Why You Should Buy a Business (and How to Do It)

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 16 February 2017

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Richard S. Ruback and Royce Yudkoff, professors at Harvard Business School, spell out an overlooked career path: buying a business and running it as CEO. Purchasing a small company lets you become your own boss and reap financial rewards without the risks of founding a start-up. Still, there are things you need to know. Ruback and Yudkoff are the authors of the “HBR Guide to Buying a Small Business.”

Transcript

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0:00.0	If you work with early career professionals, my colleagues at
0:03.8	HPR have a great new podcast for you. It's called New Here. Think of it like the
0:08.4	Young Professional's Guide to Building a Meaningful Career on your own terms.
0:11.9	Share New Here with the Young Professionals in your life. a meaningful career on your own terms.
0:12.8	Share new here with the young professionals in your life.
0:15.9	Listen for free wherever you got your podcasts.
0:18.6	Just search new here. Welcome to the HBO Idea Cast from Harvard Business Review. I'm Sarah Green Carmichael. There you are in your downtown
0:36.1	office tower as the sun goes down. It's where you've worked countless hours and late nights, and
0:41.4	from your window you can see other offices with the lights on across the street,
0:45.2	other people burning a candle at both ends for the corporation just like you.
0:49.3	Not everyone with a deserving resume ends up on the executive team and not everyone can be the
0:54.7	CEO except maybe you think to yourself a little dreamily for those kids dropping
1:00.6	out of college starting startups and running their own companies with big
1:03.8	valuations changing the world.
1:06.6	But entrepreneurship, that's a big risk for you at this stage in your career.
1:10.8	If only there were a third way. If only there were a way to be in charge, be the
1:15.0	leader you know you are, get more value out of your experience, but do so without
1:19.6	the roller coaster ride of a high-growth startup that's more likely to fail than not.
1:24.6	Well there is another way, an open path rarely taken that is laid out in a new book, The
1:29.4	HBR Guide to buying a small business.
1:31.7	The authors are Rick Rubach and Royce Yagkov. They're here
1:35.0	with me now to talk about it. Rick and Rice, thank you guys so much for coming on the
	...

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