Starting a Business from Scratch or Buying a Business?
Street Smart Success Podcast: August 12th, 2020
For those of you thinking of owning your own business, here’s a question… are you going to start a business from scratch, or are you going to buy an existing business?
Today’s guest will tell you hands down you’re better off buying a business. That’s because only 10% of startups succeed, and out of those, only 4% ever get beyond one million dollars in annual revenue. These are not great odds. My guest, Walker Deibel of Quiet Light brokerage, started four businesses on his own. Then he bought seven businesses in 10 years with several successful exists. Walker clearly has experience doing it both ways, so he has an incredibly valuable perspective.
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