Walker Deibel – Buy Then Build Masterclass

Walker Deibel – Buy Then Build Masterclass

Master Acquisition Entrepreneurship & build profitable businesses with less stress, less risk than the start-up game!

Take the Fast Track to Business Ownership: as an Acquisition Entrepreneur

Let me guess – you’re here because you want to own your own business. Maybe you’ve tried the start-up approach. Maybe you didn’t even get that far because you couldn’t come up with the
“Next Big Idea.”

The Buy Then Build model will teach you how to approach ownership in the smartest possible way

This is the same strategy I’ve used to acquire 7 businesses and 10x my income – all in the same amount of time it took my first startup to start, grow, and die.

I created this Masterclass to help aspiring Acquisition Entrepreneurs execute the Buy Then Build approach. Consider this the next step in your journey.

We created this Masterclass to support…

Your First Venture

Learn how to acquire a business with all the infrastructure already rocking so YOU can jump into the fun stuff and start scaling.

Experienced Entrepreneurs

Use your existing resources & skillsets to generate exponential business growth on repeat.

Business Moguls

Make moves to acquire entire channels of distribution, expand your product lines, and absorb whole databases of customers.

Here’s everything we’ll cover…

hModule 1: Introduction to Acquisition Entrepreneurship

In this module, you will learn the foundations of acquisition entrepreneurship (AE) as a strategy.

Lessons include:

• AE Framework from an Entrepreneur Perspective
• The Two Different Journeys for an Entrepreneur
• Guest Speaker: The Power of Trying Crazy Things to Fix Perfect Problems with Jim McKelvey
• Bonus Content: The 5 Myths of Entrepreneurship
• Benefits of AE as an Entrepreneur
• Guest Speaker: The Story of a Textbook Acquisition Entrepreneur, Dan Peskorse
• AE Framework from an Investor Perspective
• Gazelles vs. Venture Capital
• Bonus Content: Alternative Retirement Strategies
• Return on Investment
• Upside Potential
• Margin of Safety
• Supplemental Reading: Upside Potential Walk Through
• Accelerated Route to Value Creation
• Skill Builder: Return on Investment
• Bonus Lecture: The 4 Pathways of Entrepreneurship Through Acquisition
• Knowledge Check

gModule 2: Getting Started With Acquisition Entrepreneurship

In this module, you’ll take the most important primary step filled with self-reflection that most buyers don’t take – determining who you are as a buyer.

Lessons include:

• The Most Important Thing
• Personal Impact
• Attitude
• Bonus Content: Will you actually buy? The secret sauce to execution
• Skill Builder: Understanding Growth Mindset
• Aptitude
• Bonus Content: Leveraging Career Capital
• Skill Builder: The Power of Your Story
• Supplemental Reading: PERMA Model
• Expert Interview: What Makes a Successful Acquisition Entreprenuer, Dr. David Weller
• Skill Builder: Personal Strengths and Weaknesses
• Action
• Bonus Content: Determining Your Search Strategy
• Supplemental Reading: Level of Individual Involvement
• Skill Builder: Determining the most appropriate level of involvement
• Skill Builder: Entrepreneurial Self-Assessment Survey
• Skill Builder: Personal Goals
• Skill Builder: Three A’s

gModule 3: Profiling Your Perfect Company

In this module, you’ll gain clarity to your search as it relates to developing a unique target statement specific to your personal buyer brand.

Lessons include:

• Bonus Content: Glimpse Into the Acquisition Lab – The Good, Bad, and Ugly of Buying a Business
• Profiling Your Business: Eternally Profitable, Turnaround, Platform, & High Growth
• Skill Practice: Identifying Opportunity Profiles
• Resource: AE Matrix Reference Guide
• Bonus Content: The Biggest Mistake I Made While Acquiring $16.5mm in revenue
• Defining the Size of Your Business
• Bonus Content: How Post-Close Liquidity Determines How Much You can Afford
• Resource: What Can You Afford Calculator
• Resource: Deal Size Reference Guide
• Defining the Right Amount of Leverage
• Skill Practice: Determining Net Worth
• Defining Industry Type
• Supplemental Reading: Evaluating B2B vs. B2C/DTC
• Supplemental Reading: Industry Overviews
• Formulating Your Target Statement
• Skill Practice: Industry Reaction Worksheet
• Skill Builder: Target Statement Worksheet

gModule 4: The Search

In this module, you’ll learn the various approaches to use to identify deals and build a transaction team.

