FOUNDERS
Daryl Starr
Mikel Berger
Latest Blog Posts
Learn broadly by reading specifically
Alex Bridgeman recently asked what niche publications his followers find most interesting. I replied with one of my favorites that we receive at the office. And a snarky comment. It is Twitter, after all. We talk about books we’ve read quite a bit. We’ve even talked about old academic papers. Niche trade publications are also Read more about Learn broadly by reading specifically[…]
What Multiples Are You Seeing? What Are You Using?
These two questions are asked on a regular basis. Depending on who is asking, they want me to reply, I’m seeing low numbers but we’re paying higher (for yours); or they’d like me to say, I’m seeing high numbers but we’re paying low (for ours.) I enjoy my work too much to make this my Read more about What Multiples Are You Seeing? What Are You Using?[…]
Relationship Business
Are you in a relationship business? I had lunch the other week with a commercial banker friend. He mentioned how important relationships are to his business. A few days later I had coffee with an insurance brokerage friend. He mentioned how important relationships are to his business. When each guy said it, the thought in Read more about Relationship Business[…]
The Market is a Profound Conversation
After completing Robert G. Hagstrom’s “Investing: The Last Liberal Art” I began to re-read my margin notes. His book has over one hundred bibliography entries and is a fantastic introduction to the multidisciplinary worldview of the market. One of my pencil scratches suggested that the market is a profound conversation. Hagstrom uses the word “puzzle” Read more about The Market is a Profound Conversation[…]
2021 Annual Meeting
The partners of Little Engine Ventures are invited to gather. We will confront our progress and blunders over the last 12 months and try to explain how our thinking has evolved since launch and where that may take us on our journey ahead. No questions are off limits. Come early. Stay late. Enjoy our city Read more about 2021 Annual Meeting[…]
The Appropriate Depth: A Leader’s Guide to Excellence in Small Business Ownership
Running a small business is challenging. I would argue that it is more challenging than running a larger organization. There are usually fewer resources (common excuse), but more importantly, there are fewer established procedures; or worse, there are well-established poor procedures. I like to look on the bright side and tend toward assigning a positive Read more about The Appropriate Depth: A Leader’s Guide to Excellence in Small Business Ownership[…]
Diversification Motive
A business owner should diversify when the market no longer responds profitably enough to justify reinvestment –and there is still entrepreneurial appetite, capacity, and talent remaining. The default should be reinvestment in one’s primary endeavor, where the insights and probabilities are strongest. If a firm begins to lose value, then the owner should make changes Read more about Diversification Motive[…]
Making Order While Retaining Decentralization
Our General Managers run sales and operations. And they’re great. I provide “entrepreneurial services.” Some probably prefer I stand down, wild man. When we launched, I used the phrase “we believe in decentralization” quite often. At the time, I had a vague understanding of what that meant exactly. I figured the simple definition was “Hire Read more about Making Order While Retaining Decentralization[…]
Obstacles to Scaling a SMB by 10x
I recently wrote about buy and build; versus buy or build. Shortly thereafter I saw a question posed on Twitter regarding the obstacles. This is my attempt to share those obstacles: Market saturation – most small, service businesses are constrained by their geography. You are not the best HVAC company in the area. You are Read more about Obstacles to Scaling a SMB by 10x[…]
My “Go” Button Still Works
Swing you bum! Last week I had a couple of exciting meetings. Looking back on the conversations, I’m pretty sure I relocated my “Go” button. The deals aren’t closed (far from it), but I just wanted to let our readers know that I still know where the “Go” button is located… and I know how Read more about My “Go” Button Still Works[…]