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Publisher's Summary

Are you looking for an alternative to a career path at a big firm? Does founding your own start-up seem too risky? There is a radical third path open to you: You can buy a small business and run it as CEO. Purchasing a small company offers significant financial rewards - as well as personal and professional fulfillment. Leading a firm means you can be your own boss, put your executive skills to work, fashion a company environment that meets your own needs, and profit directly from your success.

But finding the right business to buy and closing the deal isn't always easy. In the HBR Guide to Buying a Small Business, Harvard Business School professors Richard Ruback and Royce Yudkoff help you:

  • Determine if this path is right for you
  • Raise capital for your acquisition
  • Find and evaluate the right prospects
  • Avoid the pitfalls that could derail your search
  • Understand why a "dull" business might be the best investment
  • Negotiate a potential deal with the seller
  • Avoid deals that fall through at the last minute

©2017 Harvard Business School Publishing Corporation (P)2017 Audible, Inc.

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Written by HBS professors, meant for HBS students

This book goes into detail on how a recent MBA graduate can start a search fund to raise $1M - $2M, search for a company for up to 24 months and in the end purchase an "enduringly profitable," non-sexy, low-growth company with recurring customers. The authors call this "entrepreneurship through acquisition."

They walk you through preliminary due diligence, gauging the owner's commitment to sell, deal terms, making an offer (LOI), confirmatory due diligence and beyond.

1 of 1 people found this review helpful

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  • J.Z
  • 02-18-18

Very detailed and practical

A very detailed step by step guide on how to do this. Good book if you wonder how this is done.

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  • Gerard O Sullivan
  • 07-17-17

For me ...inspirational

Thank you for publishing this book. As well as excellent audio performance, this book will become for me a tremendous reference book as I look to acquire a business. I have a background in corporate M&A as a director of acquisition for large corporates now I'm venturing into acquiring my own business and perhaps several more in time. This book has been inspirational in that way for me...through the content provided, I felt like I have a playbook that will guide me through the processes. I hope that my experience of corporate acquisitions will give me the confidence, professional network and background to successfully acquire. Without doubt Sourcing the prospects is the key at the outset and I plan to give myself up to 2 years to source a business (thanks to my wife's agreement..!). I would love to attend the course as a separate module as it was something not covered on my own MBA in London.
Once again many thanks for a wonderful thought provoking book.