Royce Yudkoff's guest appearances

Royce Yudkoff

Invest Like the Best with Patrick O'Shaughnessy

Learn Educate Discover

Entrepreneurial Realities

Tyler Cowen

Josh Wolfe

Annie Duke

Michael Mauboussin

Marc Andreessen

Christopher Lochhead

Brian Koppelman

Kyle Samani

Tim Urban

Peter Attia

David Epstein

Jason Zweig

David Tisch

Bronwyn Varty

Kiley Adams

OwlTail

Richard Ruback

Richard Ruback and Royce Rudkoff, Professors at Harvard Business School and Authors of the book HBR Guide To Buying A Small Business, talk about how apart from going into a traditional job or starting your own company, there is now a third option to consider - buying a small business and running it like your own company.Some of the areas Richard and Royce touch upon in this episode include:1. Why buying a small business is a great option for those who want independence but perceive starting your company from scratch as too risky2. How to search for a small business to buy3. What the search process looks like4. The kind of businesses that you can buy - and how they typically yield between $500K - $2-4M in annual profits5. Recommended resourcesThank you for listening!!Follow the show on Twitter @LED_CuratorWebsite www.learneducatediscover.com/Like us on FaceBook at www.facebook.com/learneducatediscover/Email us at hello@learneducatediscover. We will reply!! Subscribe to the show on iTunes itunes.apple.com/us/podcast/learn…d1049159321?mt=2

Richard Ruback and Royce Rudkoff, Professors at Harvard Business School and Authors of the book HBR Guide To Buying A Small Business, talk about how apart from going into a traditional job or starting your own company, there is now a third option to consider - buying a small business and running it like your own company. Some of the areas Richard and Royce touch upon in this episode include: 1. Why buying a small business is a great option for those who want independence but perceive starting your company from scratch as too risky 2. How to search for a small business to buy 3. What the search process looks like 4. The kind of businesses that you can buy - and how they typically yield between $500K - $2-4M in annual profits 5. Recommended resources Thank you for listening!! Follow the show on Twitter @LED_Curator Website <a href="http://www.learneducatediscover.com/" rel="nofollow" target="_blank">www.learneducatediscover.com/</a> Like us on FaceBook at <a href="http://www.facebook.com/learneducatediscover/" rel="nofollow" target="_blank">www.facebook.com/learneducatediscover/</a> Email us at hello@learneducatediscover. We will reply!! Subscribe to the show on iTunes <a href="http://itunes.apple.com/us/podcast/learn…d1049159321?mt=2" rel="nofollow" target="_blank">itunes.apple.com/us/podcast/learn…d1049159321?mt=2</a>

Ep 89: Why You Should Buy A Small Business, Richard Ruback & Royce Yudkoff, Harvard Business School

Rick Ruback

In this episode, I continue to pull on one of the most interesting threads that I have uncovered while producing this podcast: the world of permanent equity. My guests today are Royce Yudkoff and Rick Ruback, two Harvard Business School professors who have partnered to create a popular class that teaches students how to search for, acquire, and run a small business directly after graduation. I approach this conversation from an investors standpoint. LP investors usually partner with these searchers to form what is called a search fund. A search fund allows recent MBA grads to spend time looking for a business and ultimately acquire it. The result is a small scale but often high return proposition for investors. I loved our discussion of what to look for in a business and what to avoid. The principles we list are useful for investors of any kind, and will particularly appeal to those from the buy and hold, value investing, and quality investing camps. One point of note which wasn’t captured during the recording. One of the reasons this style of investing isn’t more well known that it is extremely costly upfront. It can take years to find a company, and once found, the transaction costs can be 20% of the total purchase price. Rick calls this category “REALLY private equity. If you enjoy this conversation, be sure to check our Royce and Rick’s book. HBR Guide to Buying a Small Business, which goes into many of the topics we cover in even greater detail.   For comprehensive show notes on this episode go to http://investorfieldguide.com/hbs For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

In this episode, I continue to pull on one of the most interesting threads that I have uncovered while producing this podcast: the world of permanent equity. My guests today are Royce Yudkoff and Rick Ruback, two Harvard Business School professors who have partnered to create a popular class that teaches students how to search for, acquire, and run a small business directly after graduation. I approach this conversation from an investors standpoint. LP investors usually partner with these searchers to form what is called a search fund. A search fund allows recent MBA grads to spend time looking for a business and ultimately acquire it. The result is a small scale but often high return proposition for investors. I loved our discussion of what to look for in a business and what to avoid. The principles we list are useful for investors of any kind, and will particularly appeal to those from the buy and hold, value investing, and quality investing camps. One point of note which wasn’t captured during the recording. One of the reasons this style of investing isn’t more well known that it is extremely costly upfront. It can take years to find a company, and once found, the transaction costs can be 20% of the total purchase price. Rick calls this category “REALLY private equity. If you enjoy this conversation, be sure to check our Royce and Rick’s book. HBR Guide to Buying a Small Business, which goes into many of the topics we cover in even greater detail. For comprehensive show notes on this episode go to <a href="http://investorfieldguide.com/hbs" rel="nofollow" target="_blank">http://investorfieldguide.com/hbs</a> For more episodes go to <a href="http://investorfieldguide.com/podcast" rel="nofollow" target="_blank">InvestorFieldGuide.com/podcast</a>.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at <a href="http://investorfieldguide.com/bookclub" rel="nofollow" target="_blank">InvestorFieldGuide.com/bookclub</a> Follow Patrick on twitter at <a href="https://twitter.com/patrick_oshag" rel="nofollow" target="_blank">@patrick_oshag</a>

Royce Yudkoff and Rick Ruback – REALLY Private Equity - [Invest Like the Best, EP.33]