We are deeply saddened by the passing of the legendary Roy Ayers. A true innovator, Roy shaped and revitalized the musical landscape across generations. His sound became the backdrop to every era he graced, with Everybody Loves the Sunshine serving as an anthem for so many of us.
I’m British.
I recently spent 10 days in the USA for business.
And discovered the ocean between us isn't water.
It's mindset.
7 uncomfortable truths about US v UK culture:
I just published a new business blog The Dark Side of Sales about how to prevent the unintended consequences that powerful incentives can create. While a strong incentive plan is necessary to motivate and retain the best salespeople, it can go awry if not carefully managed. 🧵
There is a US corporation that has a $50B balance sheet, generates a 10% ROIC (~$5B of income per year) but has also convinced the US Government that:
a) it shouldn’t pay taxes and should be treated as a non profit
b) despite making billions more than necessary to cover costs, only spends the government mandated non-profit minimum of what it makes every year, creating an artificial $1.5B deficit
c) then asks the US government for help and gets $1.5B of taxpayer dollars every year to cover the gap that they could cover by themselves but chooses not to
d) while getting government funding, has been accused and found guilty by tue Supreme Court of systemic racial discrimination towards minority groups
This corporation is called the Harvard Corporation.
This book is changing the face of Main Street U.S.A.
Elite MBAs, corporate leaders, and military veterans are forgoing conventional career paths, choosing instead to reshape Main Street through acquisition entrepreneurship in record numbers.
These are people who historically would have gone to Wall Street or Silicon Valley, and worked for global institutions or pie-in-the sky startups.
Now, inspired by the wisdom of the HBR Guide to Buying a Small Business, published for the first time in 2017, and the opportunity presented by The Great Wealth Transfer, these individuals are not just taking charge of existing businesses—they're transforming communities and creating enduring value.
What is an "Enduringly Profitable" business:
1. Profitability & Longevity: Steady, year-after-year profits with a proven track record.
2. Revenue Sweet Spot: Annual revenues between $5 million to $15 million and cash flows of $750,000 to $3 million.
3. Loyal Customers: A solid base of repeat customers, often accompanied by high switching costs.
4. Market Niche: Limited direct competition and a strong, defensible market position.
5. Resilience: Ability to withstand economic fluctuations and maintain steady growth.
Examples of Enduringly Profitable Businesses
1. Commercial cleaning
2. Tree-trimming
3. Commercial landscaping
4. HVAC
5. Plumbing
The landscape of small business ownership is changing.
We have worked with active buyers in random small towns all throughout the U.S.
At Harvard, Standford, Wharton and Chicago, the ETA clubs have become the largest student MBA clubs by headcount and their annual conferences are now drawing thousands.