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Richard S. Ruback

Richard S. Ruback

American economist and academic

Jul 19, 2026

12:21
How do you decide between the two as a potential entrepreneur?
12:25
as a searcher, well, it's something that we talk a lot about.
12:28
And we have a few of our episodes in our very first season of our podcast in which we talk to our students who are just graduating and ask them that question, how they're deciding on whether they should search, whether they should take a traditional job.
12:43
And if they're going to search, are they going to do a funded search or an investor-funded search or a self-funded search? Generally, it has to do with what works for that human and their family, that person.
12:57
It could be that she has a family and has daycare needs and just doesn't have any savings and so can't afford to fund the search herself.
13:06
And so she needs investor capital just to do it.
13:11
Sometimes the searcher might have in mind that They're not really interested in acquiring a smaller business, but want to acquire a bigger business, something in which they can professionalize.

8 MINS LATER

21:08
Who are the searchers? Are they almost nearly all recent college grads with a little bit of work experience?
29:37
Rick, what would you look at?
29:40
I would just extend that a little bit by saying if you can only look at one number, look at margin.
29:47
And if the margin is high, then the firm is doing something right.
29:53
You don't know what, but it's doing something right.
29:57
And so that would suggest further study.
30:01
If the margin is low, I think it's usually time to move on.
30:06
I think it's almost that simple.

17 MINS LATER

47:10
Are there any things that, you know, that you've learned, warnings, you know, maybe ways that they might take some of the advice and apply it differently depending on where they're actually trying to do this process?

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