485: HBS Professors and 'Think Big, Buy Small' Hosts Richard Ruback and Royce Yudkoff on Entrepreneurship Through Acquisition

485: HBS Professors and 'Think Big, Buy Small' Hosts Richard Ruback and Royce Yudkoff on Entrepreneurship Through Acquisition

Welcome to Strategy Skills episode 485, featuring an interview with Richard Ruback and Royce Yudkoff, HBS professors and the hosts of 'Think Big, Buy Small' podcast.

In this episode, we discuss current market trends related to entrepreneurship through acquisition. We also touch on the demographic trend of baby boomers retiring and needing to sell their businesses, and its impact on buying and selling businesses. Most importantly, Richard and Royce share their advice on how to find the right business to buy, the key considerations and how to evaluate businesses, common buyer errors, and the challenges of buying from baby boomers.

Think Big, Buy Small is a new podcast from Harvard Business School that explores this innovative approach to entrepreneurship: acquisition entrepreneurship. The show is an extension of their courses on small firms, including “Entrepreneurship Through Acquisition,” which has been taken by thousands of MBA students, and their highly-regarded book, HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company, which has sold more than 65,000 copies.

Richard S. Ruback is a Baker Foundation Professor and the Willard Prescott Smith Professor of Corporate Finance, Emeritus at the Harvard Business School. Over the last 15 years, he and Royce Yudkoff have been developing and teaching a second year course titled “The Financial Management of Smaller Firms” and a field course called “Entrepreneurship Through Acquisition”. Ruback and Yudkoff’s book, HBR Guide to Buying a Small Business was published by Harvard Business Review Press in 2017. The book is a practical roadmap through the steps required to find, evaluate, negotiate, and finance the acquisition of a smaller firm.

Ruback earned his Ph.D. in business administration at the University of Rochester in 1980 and taught at MIT's Sloan School before joining the HBS faculty as a visiting professor in 1987. He was appointed associate professor in 1988 and full professor in 1989. Ruback has served as an editor for the Journal of Financial Economics and is the author of numerous articles on corporate finance and valuation.

Royce Yudkoff is the MBA Class of 1975 Professor of Management Practice of Entrepreneurial Management at the Harvard Business School and a General Partner and co-founder of ABRY Partners, LLC in Boston, MA. Alongside Professor Richard Ruback, Royce currently co-teaches a second year case course titled “The Financial Management of Smaller Firms” and a field course called “Entrepreneurship through Acquisition”. These courses focus on how to acquire, finance, and operate your own smaller firm.

As was mentioned above, Ruback and Yudkoff’s book, HBR Guide to Buying a Small Business, was published by Harvard Business Review Press in 2017. The book is a practical roadmap through the steps required to find, evaluate, negotiate, and finance the acquisition of a smaller firm.

In 1989, Royce co-founded ABRY Partners, a private equity firm focused on the media, communications and business and information services markets. Since 1989 the firm has completed over $27 billion of leveraged transactions and other private equity investments involving approximately 450 properties. Over this period Royce has also served on numerous private and public corporate boards.

Royce graduated from the Harvard Business School in 1980 as a Baker Scholar and is an honors graduate of Dartmouth College.

Get a copy of HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company: https://rb.gy/2omnrh

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179: How to write a book even if you're "too junior" - Author Program Q&A 6

179: How to write a book even if you're "too junior" - Author Program Q&A 6

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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178: Should I wait to publish a solo book? Author Program Q&A 5

178: Should I wait to publish a solo book? Author Program Q&A 5

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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177: Matt Blumberg, How to build a successful startup

