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LATEST FIELD NOTES

  • The Day 10 Client Wasn’t Delusional. He Was Early.

    Around 2011, Konstantin Tsybulko and his team had a name for a certain kind of client. The “Day 10 client.” It was the founder who looked at a project plan,
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  • Sometimes Growth Means Doing Less

    There’s a moment in my latest conversation with Gene McCarthy that stuck with me. Gene was leading the Michael Jordan Brand for Nike when he made a recommendation that sounds
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  • Your Business Can’t Outscale Your Leadership

    There comes a point in almost every growing business when working harder stops being the answer. The founder is still involved in every major decision. The team is waiting for
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  • The Biggest Decisions Don’t Always Happen in a Conference Room

    We’re conditioned to think important business decisions happen around a table. Strategy meetings. Boardrooms. Offsites. Presentations. Spreadsheets. But some of the most honest conversations I’ve ever had with entrepreneurs didn’t
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  • Sometimes the Most Productive Thing You Can Do Is Stop

    We spend a lot of time talking about discipline. Push harder. Stay consistent. Keep showing up. Do the work when you don’t feel like doing the work. I believe in
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  • The Strongest Athlete Doesn’t Always Win 

    One of the biggest misconceptions about endurance sports is that the strongest athlete always wins.  Strength matters. But over a long enough distance, strength alone is rarely enough.  The athlete who
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  • Should You Listen to the Voice Telling You to Stop? 

    During any serious endurance challenge, a voice eventually appears.  It tells you that you’ve done enough.  That stopping would be reasonable.  That continuing is too uncomfortable, too difficult, or simply not worth
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  • What Endurance Taught Me About Success

    For years, I thought of business and endurance sports as two different parts of my life.  They’re not.  The discipline that helped me build and eventually sell a company is the same discipline
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  • The Questions That Changed My Business

    Over the years, I've learned something interesting. The biggest breakthroughs in my business rarely came from finding the right answers. They came from asking better questions. As founders, we're expected
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  • The Hardest Thing to Transfer Isn’t Your Business

    When most founders think about an exit, they think about valuation. Revenue. EBITDA. Multiples. Those numbers matter. But they're not the hardest thing to transfer. The hardest thing to transfer
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  • Preparation Creates Optionality

    Business owners spend years building companies. Far fewer spend the same amount of time preparing those companies for opportunity. Opportunity doesn't always arrive on your schedule. It may come in
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  • Your Calendar Reveals More Than Your Financial Statements

    If I wanted to understand your business, I wouldn't start by looking at your financial statements. I'd start with your calendar. Not because revenue, EBITDA, and cash flow aren't important.
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  • The Biggest Mistake Founders Make About Selling Their Business

    Most founders think exit readiness begins when they decide to sell, but that is not the case. By the time you decide you're ready, the market has already decided whether
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  • Untitled

    The Biggest Mistake Founders Make About Selling Their Business Most founders think exit readiness begins when they decide to sell, but that is not the case. By the time you
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  • Do You Know Your Freedom Score?

    Most founders know their annual revenue.  Many know their EBITDA.  Some even know what they think their company is worth.  But very few know the number that matters most.  Their Freedom Score. 
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  • The Business Conversation You Can’t Have 

    Most business conversations can happen out in the open.  Growth. Hiring. New products. Expansion plans.  But there's one conversation founders often can't have with anyone:  "What if I sold my company?"  The moment that question
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  • Who Has Permission to Tell You You’re Wrong? 

    Most CEOs don't make bad decisions because they lack intelligence.   They make bad decisions because leadership can be isolating.     At first, the signs are subtle.   You stop asking for advice because you
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  • It’s Lonely at the Top

    One of the things nobody tells you about entrepreneurship is that success can be surprisingly lonely.  When you're building a business, you're surrounded by people. Employees, customers, partners, advisors, family. Yet as your company
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  • Most Founders Wait Too Long to Prepare for an Exit

    Over the last two weeks, I’ve been sharing pieces of what I’ve learned about building a company that can actually survive a transaction.  The 8 drivers buyers score you on. 
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  • Where your business still depends on you (and why it matters more than you think)

     Most founders don’t realize how much of the business still runs through them.  Because when you’re in it every day, it’s hard to see clearly.  Things feel like they’re working.  Revenue is growing. The team
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  • Founder Dependency Is a Valuation Risk

    Most founders don’t see it while they’re in it. From the inside, it feels like leadership, staying close to decisions, owning key relationships, stepping in to keep things moving. But
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  • Most outcomes are decided long before a founder ever considers selling.

    Not in the process, but in the years leading up to it. That’s where most of the real work happens. Buyers aren’t evaluating intent.They’re evaluating reality. How the company operates
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  • Growth can create the appearance of strength.

    It rarely puts it under pressure. That happens when conditions shift,when decisions need to move faster,when resources tighten,when key people aren’t available. That’s when structure reveals itself;through behavior. Some companies
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  • Leadership gaps don’t usually show up as failure.

    They show up as drag.  Slower execution.  Repeated conversations.  Decisions that don’t hold.  And the founder stepping in more often than expected.  Over time, that pattern creates dependency.    And dependency is one of the
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  • Most founders focus on making the right decisions.

    Fewer pay attention to how quickly decisions move through the company.   But decision speed isn’t just execution. It’s structural.   It reflects where authority sits. How clear ownership is.
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  • Sacred Cows Quietly Kill Enterprise Value

    Most founders know where their business is fragile. They just don’t always act on it. Not because they lack intelligence. But because objectivity is hard when you built the company.
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  • Exit Windows Close Quietly

    Most founders believe they will “know” when it’s time. They assume the market will signal it. That buyers will appear. That conditions will be obvious. In reality, exit windows rarely
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  • Your Net Worth Is More Fragile Than You Think

    Most founder-CEOs don’t think of themselves as “concentrated risk.” They think of themselves as operators. Builders. Strategic decision-makers. And they are. But if 70–90% of your net worth sits inside
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  • Mt. Everest

    I am very behind on publishing a blog post on last year's Mt. Everest summit expedition.  It's coming soon! In the meantime you can watch a complete documentary filmed by
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  • Founder Dependency Is a Valuation Killer

    Most founders don’t believe they have a dependency problem. Revenue is steady. The team is loyal. Customers are happy. From the inside, the business feels stable. But the real question
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