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The Second Bounce Of The Ball: Turning Risk into Opportunity
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.'One of the best books written on entrepreneurship in recent years. It will reward any reader, from start-up to City banker.' Financial Times
265 pages, Kindle Edition
First published November 8, 2007
37 people are currently reading
282 people want to read
About the author
Ronald Cohen
2 books17 followersSir Ronald Cohen is Chairman of the Global Steering Group for Impact Investment and The Portland Trust. He is a co-founding director of Social Finance UK, USA, and Israel, and co-founding Chair of Bridges Fund Management and Big Society Capital.
For nearly two decades, Sir Ronald’s pioneering initiatives in driving impact investment have catalyzed a number of global efforts, each focused on driving private capital to serve social and environmental good. These efforts are leading the global impact investment movement towards an Impact Revolution.
He chaired the Social Impact Investment Taskforce established under the UK’s presidency of the G8 (2013-2015), the Social Investment Task Force (2000-2010) and the Commission on Unclaimed Assets (2005-2007). In 2012 he received the Rockefeller Foundation’s Innovation Award for innovation in social finance.
He co-founded and was Executive Chairman of Apax Partners Worldwide LLP (1972-2005). He was a founder director and Chairman of the British Venture Capital Association and a founder director of the European Venture Capital Association.
He is a member of the Board of Dean’s Advisors at Harvard Business School and a Vice-Chairman of Ben Gurion University; a former member of the Harvard University Board of Overseers; a former director of the Harvard Management Company and the University of Oxford Investment Committee; a former trustee of the British Museum; and a former trustee of the International Institute for Strategic Studies.
He is a graduate of Oxford University, where he was President of the Oxford Union and serves as an Honorary Fellow of Exeter College. He has an MBA from Harvard Business School to which he was awarded a Henry Fellowship.
In 2007, Sir Ronald published: The Second Bounce of the Ball – Turning Risk into Opportunity and today has authored, IMPACT.”
Sir Ronald lives in Tel Aviv, London, and New York with his wife of more than thirty years, Sharon Harel-Cohen, who is a film producer. They have two children, Tamara and Jonny.
For nearly two decades, Sir Ronald’s pioneering initiatives in driving impact investment have catalyzed a number of global efforts, each focused on driving private capital to serve social and environmental good. These efforts are leading the global impact investment movement towards an Impact Revolution.
He chaired the Social Impact Investment Taskforce established under the UK’s presidency of the G8 (2013-2015), the Social Investment Task Force (2000-2010) and the Commission on Unclaimed Assets (2005-2007). In 2012 he received the Rockefeller Foundation’s Innovation Award for innovation in social finance.
He co-founded and was Executive Chairman of Apax Partners Worldwide LLP (1972-2005). He was a founder director and Chairman of the British Venture Capital Association and a founder director of the European Venture Capital Association.
He is a member of the Board of Dean’s Advisors at Harvard Business School and a Vice-Chairman of Ben Gurion University; a former member of the Harvard University Board of Overseers; a former director of the Harvard Management Company and the University of Oxford Investment Committee; a former trustee of the British Museum; and a former trustee of the International Institute for Strategic Studies.
He is a graduate of Oxford University, where he was President of the Oxford Union and serves as an Honorary Fellow of Exeter College. He has an MBA from Harvard Business School to which he was awarded a Henry Fellowship.
In 2007, Sir Ronald published: The Second Bounce of the Ball – Turning Risk into Opportunity and today has authored, IMPACT.”
Sir Ronald lives in Tel Aviv, London, and New York with his wife of more than thirty years, Sharon Harel-Cohen, who is a film producer. They have two children, Tamara and Jonny.
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Displaying 1 - 13 of 13 reviews
June 20, 2015
I have read many books on entrepreneurship and start-ups but this is a book that stands apart. It doesn't have a great deal on what precisely to do, but what it explains like no other book is the philosophy and mental framework that you require to be a successful entrepreneur. This book should be part of the curriculum of any entrepreneurship program.
