If you’ve ever wondered…
Why selecting competent advisors (especially lawyers) is important…
Why selecting a counterparty with demonstrated integrity is important…
Why docs and definitions are important.
Why private equity has a bad wrap… (I don’t buy the “we thought it
Did a long podcast interview a few weeks ago (deeply out of my comfort zone):
youtu.be/NkP_p-jjK1Y
A few moments that may be helpful to some:
28:15: Distributions, Debt & Reinvestment
32:30: Roll ups
35: FCF vs Exit Multiples
42: Marketing Case Study
58: Key Hire Fails
Let's just put it out there: this sucks for everyone...
For workers furloughed or let go
For biz owners forced to cut costs after demand nosedives
For parents left without childcare
For healthcare workers putting themselves at risk and faced with tough decisions
Be kind.
Cold texting is — and I cannot emphasize this enough — the absolute worst way to “reach out” to me.
LinkedIn? Standard.
Email? Fine.
Please don’t text people who haven’t personally given you their cell numbers.
Bentonville is charming.
Trail system may be the best we’ve seen in the US. There’s art everywhere… and with a fun sense of humor. Cute restaurants, and everyone is glad you’re here.
Quick Lower Middle Market Lesson: Cash is still king.
A company may be "highly profitable" in terms of adj EBITDA. Dig beneath that number and you may find a situation in which cash distributions are impossible. In fact, the company eats cash.
How could a company eat its cash?
Isn’t this the purpose of the Proust Questionnaire?
But if they aren’t expecting an interview, find a story that makes them emotionally attentive, and then dive in from there.
