Why You Should Buy a Business (and How to Do It) – HBR Podcast
At BizON we are on a constant journey to connecting with like minded individuals that believe in the power and vision of ‘Entrepreneurship Through Acquisition‘, and one of those individuals is Taryn Herritt – a high volume seller on BizON (check out her listings here) and one of our newest contributor to the Desk of BizON.
We wanted to reblog a piece she wrote:
If you have ever entertained the idea of becoming an entrepreneur – this podcast is for you.
As a self-admitted podcast addict, I have a wealth of recommendations for podcasters and episodes that focus on business, entrepreneurship and personal growth. One particular episode of the HBR IdeaCast (a weekly podcast featuring the leading thinkers in business and management from Harvard Business Review) immediately caught my attention last year and I’ve listened to it multiple times since: “Why You Should Buy a Business (and How to Do It)”
There are three primary ways to become a business owner: (1) start-up (2) franchise or (3) purchase an existing business. While options (1) and (2) are widely understood (there are even magazines solely dedicated to these paths to entrepreneurship) … there isn’t as much information out there on purchasing an existing business. While it doesn’t have the same news-worthy appeal … entrepreneurship through acquisition truly is a fantastic avenue to becoming a business owner and offers very appealing financial returns. This podcast offers a thought-provoking overview of entrepreneurship through acquisition – and I highly recommend adding it to your ‘up next’ episode list!
I’ve included various ways to access the podcast for you below and also included a link to a book on the same topic. I’d love to hear your thoughts once you’ve had a chance to listen!
Link to the website here:
“Why You Should Buy a Business (and How to Do It)”
Link to the episode from iTunes here: https://itunes.apple.com/ca/podcast/564-why-you-should-buy-a-business-and-how-to-do-it/id152022135?i=1000381323984&mt=2
The two Harvard professors featured in the podcast (Ruback and Yudkoff) also authored a book on this topic which I’ve read and recommend. Check it out here
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.
Taryn Herritt a high volume seller on BizON (check out her listings here) and a licensed business broker who is passionate about entrepreneurs and entrepreneurship through acquisition. She works with the industry leading M&A team at Beacon Brokerage in a variety of verticals and brings over a decade of experience in commercial real estate, business valuations and multi-million dollar business line management. Check out her site here. Also, make sure to follow her on Instagram.
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