andreweverett360 Book Review, economics

Entrepreneurship


Entrepreneurship: A Primer
by Eamonn Butler

“Entrepreneurship is the unseen factor of production. Land, labor, and capital produce nothing until they are actively put to work. They need to be directed and focused by some human mind—an entrepreneurial mind that realizes how they can be used to create value.”

“British philosopher and economist John Stuart Milll (1806-1873) identified entrepreneurs as people who assume both the risk and the management of a business. Today, economists focus on the role of entrepreneurs as innovators or in spotting opportunities or taking risks in a world of future uncertainty.”

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andreweverett360 Book Review, Finance

HBR Guide to Buying a Small Business


HBR Guide to Buying a Small Business: Think big, buy small, own your own company
by Richard S. Ruback and Royce Yudkoff

This book provides a methodology to find, evaluate, finance, and acquire a small business. The autonomy of entrepreneurship is compelling to many, but the failure rate of start-ups is high—more than two-thirds of them never deliver a positive return to investors. In contrast, this approach seeks to buy and manage an existing “enduringly profitable” business. The authors teach a course in entrepreneurship through acquisition at Harvard Business School.

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