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Back in February we launched our book club. Back at the end of June I updated you all that we hit 50 members. I said then I wanted to hit 100 by Thanksgiving. Thanks for reading. Got suggestions for books for the 2020 version of book club?
I spent Friday hanging out with a bunch of MBA students. I run across a lot of different types of entrepreneurially minded people with varying levels of experience. It wasn’t just Friday that I had noticed that people with an MBA or pursing the degree tended to think differently than I do. For context, I’ve Read more about Is an MBA harmful to entrepreneurship?[…]
So the other night, Jessica and I are bingeing on The Outlander: Season 1. We’re behind the times. We’ll watch Stranger Things in like 2023. Anyway, in Episode 11 the lead characters, Jamie Fraser and his wife, Claire, head back to his home, Lallybroch. For those that don’t follow the show, it is set in Read more about Feudal Laird = Small Business Owner[…]
Recently I went down a Google search rabbit trail and discovered the works of Saras D. Sarasvathy. She researches and writes on entrepreneurship, cognitive science, and behavioral economics. I’ve found myself referring several times since then to one paper in particular that compares her effectuation framework for decision making and firm strategy to several others. Read more about Prediction v. Control[…]
On Friday I attended the 6th Annual Booth-Kellogg Entrepreneurship through Acquisition (ETA) Conference. A few thoughts from the conference and the community. My favorite part of this conference is the misfit nature of it. Most of the conversations that I got into started off with each of us doing some sort of awkward explanation how Read more about ETA Conference[…]
A friend said business can be compared to boating. I love boating and I love metaphors. So here goes: He said the body of water is akin to the industry. It could be a vast ocean or a small pond. The weather is the present business climate. The vessel is the business. It could be Read more about Water, Weather, Vessel & Captain[…]
Many investment ideas are promoted with great conviction but lack intellect. In other cases the intellect struggles to build conviction. This Saturday afternoon I finished writing a thesis for an investment idea. As I put away my laptop and went to shower, I got to thinking, ‘do I think first and then gain conviction? Or Read more about Conviction v. Intellect[…]
We wrapped up yesterday’s case studies at our monthly CEO Lunch and a new member asked me what I thought of the markets. This is not the sort of question I am asked very often. My response was, “I don’t know.” Everyone went quiet and he asked a clarifying question: “What do you think happens Read more about What do you think about the market?[…]
Today’s a quiet one around the office for me. No meetings on the calendar. So what did I do with an open morning? I got a new dataset of companies that meet our target profile. I kicked off some Amazon Mechanical Turks to gather additional data. I turned up my music. I dove into the Read more about Retirement Sale[…]
Prior to purchasing controlling interests in a small business a buyer normally drafts a Letter of Intent (“LOI”) and sends it to the seller. This document outlines the key terms of the verbal agreement and next steps. I try to craft the LOI document to match our verbal agreement and follow the structure of our Read more about Awaiting Response[…]