Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

by: Walker Deibel (0)

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.

The Quotes

While considering acquisitions as an investment, keep three fundamentals in mind: return on investment, margin of safety, and upside potential.

Banks offer loans to buyers for up to 90 percent of the purchase price, using the assets of the business as collateral.

It’s the combination of innovation and existing customers that wins in the war of disruptive technologies.

The Reviews

I believe this is my first Amazon review of a book that I have read. I read a lot of books, but none have compelled me to tell other people about it like Buy Then Build, by Walker Deibel.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!

Walker COMPLETELY DESTROYS the idea that you have to start from the bottom (IF YOU ARE NOT RICH) to make a business (or entrepreneurship itself) work for you. The biggest thing that stood out to me is that BUYING A FULLY PROFITABLE/ WELL-TESTED BUSINESS CAN BE AS AFFORDABLE AS REAL ESTATE. Yes... read that again! I'm blown away by this. I always saw real estate as the end-all be all but walker walks (hehe) through why you're better off buying a business.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.

As I prepare to go to the Invest Like a Boss podcast meetup here in Chiang Mai on Jan 3, 2018 - I felt I should catch up on some reading about investing and this one was a new one with amazing reviews so I couldn’t help myself.Buy Then Build is a book about what the author calls a new trend for entrepreneurs - to be Acquisition Entrepreneurs.To start off the book, he makes the case that something like 90% of startups fail, and those that you say succeed simply become small to medium sized enterprises with nothing special. That the ones who win in the startup game are not the entrepreneurs, but the investors. They get to spread their bets across multiple startups and just need one to win, while the entrepreneur is all in on 1 startup with a 90% chance of failure.So Walker, the author, says to instead skip past the startup phase and buy an existing business with positive cash flow.It makes sense - as he shows the numbers of failures in this stage is something like 5% (95% success rate) so the complete inverse of the startup phase.Plus, it seems cheap! Paying 2 to 4 times of SDE (seller discretionary earnings) for a company that already has product market fit and is earning positive cashflow - compare that amount of investment with what you would need to do it from scratch.The real eye opener for me was that you can finance these acquisitions with the bank. And then pay yourself salary while also paying back the bank loan - and keep 100% of the company /equity (as its a loan not equity investment).Throughout the book you get step by step instructions and almost the exact wording to use when talking to brokers and the other players in the acquisition game.My favorite part is that the author says there is tons of opportunity to be creative in these companies you acquire - and that you need to know yourself and your own strengths. Not to look for a company by industry, but more for what suits your needs as an entrepreneur / investor.And what is even cooler, you can use that cashflow to invest in growth and leverage the existing customer base on a new technology. As all so many times when starting a company you are scrambling to get customers why not by an existing company, get financing, and then plug in your technology idea into it with its existing client base.Seems like a fun game that can be repeated every five years or so (plugs into a recent post I talked about 5 year plans 999999) and you can focus on your own strengths each time - applied to existing customer bases which need your skill set.My only concern, as an American in Asia, I probably can’t tap into these bank loan options. But for many of you reading this - if you have good credit and maybe a home to put up and your personal guarantee (as a US person) it can be a great way to jump right into entrepreneurship.

I like this book because of it's fact based positivism. I think it provides a good initial overview of this type of entrepreneurship and gets ready to deepen the knowledge.

Better than start up, the buy then build approach is a great option for the entrepreneur minded who want to reduce risk and get a head start with building a business. You’ll get a good overview of the process and the key steps and pitfalls. A must read to get started before you decide to start from scratch.

Enjoyed every bit of it and gain much needed knowledge on the topic. If you are aspiring to pursue your own venture - check it out first!

Walker is in a category of one when it comes to expertise in small business acquisitions. There isn't even a runner-up.Walker has a gift for clear communication and teaching. That's on full display in the book, which is a fast read.I hesitated to write this review because frankly I prefer Walker's work be kept somewhat secret.But I have to give credit where credit is due. Book changed course of my life. I implemented the methods, acquired a business, and am now having the time of my life. This is the playbook you need if you want to acquire a small business.

Love the comparisons to tech and startup world and the detail of where to begin. It’s been a excellent guide for us so far.

Anyone considering a startup should read this book. Acquisition entrepreneurship is an alternate path to achieve what one hopes to in a startup.

This is fun, i would possibly try something else if you’re wanting a “WOW” on your own (If you get my drift). But so fun when using as a couple.

Fun and versetile, although it could be a bit more firm and less floppy. A lot of the vibration is lost because the fingers are so soft. If you're looking for something fun to add to your foreplay this is a great option that's only limited by your imagination

The packaging and the toilet it’s self was really cool. The things I liked the most was the fact that it had two Vibrating heads. The thing I didn’t like about it was the fact that if you pulled too hard in the middle the thing stopped working. When literally it’s meant to be stretched. It broke easily is basically what I mean.

