The Second Bounce Of The Ball: Turning Risk Into Opportunity

The Second Bounce Of The Ball: Turning Risk Into Opportunity

by Ronald Cohen


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'One of the best books written on entrepreneurship in recent years' FINANCIAL TIMES

In business, everyone can see the first bounce of the ball. It is the second bounce that is uncertain. Ronald Cohen, one of the world's leading private-equity investors, argues that the entrepreneur's aim is to take advantage of that uncertainty: for it is only in situations of uncertainty that significant gains can be made. Putting it another way, successful entrepreneurs know how to turn risk into opportunity.

The book is essential reading for entrepreneurs, wannabe entrepreneurs and all those who want to apply entrepreneurial approaches in all walks of life. It provides relevant background on the development of entrepreneurship and of the venture-capital and private-equity industry through the prism of Cohen's experience at Apax. It provides guidance about how to take advantage of business opportunity: the right people and the right money and the roles played by personality and luck and underlines the importance of ethics.

Product Details

ISBN-13: 9780753824368
Publisher: Orion Publishing Group, Limited
Publication date: 05/01/2010
Pages: 304
Product dimensions: 5.10(w) x 7.70(h) x 1.10(d)

About the Author

Sir Ronald Cohen came to Britain from Egypt at the age of eleven; after winning a scholarship to Oxford and becoming president of the Oxford Union he attended Harvard Business School. As well as founding Easdaq, he founded the Apax Group in 1972, of which he is now chairman. He was knighted in 2001.

Table of Contents

Introduction 1

Exploiting uncertainty is the essence of entrepreneurship

1 Climbing the North Face 11

The higher you aim, the higher you go

2 Fear of failure 45

You can't learn to swim by exercising on the beach

3 Calibrating opportunities 67

If you pick a provincial line, you arrive at a provincial destination

4 Timing is everything 95

A second bounce usually follows a change in the trend or in the cycle

5 Leading a winning team 125

Adapt your role to the needs of the firm, not the other way round

6 Smart money 149

Don't just raise cash, raise your probability of success

7 Ego, intellect and intuition 191

Ego is a turbo-charger, not a navigation system

8 Chance, perseverance and luck 207

Luck is seldom just a matter of chance

9 Doing it right 233

Principles have a cost, but they are always a bargain in the end

10 Exits and entrances 249

Succession is a process, not an event

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