Brent Beshore: The “Forrest Gump of Private Equity”

My Guest My guest today is Brent Beshore, Founder and CEO of Permanent Equity, a private investment firm that invests in Founder-owned private companies. Permanent Equity is a long-term investor that typically intends to hold portfolio companies indefinitely, often without the use of any leverage. In addition to his role as an investor, Brent isContinue reading “Brent Beshore: The “Forrest Gump of Private Equity””

Tools in Managing My Own Psychology

Listen to This Blog Post In a previous blog post, Lessons in Managing My Own Psychology, I presented the five most meaningful lessons that I had learned during my tenure as a CEO related to better managing my own emotions. In today’s post I get much more tactical, and discuss the specific tools, routines, andContinue reading “Tools in Managing My Own Psychology”

A.J. Wasserstein: Reflections of a Founder, CEO, Investor and Educator

My Guest My guest today is A.J. Wasserstein, the Eugene F. Williams, Jr. Lecturer in the Practice of Management at the Yale School of Management. His research, writing, and teaching concentrates on search funds, entrepreneurship, programmatic acquisitions, and small businesses. In addition to his role as an educator, A.J. is also a private investor inContinue reading “A.J. Wasserstein: Reflections of a Founder, CEO, Investor and Educator”

The CEO as Chief Capital Allocator

Listen to This Blog Post In his book, The Outsiders, William Thorndike makes a comprehensive and compelling case that effective capital allocation is one of the most important skills that any CEO can possess in their pursuit of value creation. Some very influential people seem to agree, with both Warren Buffett and Charlie Munger includingContinue reading “The CEO as Chief Capital Allocator”

Buy at 5X EBITDA, Sell at 8X Revenue: The On-Premise to SaaS Transition of FieldEdge

My Guests My guests today are Steve Lau and Rameez Ansari, co-CEOs of AutoLeap, a cloud-based auto repair shop platform that counts Bain Capital Ventures among its investors. Prior to founding AutoLeap, Steve and Rameez purchased, operated, and sold D’Esco (later renamed FieldEdge), a software company that helps entrepreneurs run their HVAC, Plumbing, and ElectricalContinue reading “Buy at 5X EBITDA, Sell at 8X Revenue: The On-Premise to SaaS Transition of FieldEdge”

Knowing Who, When, and How to Fire

I will never forget the first time that I had to fire somebody. In the days, hours and minutes leading up to the meeting that morning, sleep was elusive, my heart was racing, my mind was completely incapable of focusing on anything else, and the sense of existential dread growing in the pit of myContinue reading “Knowing Who, When, and How to Fire”

Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print”

My Guest John Carvalho is the President of Stone Oak Capital, an M&A advisory firm that focuses exclusively on middle market businesses, with a specific focus on transactions between $10 and $100 million. Among other things, Stone Oak offers acquisition, divestitures, corporate finance and valuations services for its clients. John is also the Founder ofContinue reading “Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print””

How to Know When it’s Time to Quit

Listen to This Blog Post Paradox (par·​a·​dox | per-ə-ˌdäks): A seemingly self-contradictory statement or proposition that, when investigated or explained further, may prove to be well founded or true One needn’t look terribly deep within entrepreneurial folklore to be regaled with stories about the importance of persistence to the entrepreneurial journey, including the generally accepted wisdom thatContinue reading “How to Know When it’s Time to Quit”

Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business

Listen to This Blog Post For many business owners (particularly those actively looking to sell their companies), few things are as exciting as receiving a Letter of Intent (“LOI”) from a prospective purchaser. Beyond the sense of personal validation stemming from the fact that a sophisticated counterparty sees an asset worth paying for, many businessContinue reading “Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business”

All Things Finance & Accounting: Managing Liquidity, Employee Financial Literacy, Capital Allocation, Macroeconomic Uncertainty, and Hiring Your First CFO

My Guest Nicholas Andrews is the Founder of Aspen Consulting Group, a company that performs finance, accounting, and operations consulting for a wide range of small and medium sized businesses. Aspen’s services include technical accounting, corporate finance, valuations, operations planning and M&A due diligence, among others. Prior to founding the Aspen Consulting group, Nick wasContinue reading “All Things Finance & Accounting: Managing Liquidity, Employee Financial Literacy, Capital Allocation, Macroeconomic Uncertainty, and Hiring Your First CFO”