Reflections & Reminders

After a rocky 2020 the following guidance to myself sort of fell onto the paper. I thought I’d share in case there are other business owners who didn’t set performance records this year either. Humble thyself. People matter. Improve. Maintain room for error. Share in success. Build an asynchronous foundation. Install remote operating system. Prepare Read more about Reflections & Reminders[…]

When Owners Design Management Incentives

Following my Q3-2020 report a partner inquired on management incentives. He indicated some internal debates in his own business. I shared some rules of thumbs I’ve picked up over the last few years. I wanted to try and bulletpoint my thinking such that it helps my future self, and possibly other business owners. Here are Read more about When Owners Design Management Incentives[…]

Common Practice Too Often Replaces Common Sense

This week a prospective business seller said he didn’t run his business according to traditional cost accounting methods. (I had asked about gross margins to get a sense of gross profit. This is an important indicator to me because it often reveals intellectual property and annual growth ceiling.) He gently said, “that’s just not how Read more about Common Practice Too Often Replaces Common Sense[…]