Royce Yudkoff

But you can certainly buy the sub-million high-quality business at Forex.

But you can certainly buy the sub-million high-quality business at Forex.

Rick, are there others you'd want to put on this list? Well, I think you need to buy a business that you can manage. I like to say if you're allergic to fur, don't buy a pet shop. And I mean that to be emblematic of a whole bunch of things. So many businesses I could not run. I could probably run a landscaping business, but I don't think I could run a biotech.

Rick, are there others you'd want to put on this list? Well, I think you need to buy a business that you can manage. I like to say if you're allergic to fur, don't buy a pet shop. And I mean that to be emblematic of a whole bunch of things. So many businesses I could not run. I could probably run a landscaping business, but I don't think I could run a biotech.

So I think you have to have a business that you can use your talents or develop talents to run. You don't have to know the business. You don't have to be an expert in whatever the business does, but you have to be the kind of person who could learn that.

So I think you have to have a business that you can use your talents or develop talents to run. You don't have to know the business. You don't have to be an expert in whatever the business does, but you have to be the kind of person who could learn that.

Right. Who ends up buying the blue collar businesses from our students? It's usually the people who are captains and lieutenants in the army and the Marine Corps. They're used to managing blue collar workforces.

Right. Who ends up buying the blue collar businesses from our students? It's usually the people who are captains and lieutenants in the army and the Marine Corps. They're used to managing blue collar workforces.

They say, well, we're running the company, but they have a different sense of what a company means. Anyway, so I would add that. You have to be able to run it. The other thing that's increasingly interesting, I don't know if this is a millennial thing or not, because I certainly cared about this when I was looking for a job, is people care deeply about where they want to live.

They say, well, we're running the company, but they have a different sense of what a company means. Anyway, so I would add that. You have to be able to run it. The other thing that's increasingly interesting, I don't know if this is a millennial thing or not, because I certainly cared about this when I was looking for a job, is people care deeply about where they want to live.

I think Royce and I are not convinced, me maybe less than Royce, that you can run businesses purely remotely. I think just being there, walking through the shop floor, talking to people at the water cooler, I think all that belly-to-belly management, if you will, is just really essential, especially if you're inexperienced and young and learning the business at the same time.

I think Royce and I are not convinced, me maybe less than Royce, that you can run businesses purely remotely. I think just being there, walking through the shop floor, talking to people at the water cooler, I think all that belly-to-belly management, if you will, is just really essential, especially if you're inexperienced and young and learning the business at the same time.

The idea that you can buy a business in Mississippi and run it from your ski lodge in Colorado just seems incredible to me. Although I wish it were true, I don't believe it's true. And so often our students are worried about where the business is. So they're worried about the quality of the business. They're also worried about where the business is.

The idea that you can buy a business in Mississippi and run it from your ski lodge in Colorado just seems incredible to me. Although I wish it were true, I don't believe it's true. And so often our students are worried about where the business is. So they're worried about the quality of the business. They're also worried about where the business is.

And then does the business meet their criteria as in what they could personally manage? So it's complicated. It's fascinating. We have this project where our students look at companies that have been for sale in recent past or are currently for sale as part of their project in our second year courses. And that's ongoing now. We recently had this day, Roy, tell them about that.

And then does the business meet their criteria as in what they could personally manage? So it's complicated. It's fascinating. We have this project where our students look at companies that have been for sale in recent past or are currently for sale as part of their project in our second year courses. And that's ongoing now. We recently had this day, Roy, tell them about that.

Right. And you'd think that it would be like one great company and everybody would say, oh, that's the company I want to buy. No, that's not what happens. Beauty is in the eye of the beholder. Yeah.

Right. And you'd think that it would be like one great company and everybody would say, oh, that's the company I want to buy. No, that's not what happens. Beauty is in the eye of the beholder. Yeah.

I mean, first of all, you need to have capital to begin with, the academic problem. But I think it's a pretty open market. And the reason I think that is our school, our institution, Harvard sensibly has very strict rules about relationships between faculty and students, particularly while they're students.

I mean, first of all, you need to have capital to begin with, the academic problem. But I think it's a pretty open market. And the reason I think that is our school, our institution, Harvard sensibly has very strict rules about relationships between faculty and students, particularly while they're students.