I will just say we both love it. Works for both very versatile for her or him. Had a problem with the first one they sent out new one without any hassle. Very glad I had them replace it and not give a refund. Recharge cord has magnet so it connects better. Has a long charge time on battery. Very well made. A must have for bedroom fun. Glad I read all the reviews which helped me make the purchase so glad I did. Its my favorite one out of my fun drawer.

It's not bad but not great either,was expecting it to be a little different. The vibration's all seem to be very full throttle & intense to us & would prefer something a lil more mild but overall it's a quality massager

It's okay. I wish it was a little firmer. Like the multiple ways it can be used. Hubby likes it better than I do. There has been no backdoor use so we can't speak to that aspect.

I do like this product, just sad that it does not reach to both nipples. I'm a 38D just so you get an idea. it does work for other things very well. I do enjoy this product.

The lowest setting on this vibrator is more intense than the highest setting on any other vibrator that I've used. Too much vibration becomes uncomfortable after just a few minutes.

perfect for mixing and mastering. Sounds great on normal listening as well. Sennheiser never fails to impress me. Little pricey but worth the $

Before buying a cheaper pair of headphones, you have to realize that audiophiles everywhere will say that one of the best hi-fi headphones that all others are compared against are the HD650's. There are more or less expensive headphones that you could buy, but if you after reference quality, by which all other headphones you ever will buy will be compared to (more far worse, and few better), these are the gold standard.I use these headphones to listen to music on the PC, so my recommendations are based on this. You need an adequate powered source to get the full benefit of the sound quality on these cans. I suggest at a minimum that you have a dedicated sound card with the ability to power 150+ohms, such as the Asus Xonar Essence STX. You can use an iPod or iPhone, but you would be doing an injustice if you didn't properly power these with an amp (i.e. Fiio E17). The other option is an external DAC/AMP combo such as the Asus Xonar Essence One. These are obviously not the only options, and i'm no rep for Asus, but they are very good PC options for quality sound output from your PC without breaking the bank.The quality of the pads on the ears are great. They are soft and breathable, and never make my head sweaty. I can wear these for 8+ hours without any fatigue or irritation. The strap holds snugly, and doesn't feel like it is going to fall off if I move my head too quickly. Cable quality is excellent. Gold connectors with a jack adapter is included as well.When you first hear these powered properly, playing high quality FLAC files, you will be amazed at what you hear. Because they are open over-ear headphones, you get a wide airy soundstage that doesn't feel like the sound is being forced at you. It feels like it surrounds you, enveloping you in an experience in sound. The disadvantage of open headphones like this is that others will also hear it. So, it is not something to be using when you are in close proximity to others who may not like your taste in music.If you are tired of headphones that don't meet your expectations, you need to step up and buy these headphones. Power them properly, and they will say "Thank you, now let me make love to your ears".You will not regret it.

Easy listening and detailed. PerfectWas worried about a lack of bass. They don’t shake your core but the bass is punchy, clear and accurate. I listen to all kinds of genres from Amy winehouse, to Tool, and jazz. They are just what I am looking for for all.

Amazing if you want a clean, crisp and well defined audio. Will be my daily phones for a long time to come.

The only other expensive pair of headphones I've owned were the Beats Pro, which I absolutely loved before I bought these bad boys.At first, I was underwhelmed by the lack of bass & forwardness that I was used to from my Beats.That was until I went BACK to the Beats to listen to how they sounded after hearing the HD650s for a couple hours. Well, let me just say, the beats sounded like GARBAGE. I was blown away by how terrible they actually sounded after letting my ears adjust to the HD650s.After a couple months, I'm now completely adjusted. I no longer miss the bass of the Beats.I amplify mine with the 'Schiit Valhalla' & currently use a 'Focusrite 6i6' as my DAC. I absolutely love & recommend them if you plan on paying for a similarly priced amp, and you have a quiet room to use them in.If you're new to headphones and want something easy, I would not recommend the HD650 to you. If you are willing to spend about 1000$ CAD between these and a solid amplifier, I don't think you would regret the purchase.

Being a producer,composer,audiophile for about 15 years,i can honestly say these are the best investment I have ever made on headphones,they require burn in time but I was blown away listening to them right out of the box,if you are a music producer and cant use monitor speakers all the time I recommend the HD 650's,just make sure you have an amp that can drive 300 ohms,i did much research on these before I finally bought them,and now wish I had gotten them years ago. they are very well balance and let you hear things the way they were intended to be heard,incredible soundstage and jaw dropping accurate low end,highs are slightly rolled off but I prefer it that way as they will not slice up your ear drums,serious producers will adore the hd 650's,they will get you 85%-90% of the way there,the rest should be done using studio monitors,they are pricey but well worth it once you hear them and apply them in your studio,i also have Akg's 701,which in a lot of forums people said they were the way to go over the 650's and i must say the sennheiser HD650"s put them to shame,i could never get my mixes right using Akg's,Akgs 701"s are good but not in studio applications,i also read the HD650"s would sound "crappy" out of the box,so so very untrue,i highly recommend these to serious music producers,who like I said before cant use studio monitors speakers all the time,and want to get their mixes up to par,in my experiance it is not impossible to get a great mix using the"right"pair of headphones,knowledge is power,and trusting your ears,and do the final mix with a good pair of monitors

I like the quality of the construction. The open sound experience.