177: Matt Blumberg, How to build a successful startup

Welcome to Strategy Skills episode 177, an episode with the CEO and Co-Founder of Bolster, Matt Blumberg together with his Co-Founder Jack Sinclair. Get Matt's book here: https://amzn.to/3oqmBsv Matt Blumberg is a technology entrepreneur. He spent his entire career creating startups, scaling them, and sharing best practices of what works and what doesn't work for other CEOs and team members in the entrepreneurial community. His innovative email marketing company, Return Path, grew to $100mm in revenues and helped it to a successful exit in a strategic sale to Validity in 2019. Blumberg's company Bolster, an on-demand executive talent marketplace, helps accelerate companies' growth by connecting them with experienced, highly-vetted executives for various roles. It recently conducted a study on Independent Board Members and Board Diversity, which revealed that most early-stage startup boards lack racial and gender diversity as much as boards of more established startups. In this episode, Matt and Jack talked about what is really needed to build a successful startup and maintain a good business to prepare it for scaling up. For those who are thinking of venturing into the world of entrepreneurship and planning to start a company/business, this is for you. STARTUP CXO: A Field Guide to Scaling Up Your Company's Critical Functions and Teams. Matt Blumberg: https://amzn.to/3oqmBsv Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

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176: Kayvan Kian, Step back to move forward

176: Kayvan Kian, Step back to move forward

Welcome to Strategy Skills episode 176, an episode with a Senior Advisor to McKinsey & Company (Amsterdam), Kayvan Kian. Get Kayvan's book here: https://amzn.to/3kntLLF Kayvan Kian is the founder of the Young Leaders Forum, a program that helps high potential future leaders with the necessary skills, ways of thinking, and insights to become better leaders in a world of constant change. He also has given guest lectures at Harvard Business School, HEC, Sciences Po, and other leading institutions. He believes that we can make this world a better place by sharing hard-fought lessons with each other, that we gained through the most challenging times in our lives. In this episode, Kayvan talked about how to move forward by taking a step back and identifying the things we can control. For those leaders who feel stuck, this is for you. WHAT IS WATER?: How Young Leaders Can Thrive in an Uncertain World. Kayvan Kian: https://amzn.to/3kntLLF Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

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175: David Bradford, What makes a good leader in 2021

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Welcome to Strategy Skills episode 175, an episode with the Eugene O'Kelly II Senior Lecturer Emeritus in Leadership at Stanford Graduate School of Business, David Bradford. Get David's new book here: https://amzn.to/3lAmUhi David Bradford is one of the two researchers behind Stanford's most popular class: Interpersonal Dynamics, where students and leaders learn how to greatly improve personal and professional relationships. He has produced six books, numerous articles, three training programs, and a massive open online course on leadership, team performance, and the influence process. He has worked with and helped some of the biggest companies in the world including Hewlett-Packard, Cisco Systems, IBM, Levi Strauss, Raychem, etc. He is currently a member of the Editorial Boards of the Academy of Management Learning & Education, the Journal of Applied  Behavioral Science, and the Journal of Management Education. In this episode, David talked about how leaders can shift their way of thinking and have a better approach to managing their organizations. For those leaders who want to learn how to solve their companies' biggest problems, this is for you. CONNECT: Building Exceptional Relationships with Family, Friends, and Colleagues. David Bradford & Carole Robin: https://amzn.to/3lAmUhi Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

27 Syys 202150min

174: Is it expensive? Author Program Q&A 4

174: Is it expensive? Author Program Q&A 4

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

22 Syys 202112min

173: What is the ROI? Author Program Q&A 3

173: What is the ROI? Author Program Q&A 3

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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172: Charlene Li, Grow your business via disruption

172: Charlene Li, Grow your business via disruption

Welcome to Strategy Skills episode 172, an episode with a sought-after public speaker and an influential thought-leader, Charlene Li. Get Charlene's new book here: https://amzn.to/2XhSdFv Charlene Li is a guide on digital transformation, leadership, customer experience, and the future of work. Her career is focused on helping people see the future and thrive with disruption. She is currently a Senior Fellow at Altimeter, a Prophet company. In this episode, Charlene talked about how disruption serves as a key element in order for a company to determine their future and set their path to growth. For those who wants to learn more on how to advance through the future, this is for you. THE DISRUPTION MINDSET: Why Some Organizations Transform While Others Fail. Charlene Li: https://amzn.to/2XhSdFv Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

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