Buying a business involves many skill sets that might be new to us or that we are doing for the first time.
From searching for a business, sales & negotiation, doing due diligence, to operations & strategic planning, plus leadership & management.
This reading list below compiles some of my top recommendations plus the most recommended books to me from other business buyers.
I would love to see more books related to buying a business in Australia. If you read any good ones, let me know here and I will add them to the list:
The HBR Guide to Buying a Small Business
By Richard S. Ruback and Royce Yudkoff
Thinking of buying a business? This book is your go-to guide. It demystifies the process, focusing on the practical aspects of acquiring and running a small business. Ideal for those transitioning from employment to entrepreneurship, it's like having a personal coach for navigating the business buying journey.
Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game
By Walker Deibel
Walker Deibel's "Buy Then Build" is a game-changer for anyone looking to buy rather than start a business. It's a practical roadmap, offering less risky, yet dynamic entry into entrepreneurship. This book is a beacon for those seeking established business paths over the uncertain seas of startups.
Never Split the Difference: Negotiating As If Your Life Depended On It
By Chris Voss
In "Never Split the Difference," Chris Voss, a former FBI negotiator, unlocks the psychology of negotiation. His field-tested tactics, drawn from high-stakes scenarios, are invaluable for anyone in business facing tough negotiations. Voss shows that understanding emotions and psychology, not just logic and arguments, can significantly influence outcomes in business discussions.
Traction: Get a Grip on Your Business
By Gino Wickman
Gino Wickman's "Traction" is crucial for leaders aiming to streamline their business operations. It introduces the EOS model, a practical system for enhancing company vision, team dynamics, and overall traction. Ideal for those in decision-making roles, it turns strategic visions into tangible outcomes, making it an essential guide for effective business management.
Built to Sell: Creating a Business That Can Thrive Without You
By John Warrillow
"Built to Sell" by John Warrillow is ideal for entrepreneurs who aim to create a business that succeeds independently. The book outlines practical steps to transform a business into a self-sustaining entity. It's especially useful for those planning to scale or sell their business, teaching how to reduce dependency on the owner and increase value.
The E Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
By Michael Gerber
Michael Gerber's "The E-Myth Revisited" is essential for anyone running a business. It teaches the balance of roles - entrepreneur, manager, technician - and the importance of working on your business, not just in it. A great guide for creating a business that's independent of its owner
The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers
By Ben Horowitz
Ben Horowitz's "The Hard Thing About Hard Things" is a must-read for CEOs and business leaders. It offers unvarnished insights into the complexities of leading a startup. This book is a practical guide for navigating the toughest business challenges, filled with personal anecdotes and real-world wisdom, making it a valuable resource for leaders facing the relentless pressures of the business world.
Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire
By Dan Martell
Dan Martell's "Buy Back Your Time" stands out as a practical manual for entrepreneurs. It focuses on effective time management to scale businesses and maintain personal well-being. This book is particularly useful for those wanting to enhance their productivity and achieve a balanced lifestyle, providing actionable steps to manage work commitments while fostering personal growth and freedom.
$100M Offers: How To Make Offers So Good People Feel Stupid Saying No
By Alex Hormozi
Alex Hormozi's "100M Offers" is a standout guide for creating compelling business offers. It’s an insightful read for entrepreneurs who want to learn how to develop offers that dominate the market. The book breaks down the art of pricing and crafting offers that provide immense value, making it a practical tool for those looking to enhance their marketing and sales strategies.
Now that you have your reading list sorted for the next few months.
You can put what you learn into action by finding your perfect business to buy here.