – 2018/10/20
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Entrepreneurs have a problem: startups. Almost all startups either fail or never truly reach a sustainable size. Despite the popularity of entrepreneurship, we haven’t engineered a better way to start. …Until now.What if you could skip the startup phase and generate profitable revenue on day one?In Buy Then Build, acquisition entrepreneur Walker Deibel shows you how to begin with a sustainable, profitable company and grow from there. You’ll learn how to: ● Buy an existing company rather than starting from scratch● Use ownership as a path to financial independence● Spend a fraction of the time raising capital● Find great brokers, generate your own “deal flow,” and see new listings early● Uncover the best opportunities and biggest risks of any company● Navigate the acquisition process● Become a successful acquisition entrepreneur● And moreBuy Then Build is your guide to outsmart the startup game, live the entrepreneurial lifestyle, and reap the financial rewards of ownership now.
After spending almost two decades working for other people, I took a leap of faith and purchased a company in the months leading up to the fall of Lehman Brothers and the beginning of a pretty major recession. This was the beginning of an entrepreneurial journey that has included growing that original business by opening another location, starting up my own consulting business from scratch, joining another entrepreneur in launching a startup with several partners, and acquiring a manufacturing business.
Why do I tell you this as part of my review? Because Buy Then Build tells the story of the most efficient way to become an entrepreneur and a business owner/leader - buy the business from someone else. In his book, Walker takes you through all of the steps necessary to become an Acquisition Entrepreneur - The Opportunity (of business ownership and the demographic change in America), The Evaluation (of yourself and the market itself), The Analysis (of the target business), and The Execution (of the deal and running your new business).
Walker does an amazing job of documenting all the steps, but also helping you navigate the landmines that litter the landscape as you consider becoming a business owner. His details cover self-assessments, working with business brokers and "deal flow," building projections and forecasts, drafting a Letter of Intent, conducting Due Diligence, closing the deal, and running your new business in the first 90 days. I've done all of these things, but I never called it Acquisition Entrepreneurship. And I never documented the process.
I am not a fast reader, but I couldn't put this book down. If you are interested in becoming a business owner or growing your current business through acquisition, I strongly encourage you to read Walker's well-written book!
What about my headline? Read the book to learn about the $10 Trillion opportunity, but let's keep it a secret so we can take advantage of these conditions!
SOME of what he teaches includes:
- How to find businesses that would willingly sell out (including their team, clients, assets, systems & processes, associated real estate, etc.)
- How to find the business valuation
- Why buying a profitable, working, well-tested business is better than starting from scratch
- Why buying a business is SIMILAR TO AND AS AFFORDABLE as buying REAL ESTATE (down payment + monthly financing for x years -- 10 years is his style)
- How to raise the appropriate funding if you can't afford it with straight cash (SBA loan, venture capital, private lenders, etc.)
- The process of buying a business, using your skills to fix it, and making it more profitable than before PLUS making massive ROI when or if you decide to RESELL!
- Who and what to look for when looking to get connected with business brokers, CPAs, attorneys, etc. when you want to discover business listings OR make offers to specific businesses.
After reading it, I've realized the game of buying businesses (acquisition entrepreneurship) is WAY BETTER than starting from scratch or buying real estate. The quickest way to a massive empire is using these tactics in the book. I'm BLOWN AWAY by the amount of detail in the book. It's just pure numbers game, and the book is full of amazing content.