'This book is fun to read, exciting to apply, and profitable to implement.' John Kay, economist
Buying an established company – rather than creating a start-up from scratch – is an increasingly popular path to success for many entrepreneurs. So what's stopping you?
Let's face it – starting a business is stressful, time-consuming and often ends in failure. Buying into an existing business (known as Entrepreneurship through acquisition or ETA) is becoming a popular alternative, and it's not surprising. An existing business already has customers, suppliers and staff; from day one, you can make a positive impact on the company and the people you are working with, rather than risking everything on a new venture.
Whether you are an MBA graduate, a successful corporate manager looking to strike out on your own, or someone who would rather run a business than work for one, Buy, Run, Build is your go-to guide on how to do ETA yourself, and contains all the tools you'll need to embark on this new chapter of your life.
Buy, Run, Build is rooted in real-life business experience and Charles Skinner's own insights as an industry specialist. With over 30 years' experience of running listed companies and acquiring tiny companies and turning them into national champions, Charles shares the secrets of his successes – and the invaluable lessons he's learnt from his failures – and guides you through the dos and don'ts of ETA:
· Finding and valuing companies;
· Funding acquisitions and negotiating deals;
· Managing acquired businesses and running fast-growing businesses, and;
· Most importantly – what to do when things go wrong.
So if you want to run a company, what are you waiting for?
A detailed examination of how entrepreneurs can often have more success - financial and operational - with buying an established, growing company, rather than creating a start-up from nothing.
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A detailed examination of how entrepreneurs can often have more success - financial and operational - with buying an established, growing company, rather than creating a start-up from nothing.
Introduction why buying up is better than starting up
1. What do you really want to do?
2. Checking out a business
3. Buying and selling a business
4. The money
5. Being the CEO
6. Dealing with the board
7. The business of management
8. People and pay
9. The tough side of people management
10. What to do when it all goes wrong
Charles Skinner is an industry specialist in ETA. As CEO, he took one company worth £3m and built it into a business which sold for £100m. With another company he ran, the share price went up 40-fold and the business is now worth £300m and was AIM company of the year. Charles is an adviser to an ETA search fund, Mentmore Associates, and he currently chairs five private companies. In addition to this, Charles was editor of the magazine, Management Today.