Very well written, Walker is the master of teaching mergers and acquisitions!!

Good Reading

If you want to enter the world of entrepreneurship/business ownership but don’t know where to start. Then start here.You’ll learn everything you need to take the next right steps toward achieving whatever acquisition goals you have.Seriously, there is no one better to learn from than Walker Deibel and this book sets the roadmap for a successful acquisition journey.

Bought this for a gift, the child is really hard on clothes. A little tomboy. It was filthy after first wear, washed it, and hung to dry and it came clean and ready to wear again. Very impressed with jacket.

My teenage daughter ordered this for school and she often gets clothing from overseas that are not quality just because they look cute and fashionable. However, this hoodie was of excellent quality! It fit my daughter well, was not too small, and was super cute too! Really loved this hoodie and so did my daughter! Highly recommend!

pretty nice! only thing that bothers me is that hair+lint sticks to it really easily lol

My GD loves this she wears it all the time. It's thick, but not too thick, good quality. Would buy again.

My daughter loves this sweatshirt! She said it’s cozy and she got a lot of compliments on it…which are tough to come by in middle school these days.

I get lots of compliments on this hoodie.

I like that it was as advertised. Good for the price.

ordered 2 XL and it came in large. still fit fine for us just keep that in mind when buying this product. fabric seemed about as cheap as you would expect for the price. but still very soft and very warm. keep in mind, not an actual hoody for outside. seems more like a heavy shirt. so really only good for staying warm cozy and cute inside. would strongly recommend to anyone looking into this product. def pretty worth it!!

The author makes a very compelling case for this approach to entrepreneurship. Also useful for sellers (small business or startup owners) to understand the motivation and approach of acquisition entrepreneurs.

I’ve read this book multiple times, and each time I gain more valuable information. Well written and easy to read this book is invaluable to those who want to get started in buying businesses.

It certainly does relax you and it last for a long time I love it and I would love Airwick You walk into my home and it smells beautiful and I do have animals never know it

Love the color and the feel. Perfect for casual and semi-casual wear. Complete the outfit with brown shoes.

I was searching for hose that doesn't leave marks on my legs and pinchThese are perfect.

These are great, color is what I wanted, just a little loose, I’m a 7, and there a little big, but I still love them

Socks feel good and are long lasting.

The socks are a beautiful color, they fit very well, and are extremely soft. The reason why I gave it 4 stars was because it is tighter on top than I thought it would be and leaves a red line on my calf after an hour or so, but I do have large calves with lymphedema so maybe you won’t have that problem

Just the right thickness and material

I have been wearing these socks for years and I love them. Soft, not too stretchy or thick, perfect with dress pants or jeans. I just wish that HUE would make these in more color combinations.

They were exctly what I had hoped for - good quality at a reasonable price

The chains the charms are on are completely different and are cheaply made and the charms are big and cheap looking.

kindled. Necklaces are Crap.

Walter Deibel knows the business when it comes to buying an existing business. I love the fact that he references several books and articles. This book is really simple but takes you from a person with no business experience and goes through the paces of identifying what you want and how to get it. I have started three businesses in my 28 years of being an entrepreneur. I wish I would have just bought an existing one as I plan on selling part of my existing portfolio and investing in a business after going through Walters Acquisition Lab simply because investing in the right company has the biggest returns with the lowest risk utilizing great leverage with an SBA loan. This book should be read along with "Who Not How" and "Good to Great" to get the best foundation to start. Thanks, Walter for raising my awareness.

Great book! That's the book that actually motivated me to finally by two small businesses and develop them! I'm glad I had it at the right moment of my life.

Extremely well written and a must read for anyone thinking about purchasing an existing business.

This product was fine for the money

NOT THE DESCRIPTION I RECEIVED. THE PICTURE ON THE LEFT IS WHAT I RECEIVED. THE PICTURE ON THE RIGHT IS WHAT IS ON AMAZON. IT LOOKS JUST LIKE THE ICEMAKER I GOT FEBRUARY, 2021. IT DIED SEPETEMBER 2022. THE MANUFATURER WANTED ME TO SEND IT BACK TO THEM. FOR $235. FOR A REPAIR. THEY WOULD NOT TELL ME HOW TO REPAIR. THE ONE ON I GOT IN FEBRUARY 2021 WAS $329. THE ONE i GOT, ON THE LEFT WAT $679. I HOPE IT LASTS LONGER. I DOUBT IF IT WILL. IT LOOKS LIKE THE EXACT SAME ONE. THERE IS NO KNOB ON THE ICEMAKES I RECEIVED. IT IS A SCAM. IT IS NOT WHAT I GOT THAT IS IN THE PICTURE.

