DT #584 Think Big, Buy Small: Harvard Business School’s Blueprint for Business Ownership

Develop This: Economic and Community Development

Why start from scratch when you can buy your way to success? 🎙️

Harvard Business School’s Richard Ruback & Royce Yudkoff share their blueprint for entrepreneurship through acquisition, spotting high-value businesses, and raising capital.

🎧 Listen now: Think Big, Buy Small: Harvard’s Blueprint for Business Ownership

Harvard Business School professors Richard Ruback and Royce Yudkoff join Dennis Fraise to unpack their groundbreaking approach to entrepreneurship through acquisition. Learn how buying an established business can be a smarter, lower-risk path to ownership, the secrets to spotting high-value companies, and strategies for raising capital. Whether you’re an investor, entrepreneur, or future CEO, this episode offers a Harvard-backed blueprint for building wealth and leading with confidence.

HBR Guide to Buying a Small Business

Takeaways

• Entrepreneurship through acquisition offers a lower-risk alternative to startups.
• Successful entrepreneurs often seek professional independence and a direct link between effort and reward.
• Assessing fit is crucial; entrepreneurs should envision themselves in the role of CEO.
• Recurring revenue and high margins are key indicators of a quality business.
• Dull businesses can be highly profitable and manageable for entrepreneurs.
• Raising capital for acquisitions can come from various sources, including investors and SBA loans.
• The search process can be challenging, with many rejections before success.
• Understanding the market and industry is essential for finding the right business to acquire.
• Investors are increasingly interested in funding acquisition searches due to attractive returns.
• The upcoming season of 'Think Big, Buy Small' will explore diverse entrepreneurial journeys and niches.