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GuestR401x3
Guest
I am currently reading a book called "Buy than Build" by Walker Deibel and wanted to hear your thoughts on this.
He says in the book that you can buy an existing company for very little down, and you will have a lot higher chance of success than starting a business from scratch.
According to Deibel starting a business from scratch has a 1 out of 10 chance of success. But by buying an existing company you own an asset with a proven product, paying customers, employees, and brand awareness. You pretty much skip the growing pains.
Because you are a fresh mind and an entrepreneur after acquiring a business that is often running on legacy systems, you can do a lot to improve profit. You can improve operations, decrease cost, increase prices, improve sales and marketing, etc.
What do you think, is buying a business rather than starting from scratch a better way to start your entrepreneur journey?
He says in the book that you can buy an existing company for very little down, and you will have a lot higher chance of success than starting a business from scratch.
According to Deibel starting a business from scratch has a 1 out of 10 chance of success. But by buying an existing company you own an asset with a proven product, paying customers, employees, and brand awareness. You pretty much skip the growing pains.
Because you are a fresh mind and an entrepreneur after acquiring a business that is often running on legacy systems, you can do a lot to improve profit. You can improve operations, decrease cost, increase prices, improve sales and marketing, etc.
What do you think, is buying a business rather than starting from scratch a better way to start your entrepreneur journey?
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