- Paperback: 254 pages
- Publisher: Morgan James Publishing (April 24, 2018)
- Language: English
- ISBN-10: 1683506499
- ISBN-13: 978-1683506492
- Product Dimensions: 6 x 0.8 x 9.2 inches
- Shipping Weight: 12.5 ounces (View shipping rates and policies)
- Average Customer Review: 98 customer reviews
- Amazon Best Sellers Rank: #264,448 in Books (See Top 100 in Books)
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The Lifestyle Business Owner: How to Buy a Business, Grow Your Profits, and Make It Run Without You Paperback – April 24, 2018
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About the Author
Aaron Muller is the founder of Lifestyle Business Owner Academy and a serial entrepreneur who currently owns eight multimillion-dollar companies that run without him. He is a #1 international bestselling author and the world’s leading trainer on owning a small business that runs without the owner.
Having never gone to college, Aaron learned everything in the school of hard knocks. After owning or co-owning more than twenty companies in the Pacific Northwest, Aaron has probably dealt with every problem a small business owner can face―from employee headaches, lack of profits, and lack of time to lack of enjoyment and lack of contribution. He founded Lifestyle Business Owner Academy and wrote The Lifestyle Business Owner to teach emerging entrepreneurs how to own a small business that generates a six-figure income, runs without the owner, and creates social good through the operations of the business.
Over the last fifteen years, Aaron has mentored thousands of small business owners as a business broker, consultant, and coach. Through his seminars, videos, and online courses, Aaron inspires a new wave of entrepreneurs to become lifestyle business owners.
Meet Aaron and receive free training at www.LBOAcademy.com
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I have worked for 20 years at a small business and seen pretty much every side of that business. I also work at a university with an entrepreneurial major that is incredibly popular. I can certainly see the appeal of owning your own business.
Generally my rule in dealing with almost anything is if it sounds too good to be true then it probably is. This book promises to teach you how to buy a business, put a year into it building it up, and then withdraw to work 5-10 hours per week while making $100,000 or more per year.
To me it really sounds too good to be true.
As I said I do work for a university so I am a big proponent of higher education. The author proudly states several times that he took no classes beyond high school which does not necessarily fill me with confidence. I would also say that the author, who is a business broker, strongly pushes the idea that anyone buying a business needs a broker. In fact that is the very first thing the author suggests in the chapter about additional resources. My other criticism is that it does seem to contradict itself in a few places, such as the suggestion that you must be deeply invested and interested in the business and also more than willing to give it up if it is not profitable.
That said I don’t think it would hurt anyone that is considering investing in a business to read this book. There is a wealth of advice in this book, especially in looking at financials and choosing the correct business. Since I’m not an expert I’m not qualified to tell you how useful this information is, but at a glance it seemed useful to me.
Since they offer the promise of working only five hours per week as a business owner the book also gives advice on hiring a manager to handle the day-to-day work after a year or more building the business.
So if you have large amount of money to invest (something else the author strongly encourages) and are looking to buy a business I think this book could have some good advice for you. I’m a little skeptical that it will have you working ten hours per week and making $200,000/year.
However, if that doesn't sound sane to you, then I'll ground it back to a “review” by saying that this book is an informative read about how to become a Lifestyle Business Owner (LBO). As such, it takes you by the hand from the beginnings of even if being a LBO is right for you to the “end” of how to manage your running business.
The whole concept of was extremely interesting and though it sounds like commonsense it was really good to see it all together spelled out in black and white. I really liked how the book was structured and one topic naturally flowed to the other in a completely related and logical manner. Ever step is mapped out and explained well.
That said, and as much as it does have a business connotation to it. I was pleasantly surprised by how much of the “business advice” can be just “life advice”. For example, in the chapter about how LBO's think, there's a principle called systemized assumption questioning which in essence, is to not make assumptions. You'd think that's just commonsense, but the way it's put was eye opening, at least to me. It had me reflecting on what an assumption is and how very true to life it is to always question whether in *any situation* one is being applied or not and why.
This book also surprised me with how it went above and beyond and addressed some common fears, misconceptions and myths. It clearly knocks down any 'if's or but's' you might have put in your own way if becoming a LBO is what you want to do.
Overall I found the book to be very informative and well written out. At every turn the topics are well explained and exemplified, leaving little room for doubt. Though I myself don't have any desire to buy a business it's so well written, to my own shock I found I was almost on the verge of signing up to getting on the LBO train.
I would recommend this book to anyone who has ever thought about becoming an entrepreneur or at least some curiosity on the subject matter. However, bear in mind that this isn't a blueprint to success, it's just the foundation, or an example, if you will. The author himself says so in his “note to readers” at the very beginning of the book. As long as you keep in mind that this book doesn't guarantee your success if you follow it, then I definitely think it's a great informative read, as long as you're interested in the LBO, otherwise it will likely be boring. Life lessons and all.