Lessons include:

• Bonus Content: Glimpse into the Acquisition Lab – How to Compete as a First Time Buyer
• Get Upstream
• Broker Outreach
• Bonus Content: Two Biggest Mistakes From Worst Buyer Ever
• Supplemental Reading: Tips for Nailing Broker Outreach
• Meeting with Brokers
• Every Business is for Sale
• Supplemental Reading: Managing Emotions to Reinforce Your Brand
• Skill Practice: Understanding Seller Motivations
• Guest Speaker: Leaving the Search Fund Model and Buying on Her Own, Monica Weaver
• Banker Outreach
• Debt Vehicles
• Bonus Content: Is a personal guarantee required?
• Supplemental Reading: Financing a Deal
• Expert Interview: Undertanding SBA Financing with Stephen Speer
• Supplemental Reading: Insight into the SBA Financing Process
• Partners, CPAs, & Lawyers
• Bonus Content: The Difference Your Team Makes on Your Acquisition
• Fundamentals
• Guest Speaker: How Ryan Begelman Built and Sold a $50mm Company
• Resource: SBA Personal Financial Statement

gModule 5: Evaluation and Analysis

In this module, you’ll learn the frameworks to use to evaluate a business and begin analyzing it’s performance.

Lessons include:

• Offering Memorandums & Accounting Methods
• Skill Practice: Evaluating Accrual vs. Cash Accounting
• Balance Sheets
• Income Statements
• Cashflow Statements & Critical Factors
• Supplemental Reading: Forecasting & Stress Testing
• Asset-Based Valuation
• Cash Flow-Based Valuation
• Bonus Content: Is it a fair multiple?
• Bonus Content: Shift Your Focus
• SDE Analysis and Value vs. Asking Price
• Bonus Content: Measuring Business Earnings
• Bonus Content: Calculating Add Backs as a Broker
• Business Strategy
• Porter’s Five Forces and Lifecycle of an Industry
• Supplemental Reading: Porters Five Forces
• Bonus Content: Five Forces of Power
• Skill Practice: Applying Porter’s Five Forces
• Additional Frameworks
• Bonus Content: Evaluating the True Level of Risk of Your Acquisition
• Market Research and Market Strategy
• Knowledge Check

gModule 6: The Seller

In this module, you’ll gain insight into the seller’s perspective and what to expect as you begin to interact with sellers.

Lessons include:

• The Seller’s Story
• Bonus Content: The Journey of Deciding to Sell
• Meeting the Seller
• Negotiating Strategies
• Discussion Strategies
• Visit the Business
• Knowledge Check

gModule 7: Part One: Acquisition Phase

In this module, you learn the process of extending your first Letter of Intent (LOI) and how to move forward.

Lessons include:

• Stop and Review
• Expert Interview: Navigating the Legal Side of a Transaction, Joel Ankney, author of Here’s the Deal
• Letter of Intent
• Resource: Letter of Intent Sample
• Supplemental Reading: Critical First Steps after Signing LOI
• Supplemental Reading: Explanation of Related Documents
• Bonus Content: When to use an IOI (Indication of Interest)
• Deal Type & Purchase Considerations
• Bonus Content: Asset Sale vs. Stock Sale
• Bonus Content: Importance of Working Capital
• Deal Structure and Closing Date
• Bonus Content: Structuring Your First Offer
• Bonus Content: Navigating Customer Concentration
• Supplemental Reading: Key Considerations When Structuring Your Offer
• Contigencies and Agreement on Agreement
• Resource: Asset Purchase Agreement Sample
• Pre-Negotiations and Seller Response
• Bonus Content: Why Deals Fall Apart
• Managing the Acquisition Phase

gModule 7: Part Two: Conducting Due Diligence

In this module, you’ll learn how to manage the transaction post-LOI starting with due diligence.

Lessons include:

• Due Diligence
• Supplemental Reading: Common Red Flags
• Supplemental Reading: Legal Due Diligence
• Supplemental Reading: Financial Due Diligence
• Guest Lecture: Financial Due Diligence, Bill Wiersema, Miller Cooper
• Optional Reading: Financial Due Diligence in Acquisitions by Bill Wiersema
• Supplemental Reading: Operational Due Diligence
• Resource: Due Diligence Checklist
• Expert Interview: Conducting Due Diligence with Elliott Holland
• Exploiting Opportunities and Closing Deals
• Knowledge Check

gModule 8: Then Build

In this module, you’ll get a glimpse into the closing of your deal and how best to manage it in the first 100 days.

Lessons include:

• Closing Expectations
• Closing Process
• First 90 Days
• Supplemental Reading: Communication Planning
• Supplemental Reading: Role of Communication in Retaining Key Talent
• Supplemental Reading: Role of Change Management in Employee Retention
• Supplemental Reading: Role of Engaging Employees in Retention
• Resource: Message Mapping
• Day 1, First 30 days
• Days 60 – 90
• Bonus Content: Hiring a Manager to Operate Your Acquisition
• Growth through Acquisition
• Guest Speaker: The Ultimate Success Story: How Charles Bracken Grew His First Acquisition to Over $100M in Revenue and Exited
• Bonus Lecture: Growing Your Business Through Acquisition
• Bonus Content: Learning More about Growth Through Acquisition
• Acquisition in the Entrepreneurship Economy
• Guest Speaker: Building Value in Your Business, Brian Jones
• Guest Speaker: Ensuring Transferability of Your Business, Richard Mowery
• Bonus Content: The Business Buyer Playbook
• Knowledge Check

gGlossary: Key Metrics for Financial Analysis

This module was created to allow for easy navigation to the most commonly used financial analysis metrics.

