Buy Then Build (Entrepreneurship Through Acquisition)

Also known as: ETA · Acquisition Entrepreneurship

Acquire an existing profitable company and grow it, instead of starting from zero.

Makes the case for entrepreneurship through acquisition — buying an established business and applying entrepreneurial growth — and walks through sourcing, evaluating, financing, and transitioning a deal. Useful from both the acquirer's and the seller's side of a transition.

Core concepts

Acquisition over StartupDeal Sourcing & DiligenceSeller's Discretionary EarningsPost-Close Growth

Best when

You'd grow faster by buying than building
Understanding how an acquirer will value and view your company

Watch-outs

Lower-middle-market focus; large deals differ