In episode #1848, we share our thoughts on whether it is best to buy or build a business. While buying businesses is typically easier to do, this is only true if you know how to run one, which requires building one. That being said, building businesses is very risky! Tune in to hear how to work out which one to do first.
TIME-STAMPED SHOW NOTES:
- [00:25] Today’s topic: Should You Buy Or Build A Business?
- [00:25] It is easier to buy but Neil prefers building.
- [00:50] Learning how businesses work by building before buying.
- [01:25] What Eric learned about building through buying Single Grain.
- [02:07] The elements that make building a business risky.
- [02:58] Looking at your strengths and playing to those.
- [03:06] Knowing if the M&A game is your long-term strategy.
- [05:09] That’s it for today!
- [05:10] Go to marketingschool.io/live to learn more about our upcoming live event.
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Links Mentioned in Today’s Episode:
HBR Guide To Buying A Small Business
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