• Cash Conversion Cycle
• Current Ratio
• Debt-to-Equity Ratio
• Growth Rate Analysis
• Profitability Analysis
• Vertical Analysis
• Horizontal Analysis

gGlossary: Key Concepts for Acquisition Entrepreneurs

This module was created to provide an easy searchable glossary of key terms for people new to Acquisition Entreprenuership who are trying to navigate new concepts.

• Financial Statements
• Cash Flow
• Cash Flow Statement
• Working Capital
• SDE & Add-Backs
• EBITDA vs. Adjusted EBITDA
• Margin of Safety
• ROI
• Accrual vs. Cash Accounting
• Balance Sheet
• Assets
• Depreciation
• Intellectual Property
• Goodwill
• Liabilities
• Amortization
• Owner’s Equity
• Income Statement
• Revenue or The Top-Line
• Earnings
• Seller Financing
• Leveraged Buy Out
• ROBS 401k Funding
• Assumption of Debt
• Indication of Interest (IOI) vs. Term Sheet vs. Letter of Intent (LOI)
• Asset Purchase Agreement (APA)
• Stock Purchase Agreement (SPA)
• Escrow Agreement
• Reps & Warranties
• Indemnification Clause
• Earn-Out
• Hold Back
• Stability Payment
• Consulting Agreements
• Forgivable Loan
• BATNA (Best Alternative to a Negotiated Agreement)

gSpecialized Resources for Online Buyers

This module is for anyone considering purchasing online businesses:

• Expert Interview: Acquiring Online Businesses with Shawn Hussain, eCommerce Law Group

gSpecialized Resources for Working with Investors

This module highlights how best to value your transaction if you’re working with investors

• Bonus Content: Valuing For Investors

Get instant access to the complete Masterclass bundle:

Core Masterclass Content:

• 8 Comprehensive modules of self-study curriculum
• 20+ Hours of Lecture
• 31 Bonus Content Videos
• 12 Guest Speakers/Expert Interviews
• 22 Supplemental Readings
• 15 Exercises to Further Your Journey
• 8 Downloadable Resources (e.g. Calculators, Reference Guides, Templates)
• 2 Searchable Glossaries
• Lifetime Access

BONUS COURSES covering over 15 additional hours of practical insight!

• Frequently Asked Questions Course
  This course includes over 70 questions and answers about all aspects of acquisition entrepreneurship especially SBA financing that have been asked by Acquisition Lab members during live sessions with lenders as well as Walker Deibel.
• Expert Interview Series
  Get access to 38 interviews with Acquisition Entrepreneurs discussing how they found their deals, mistakes they made, lessons learned, etc. as well as M&A Professionals sharing their insights and experiences.

Praise for the Buy Then Build Masterclass

This Masterclass is fantastic!

The core instruction is great as well as the bonus content but the supplemental reading really dials into things even more which is even better than expected. If you get access to the FAQ Series, it really cuts down the time and improves efficiency when looking for a direct answer.”

Paul GoldenCEO, Rayvisin Enterprise

This masterclass is an excellent companion to the Buy Then Build book…

whether you have already read it or not. It hit all the key concepts and along the way it dove into more detail by working in relevant interviews with successful acquisition entrepreneurs or professionals that you may want on your team for your own acquisition.

You also get to hear some #nofilter advice from Walker that he has developed through his work as an entrepreneur, broker, and guide of the hundreds of entrepreneurs in the Acquisition Lab!

Phil MillerNew York Times Founder & President, Smith Evergreen Concrete

The Buy then Build Masterclass walks you through each step of the acquisition process…

…from knowing what to look for before you start the journey, to what to do in the first few months of ownership.

This course and the Buy then Build community is an excellent resource that has condensed what would’ve taken me years to learn and a lot of fees on professionals, to a clear 8-module course.

Tim WoodwardCo-owner, Woodward Cider Company

It’s rare to find a course this effective, both in the quality of lessons and usefulness of the content.

Previous to this course, I wasted a lot of time sifting through watered-down blogs and online articles that were written by people with very little actual experience in buying and selling a small business.

If I could have learned the exhaustive list of lessons from this course prior to acquiring my first company in 2019, I would have made more money, saved myself a lot of headaches, and wouldn’t have wasted as much time in both of my companies. Don’t waste your valuable time, take this course and really know how to be an effective Acquisition Entrepreneur!

John CoveyouFounder & CEO, Genius Games

This Masterclass is fantastic!

The core instruction is great as well as the bonus content but the supplemental reading really dials into things even more which is even better than expected. If you get access to the FAQ Series, it really cuts down the time and improves efficiency when looking for a direct answer.”

Paul GoldenCEO, Rayvisin Enterprise

This masterclass is an excellent companion to the Buy Then Build book…

whether you have already read it or not. It hit all the key concepts and along the way it dove into more detail by working in relevant interviews with successful acquisition entrepreneurs or professionals that you may want on your team for your own acquisition.

You also get to hear some #nofilter advice from Walker that he has developed through his work as an entrepreneur, broker, and guide of the hundreds of entrepreneurs in the Acquisition Lab!