September 27, 2011
Classic insight into the mind of a VC veteran.
Lots of case studies and war stories. Easy to read
Lots of case studies and war stories. Easy to read
January 1, 2024
Ronald Cohen spent two years at McKinsey before setting up Apax Partners. Was the founder of the British Venture Capital Association.
In Ronald’s view, what good entrepreneurs have in common is a clear vision - as well as enduring pain to achieve that vision.
European tech companies are at a disadvantage as there is no Nasdaq equivalent which provides a clear exit mechanism for investors.
Risk is an emotive word that masks the value of uncertainty.
The US, in terms of VC trends, is often a leading indicator of what is likely to happen in the EU and the globe.
If there is no large market, and no clear economic trends, do not invest. Furthermore, do not invest in a market unless you have a deep understanding.
A market that has low capital requirements, is likely to have many competitors. When raising money, you need to consider your competitive advantage.
The first bounce of the ball everybody can see. To anticipate the second bounce requires a deep understanding of your market.
Good is the enemy of the great. If you start recruiting good people, great people will not join.
Always follow your intuition, because the more analysis and due diligence you do, the better your judgment.
When needing to move senior executive along, state that you would like you to use their experience to aid another part of the business, not that their time has come to an end.
Summary Page 277.
In Ronald’s view, what good entrepreneurs have in common is a clear vision - as well as enduring pain to achieve that vision.
European tech companies are at a disadvantage as there is no Nasdaq equivalent which provides a clear exit mechanism for investors.
Risk is an emotive word that masks the value of uncertainty.
The US, in terms of VC trends, is often a leading indicator of what is likely to happen in the EU and the globe.
If there is no large market, and no clear economic trends, do not invest. Furthermore, do not invest in a market unless you have a deep understanding.
A market that has low capital requirements, is likely to have many competitors. When raising money, you need to consider your competitive advantage.
The first bounce of the ball everybody can see. To anticipate the second bounce requires a deep understanding of your market.
Good is the enemy of the great. If you start recruiting good people, great people will not join.
Always follow your intuition, because the more analysis and due diligence you do, the better your judgment.
When needing to move senior executive along, state that you would like you to use their experience to aid another part of the business, not that their time has come to an end.
Summary Page 277.
This entire review has been hidden because of spoilers.
December 8, 2008
read it, loved it, may re-read it this xmas ..
July 23, 2011
Good solid guide to being an entrpreneur. Cohen has spent his career really thinking these issues through and covers all the bases. Lots of great quotes.
April 14, 2022
I enjoyed this much more than Sir Ronald Cohen's more recent book, Impact. He has a great voice and is able to break down his highly sophisticated thinking into palatable points. A must-read for any entrepreneur, and even for those like me who don't have an entrepreneurial streak. I felt I gained some important insights into management and how I might develop in my own career. Have already recommended to two friends!
June 14, 2019
Interesting Book; The business journey of the writer, starting from school up to building a successful multinational investments firm. The Business stories are all interesting and revealing. I found them personally sometimes too much detailed. Entrepreneurs will enjoy it and relate. What I like most about it; the focus on ethical business, and value driven business culture.
February 2, 2020
In May 2007 Portland Trust published a study called economics in peacemaking. We have applied those lessons to Palestine. We have undertaken an analysis of the Palestinian economy that concluded that it is capable of providing jobs and a decent standard of living for all its citizens.
September 20, 2019
An earlier "principles' book. Valuable information and ideas about how to bull and manage a business.
December 29, 2022
The best book to understand what is the real entrepreneur’s mindset. If you are looking for a guide book that traces step by step what to do and don’t this book isn’t for you
January 20, 2023
“Doing it right: Principles have a cost, but they are always a bargain in the end.”
Read
June 13, 2024i need to read something fun after this
April 20, 2015
Author has shared his entrepreneurship experience and told about important intelligence about dynamics of venture capitalism.
Displaying 1 - 13 of 13 reviews