Needed an ice maker that fit in the space of the drawer/cabinet that we removed below the counter. Most ice makers are designed to sit on the ground and be counter height. That wouldn't work for us. Fit well, makes good ice. Little frosting on the top, but isn't too bad.

Walter Deibel knows the business when it comes to buying an existing business. I love the fact that he references several books and articles. This book is really simple but takes you from a person with no business experience and goes through the paces of identifying what you want and how to get it. I have started three businesses in my 28 years of being an entrepreneur. I wish I would have just bought an existing one as I plan on selling part of my existing portfolio and investing in a business after going through Walters Acquisition Lab simply because investing in the right company has the biggest returns with the lowest risk utilizing great leverage with an SBA loan. This book should be read along with "Who Not How" and "Good to Great" to get the best foundation to start. Thanks, Walter for raising my awareness.

As I prepare to go to the Invest Like a Boss podcast meetup here in Chiang Mai on Jan 3, 2018 - I felt I should catch up on some reading about investing and this one was a new one with amazing reviews so I couldn’t help myself.Buy Then Build is a book about what the author calls a new trend for entrepreneurs - to be Acquisition Entrepreneurs.To start off the book, he makes the case that something like 90% of startups fail, and those that you say succeed simply become small to medium sized enterprises with nothing special. That the ones who win in the startup game are not the entrepreneurs, but the investors. They get to spread their bets across multiple startups and just need one to win, while the entrepreneur is all in on 1 startup with a 90% chance of failure.So Walker, the author, says to instead skip past the startup phase and buy an existing business with positive cash flow.It makes sense - as he shows the numbers of failures in this stage is something like 5% (95% success rate) so the complete inverse of the startup phase.Plus, it seems cheap! Paying 2 to 4 times of SDE (seller discretionary earnings) for a company that already has product market fit and is earning positive cashflow - compare that amount of investment with what you would need to do it from scratch.The real eye opener for me was that you can finance these acquisitions with the bank. And then pay yourself salary while also paying back the bank loan - and keep 100% of the company /equity (as its a loan not equity investment).Throughout the book you get step by step instructions and almost the exact wording to use when talking to brokers and the other players in the acquisition game.My favorite part is that the author says there is tons of opportunity to be creative in these companies you acquire - and that you need to know yourself and your own strengths. Not to look for a company by industry, but more for what suits your needs as an entrepreneur / investor.And what is even cooler, you can use that cashflow to invest in growth and leverage the existing customer base on a new technology. As all so many times when starting a company you are scrambling to get customers why not by an existing company, get financing, and then plug in your technology idea into it with its existing client base.Seems like a fun game that can be repeated every five years or so (plugs into a recent post I talked about 5 year plans 999999) and you can focus on your own strengths each time - applied to existing customer bases which need your skill set.My only concern, as an American in Asia, I probably can’t tap into these bank loan options. But for many of you reading this - if you have good credit and maybe a home to put up and your personal guarantee (as a US person) it can be a great way to jump right into entrepreneurship.

My husband loves this new wallet. I bought this for him to replace a slim, tactical, slide wallet that held cash with a rubberband. He likes to carry a little bit of cash and his old wallet didn't make carrying cash very easy. It would take several minutes for him to organize and put his cash back.Now, with this wallet, he can carry a total of 6 cards (which is 2 more cards than before) and he can take out / put back cash so much faster!!! To top it all off, it is RFID secure.

I purchased this as part of my bosses Christmas gift. It arrived on time and in nice packaging. He likes that it is slimmer and that his most used card can be on the outside and not have to open and see his cash all the time or everyone else to see it.

My favorite front pocket wallet yet. It feels great in the pocket and in the hand. Plenty of card storage space and comes with a spare money clip, a nice gift box and a cloth drawstring bag. Well made with good quality leather. Fast delivery as well.

Just what my husband looking for. Great quality and slim

Muy buena calidad. Super pequeña y practica. Es un buen regalo

Well made, quality leather. Purchased as a gift, and recipient chose another style. Would still recommend this wallet.

The wallet is great.

Just the right size

This is one of the few books that don't lie to you about acquiring a business. They do not teach you how to acquire a business with no money down because it's not possible! I highly recommend this book if you want to do things the right way.

Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game
⭐ 4.7 💛 1105
kindle: $6.49
paperback: $14.69
hardcover: $23.58
Buy the Book