Our weekly thoughts and general ramblings about everything related to business – from industries and investments to management and operations.



It’s Basically 1200 Meters

When we lived in Cambridge, we frequented all the common outdoor exercise spots — leisurely jogs along the Charles, grueling stairs in the Harvard Stadium, and heart-rate spiking intervals on the Newton hills.  As such, we enjoyed learning more about the “Tempo Loop” in the Harvard Athletic Complex. 

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I Said No F*ing Brown M&Ms!

While we are more of a Smarties group, we were interested to learn this week that brown M&M's carry relevant significance despite being the worst color for a candy variety.  They are also the most notable thing about a backstage concert rider — the legal document that outlines terms for concert promoters — for Van Halen’s 1982 World Tour.

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Cash Money

Our regular readers will know that our metric of choice is Free Cash Flow.  This is because the crux of our strategy relies upon our ability to purchase cash flowing businesses from retiring owners, and then, over the long-term, using the cash flows from those businesses to fund the equity requirements for growth—whether it be supporting internal growth initiatives or writing a check for our next acquisition.  Without free cash flow, our strategy stalls. 

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It’s the Little Things

We’ve written previously about Admiral William McRaven’s popular 2014 University of Texas at Austin Commencement address, which argued that “if you want to change the world, start off by making your bed.”  He goes on to say that if you begin your day accomplishing one small task to perfection, you will be encouraged to go on to accomplish another task well, and then another, and then another, so on and so forth.  By the end of the day, you’ll probably have accomplished a lot. 

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Green Eggs and Ham

Many look at limitations as excuses for why something cannot be done. We simply don’t have enough time, money, talent, space, {insert reason here}, to achieve a certain outcome. For example, a reasonable person might think it impossible (or implausible) an author could write a best seller using only 50 words.

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How To Introduce Yourself

There’s a lot of work that goes into closing a deal.  You have to find a business, figure out if you’re interested, convince the owner you’re the right fit, agree on a price, conduct diligence, negotiate legal terms, and secure financing, among many other things. 

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