If you think you want to buy an unsexy SMB, I recommend getting onsite to see a few businesses ASAP.
Helps paint the picture of what reality as an SMB operator might actually look like. Especially helpful if you're coming from corp. world like finance or tech...
Totally thrilled to share that I've accepted a position as a tenure-line professor @NorthwesternU@KelloggSchool. This is an absolute dream outcome. I am blessed beyond belief and grateful beyond measure.
Hiring good talent seems to be a challenge for every operator right now.
I thought I’d share some (likely obvious) insights from overseeing the hiring process of well over 1k folks in direct sales. These folks were often commission only or low/mid hourly pay.
1….
Want to start or buy a service biz but don’t know the trade/space to focus on?
Go on Angi and choose city- you can then view all categories under interior, exterior, etc. You’ll see 100’s of different service types and how many are already in business. Good place to start.
In the last day I’ve been reminded of the opportunity to incorporate tech and knowledge (often more experienced folks, but not always the case) in the workforce that can yield significant time/cost savings - examples:
1. When I asked seller why his “most important employee”…
Ever had a conversation in which the least informed people confidently led the way?
In new work @PTetlock, B Mellers, and I show that 'collective confidence calibration' -whether confident group members actually know anything- predicts when discussion helps/hurts group judgment.
I think 99% of people could benefit from this...
A few years back I wasn’t in a great place and was working heavily with my therapist.
One day, after sharing that I wasn’t happy with my motivation for the week, she asked how I could change that.
I jokingly said...
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It’s been three months since I started searching for an SMB to acquire...
To say I was out of my comfort zone would’ve been an understatement.
I don’t have an MBA. Zero background in M&A or PE. I barely knew what an SBA loan consisted of.
BUT
I’m learning as I go...
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