ETA Books

November 21, 2024

by a searcher from Lucerne University of Applied Sciences and Arts in Switzerland

I was wondering if anyone else has pre-ordered or plans to read Main Street Millionaire How to Make Extraordinary Wealth Buying Ordinary Businesses Book by Codie Sanchez?

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Reply by an investor
from Stanford University in Dallas, TX, USA

If you’re exploring Entrepreneurship Through Acquisition (ETA) and looking for books to deepen your knowledge, below are some highly recommended reads. That said, I think reading the core ETA books combined with the academic papers and passively consuming the other content is more than enough to get started. The sooner you can actually start working on your search the better! Core ETA Books 1. “HBR Guide to Buying a Small Business” by Richard S. Ruback and Royce Yudkoff This book is considered a must-read for anyone in the ETA space. Written by two Harvard Business School professors, it walks you through the entire process of searching for, acquiring, and running a small business. It’s particularly focused on search funds and self-funded acquisitions. 2. “Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game” by Walker Deibel This is a practical guide that positions buying a business as a smart alternative to starting one from scratch. It’s great for anyone looking to understand the nuances of acquisition entrepreneurship and how to scale a business post-purchase. Books on the Acquisition Process 3. “The Art of Buying a Business” by Richard Parker This book provides straightforward advice and strategies for navigating the business-buying process. It’s ideal for first-time buyers looking for a clear roadmap. 4. “The Private Equity Playbook” by Adam Coffey While primarily aimed at private equity professionals, this book offers a lot of value for acquisition entrepreneurs, particularly around value creation and post-acquisition management. 5. “The Messy Marketplace” by Brent Beshore Although focused on selling businesses, this book gives you insight into how sellers think, what motivates them, and how to approach acquisitions with this perspective in mind. Books on Running and Scaling Acquired Businesses 6. “Traction: Get a Grip on Your Business” by Gino Wickman If you’re looking for tools to effectively manage and grow a small business, this book is invaluable. It introduces the Entrepreneurial Operating System (EOS), a framework used by many successful operators. 7. “Built to Sell: Creating a Business That Can Thrive Without You” by John Warrillow This is an essential read if you want to understand what makes a business attractive to buyers. It’s also useful for building value in an acquired business. 8. “The E-Myth Revisited” by Michael E. Gerber This classic book focuses on building systems and processes to make small businesses more efficient and scalable—critical for any acquisition entrepreneur. Additional Resources ***Most important: the Stanford search fund study • Case Studies: Harvard Business School and Stanford both publish case studies on ETA that are worth exploring. • Podcasts: • Acquiring Minds: Real-world stories from acquisition entrepreneurs. • Think Like an Owner: Features interviews with search fund operators and small business owners.

Reply by a searcher
from Babson College in Guatemala

I think you will be better reading other books instead. The comments above share a lot of books that I would recommend. Specially the Buy Then Build and HBR Guide to Buying a Small Business. Podcasts such as Acquiring Minds, Think Like an Owner and Think Big Buy Small are great resources.
There's a podcast called Cracks by Oso Trava (It's in Spanish), but he did an interview with German Canale who did a Traditional Search in Mexico and bought an Ice Manufacturing and Distribution Company. Great listen.
Would also recommend the book The Outsiders by William Thorndike. Great read on capital allocation.

With all that said, I'm looking into reading Codie's book, just to broaden my perspective. Although I find her a little too mainstream.

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