Should You Buy or Build A Business #1848

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 5 September 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

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. Get ad-free listening plus exclusive content with Marketing School Pro. Try for free at www.marketingschool.io/pro Links Mentioned in Today’s Episode: HBR Guide To Buying A Small Business Start With Why Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.8	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:17.8	All right guys, before we start, we got a special message from our sponsor.
0:24.1	If you want to rank higher on Google, you got to look at your paid speed time.
0:28.6	The faster your website loads, the better off you are.
0:31.4	With Google's Corvital update, that makes it super, super important to optimize your
0:35.5	site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use DreamHouse.
0:42.2	So just go to DreamHouse or Google it, find it, check it out, and it's a great way to
0:47.1	improve your low time.
0:48.6	Today, we are going to talk about whether you should buy or build a business.
0:55.4	So Eric and I have done both.
0:57.6	What I would say is I personally prefer building over buying, but if you're good at marketing,
1:04.2	you can find the right opportunity, then by all means buy and grow.
1:08.9	I think it actually is easier to buy and then grow than is to start from scratch, but
1:15.0	I don't know what it is for me.
1:16.6	For some reason, I really do love the building part.
1:19.0	Yeah, I would say my opinion is I think it's better to build first so you understand
1:23.8	how to operate.
1:24.8	Because if you start to buy a bunch of things and you don't understand how to operate,
	...

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