The Economics of Buying Another Business Versus Building #1932

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 30 November 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1932, Neil and Eric talk about the economics of buying another business versus building. When you’re deciding whether or not to buy a business, the number one question you should ask yourself is whether you are buying a job. To learn more about what to look out for when pursuing acquisitions, tune in today! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: The Economics of Buying Another Business Versus Building. [00:50] Why buying a business doesn’t always need to be expensive. [01:14] Why each approach has its merits and drawbacks. [01:21] Why you shouldn’t buy a turnaround. [03:25] How to make the economics work out by buying with debt. [03:57] That’s it for today! [04:07] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or call us on 310-349-3785! Links Mentioned in Today’s Episode: Epic Challenge Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company (HBR Guide Series) Check out our blueprint on how to build your dream business: https://www.marketingschool.io/training Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro 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	And fast your website loads the better off you are with Google's Corvital update that
0:33.2	makes it super, super important to optimize your site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use dream host.
0:42.2	So just go to dream host or Google it, find it, check it out.
0:46.2	And it's a great way to improve your low time.
0:50.6	Today we are going to talk about the economics of buying another business versus building
0:55.0	one.
0:56.7	Yeah, sure.
0:57.3	So when you think about buying a business, whether it is another add on, so something that
1:04.2	you don't do to expand your business or something that does the same thing like Eric
1:07.7	bought more ad agency.
1:09.6	So you can combine it and create a bigger ad agency, there's no right or wrong approach.
1:14.8	It's expensive, but it could cause more growth and you can end up making one plus one
1:19.8	equal to and it doesn't always have to be expensive.
1:22.3	There's actually unique ways to structure deals.
1:24.3	So I'll take that back because I think Eric use a lot of this stuff from Roland Frazier's
	...

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