Have you ever thought about buying a business? If so, today’s episode is for YOU!Walker Deibel -- author of the best-selling “Buy Then Build” -- is here to talk about buying businesses. Not only was Walker’s book recognized as one of the top 7 books all entrepreneurs must read, but it’s currently being used in university MBA programs around the country.In this episode, Walker walks us through why buying a business is better than building one from scratch (did you know that only 4% of companies ever exceed $1M in revenue?), why now is the perfect time to be looking for the right business to purchase and what type of businesses we should be considering buying.We then jump into the process of buying a business, how to ensure that you’re adequately represented on your side of the deal, and what you should be doing TODAY to make progress towards buying your first -- or next -- business.Make sure you listen to the end where Walker tells us the biggest mistake he sees entrepreneurs making, and the most important thing you should be doing the day you close on the purchase of your new business.Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsBiggerPockets Business Podcast 17: Using Fear as Fuel with Alejandro Velez and Nikhil Arora, Co-Founders of Back to the RootsBack to the RootsCostcoForbes MagazineLinkedInSquareCheck the full show notes here: https://www.biggerpockets.com/bizshow68
Walker Deibel, is an entrepreneur, investor, and advisor. He also the author of a book that is critical to master a framework to become an acquisition entrepreneur: Buy Then Build.
With Walker, we covered the key steps to get into the mindset and process of acquiring businesses, to then scale them up further.
How did you get started as an acquisition entrepreneur?
Inside acquisition entrepreneurship
How did the name “acquisition entrepreneur” came up?
What are the critical elements for a good acquisition strategy?
Lack of urgency
Create a sense of urgency
Pitch the seller
What mistakes should you avoid when acquiring a business?
Go after a great opportunity
A growth mindset is critical
Why is not a good idea to start looking for businesses to buy online?
What do you suggest to people that are getting started in acquiring other businesses?
Understand your strengths but also your weaknesses
Visualize the outcome and take action
Find your sweet spot
Is there an example of the perfect acquisition you’ve made?
When does it make sense actually to use leverage to acquire a company?
In another exciting episode, we chat with Walker Deibel, an author, advisor and acquisition entrepreneur who has cofounded three startups and acquired seven companies. Walker’s Four Steps to Acquire a Business: Realize that 90 % of those who look to purchase an existing business never do. Discover the “growth opportunity” you can push or scale. Get […]
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