Review of Buy Then Build by Walker Deibel
As an avid reader and someone who’s interested in entrepreneurship, I was drawn to Buy Then Build by Walker Deibel after hearing about its unconventional approach to starting a business. In an era where the prevailing narrative often emphasizes launching startups, the idea of acquiring existing companies piqued my curiosity. I felt it was essential to explore this perspective, and I’m glad I did.
Deibel begins with a powerful assertion: nearly 90% of startups fail. That statistic alone was sobering and made me realize why many first-time founders might feel overwhelmed. Instead of embarking on a high-risk journey, Deibel suggests bypassing the startup phase altogether and acquiring an existing, profitable business. This notion, coupled with his proven track record of acquiring several companies, makes for a compelling argument.
The book is filled with actionable insights, making it a practical guide for aspiring entrepreneurs. For instance, Deibel provides step-by-step instructions on evaluating opportunities and executing deals, which I found immensely helpful. As noted by Steven Marshall, one reviewer, this book is a "great practical guide" aimed at those wanting to establish themselves without the burdensome pressure of innovating a brand new idea. This sentiment resonated with me, as the book served as an effective roadmap for navigating the often opaque acquisition process.
Another highlight was Deibel’s discussion on financing acquisitions. He emphasizes that business acquisitions are often funded through bank loans rather than investor equity, which is an eye-opener for many. This allows entrepreneurs to maintain full control over their businesses—a luxury not typically afforded in the startup world. Michael Michelini’s review echoes this sentiment, noting how this insight truly rewired his approach to business.
However, the book is not without its drawbacks. Some readers, like Alex, pointed out that while the advice is solid, certain sections could benefit from deeper detail or updated data. Although I found the book well-structured and inspiring, I agree that a few areas felt a bit glossed over, especially for newcomers who might need more foundational knowledge.
Additionally, while the book is aimed at a broad audience, I sensed a slight bias towards the American capital markets. Some strategies may not seamlessly translate for entrepreneurs in different countries, which might be a limitation for a global audience. As someone currently based outside the U.S., I occasionally found myself pondering the applicability of certain funding strategies in my own context.
Despite these minor critiques, I believe Buy Then Build delivers significant value for anyone considering entrepreneurship through acquisition. With its blend of theory and practical frameworks, the book equips readers with the tools to make informed decisions in the business acquisition landscape. Raj, another satisfied reader, described it as "perfect for anyone even remotely serious about acquiring a small business," which encapsulates its intent beautifully.
In conclusion, Buy Then Build is a thought-provoking and practical guide that challenges the conventional narrative surrounding entrepreneurship. Walker Deibel not only equips readers with necessary skills but also inspires a new wave of entrepreneurs who can see success without the heavy burdens associated with startups. If you’re an aspiring business owner or already on your entrepreneurial journey, I would highly recommend giving this book a read. It provides a fresh perspective that might just shift the way you think about building your business.