The Buy Then Build book is one of the few business titles written specifically for people who want to acquire an existing company instead of starting from scratch. Walker Deibel published the book in 2018. It treats buying a business as a path to ownership and walks the reader through searching, evaluating, financing and running an acquisition. This review covers the main stages, how to use the book with other resources, and the claims that deserve independent checking.
What the Buy Then Build book covers
The book argues that buying an established company can lower some of the risks of a startup, because the business already has customers, systems and revenue. It describes a process that begins with deciding what you want and why, moves to finding and screening targets, and continues through valuation, negotiation, financing and closing.
The author also discusses the first months of ownership, when a new owner must keep the business stable while learning it. Later chapters cover growth and, eventually, the sale of the company.
Why it is worth the time
The book is organized in stages, so it works as a reference. Read it straight through for the overview, then return to the chapters that match the stage you are in. Keep a notebook for questions to ask sellers and advisors.
Lessons for business owners and buyers
These ideas carry over well to anyone running or evaluating a business:
- Define your criteria first. Know your budget, industry preferences and time commitment before you shop.
- Screen quickly. A short list of must-have criteria saves time on poor fits.
- Verify the earnings. Compare tax returns, bank statements and financial statements.
- Plan the transition. Negotiate training and introductions from the seller.
What to question
The book describes one approach, and the market for small businesses differs by region and industry. Prices, financing terms and seller expectations change over time, so check the numbers against current conditions. Some readers find the process more optimistic than their local market supports.
The book is also not a substitute for professional advice. A lawyer, an accountant and often a broker or valuation expert should review any real deal.
Buying a company carries risk, and no book can promise a profit.
Put the ideas to work
Write a one-page buyer profile: budget, industry options, location, hours you can work, skills you bring and deal-breakers. Share it with an accountant and a lawyer before you contact any seller. Then build a simple tracking sheet for each target with price, earnings, reason for sale and open questions.
Pair the book with detailed checklists. Our due diligence guide and our post on financing a business opportunity cover the verification and funding steps in depth.
Questions to ask before you act
Why is the owner selling, and can that reason be confirmed? Which employees and customers are critical, and will they stay? What portion of the earnings depends on the current owner personally?
Write answers for each target and compare them side by side. If a seller is unwilling to answer, treat that as information.
How it compares with other business books
Most business books assume you start from nothing. This one starts with an existing company, so it fits next to our reading list in books for business buyers. Use it for process, and use a financial book for the numbers.
A simple thirty day plan
In week one, write your buyer profile. In week two, meet an accountant and a lawyer who know small deals. In week three, review listings on SmartBizOpps and similar sites and screen five against your criteria. In week four, request information on your top two and prepare a list of due diligence questions.
Mistakes to avoid
Do not fall in love with the first business you see, do not skip the lawyer, and do not pay for earnings you cannot verify. Also avoid stretching your finances so far that a slow first year puts your home or family at risk.
Reading the seller’s story with care
Every seller has a story about why the business is a bargain. Listen to it, then check each claim. If the owner says weekends are free, ask who answers the phone on Saturday. If the owner says customers are loyal, ask for the number who have bought for more than three years. If the owner says sales are growing, ask to see monthly sales for the last thirty-six months. Verified facts, not enthusiasm, should set your price.
Who should read
This book suits first-time buyers, career employees exploring an acquisition and anyone who wants a roadmap before talking to brokers. Experienced buyers may use it as a checklist.
Helpful outside resources
Review the SBA loan programs for common financing paths, and use SCORE mentoring network to find a mentor with acquisition experience.
