Insights
Thinking for founders who play the long game.
Practical writing on building value, preparing for an exit, and what buyers look for.
Exit Strategy
The Value Gap: Why Profit Isn't Price
Two businesses with identical earnings can sell for wildly different multiples. The difference is rarely found in the P&L.
7 min readRead article
OperationsBuilding a Business That Runs Without You
Owner dependence is the most expensive habit a founder has. Here's how to engineer yourself out of the critical path.
6 min readRead article
M&AWhat Buyers Actually Pay For
Recurring revenue, customer diversification, clean books and a team that stays. A field guide to the things that move the multiple.
8 min readRead article