A No-Nonsense Blueprint for Acquisition
If you’re serious about buying and running a small business, the HBR Guide to Buying a Small Business by Richard Ruback and Royce Yudkoff (aka Rick & Royce) is one of the best playbooks out there. Written by two Harvard Business School professors, this book lays out a structured, practical approach to small business acquisition—without the fluff. Pair this with Buy Then Build and your ETA library is complete.
What’s the Core Idea?
Rick & Royce make the case that buying a business is the best path to entrepreneurship—especially for professionals who want to own and operate something meaningful without the high-risk startup grind.
Instead of building from scratch, acquisition entrepreneurship lets you step into a profitable, existing business and improve it.
Who Should Read This?
This book is a must-read if you’re:
✅ A self-funded searcher navigating your first acquisition
✅ A corporate professional considering small business ownership
✅ An MBA or mid-career executive looking for financial independence
✅ Anyone who wants a structured, methodical approach to buying a business
Key Takeaways
🔹 Why Buy Instead of Build? – The advantages of acquiring an existing, cash-flowing business.
🔹 Finding the Right Business – Identifying industries and businesses that fit your skills and lifestyle.
🔹 Deal Mechanics – How to evaluate financials, negotiate terms, and structure a smart deal.
🔹 Running the Business – What happens after the close, from transition to scaling.
Why This Book Stands Out
Unlike some other books, this one leans heavily on data, case studies, and frameworks used in top business schools. It’s practical, not theoretical, making it an essential read for anyone who wants a step-by-step process for finding, buying, and running a small business.
These guys are super smart and entertaining to listen to, make sure you check out their podcast too.
If you’re looking for a clear, structured playbook—this is it.
