3. The business is often worse than the seller will admit and can be improved more than the seller realizes.
I made my first SMB acquisition last Spring. Here are a few things I learned from the introduction until now:
1. Understanding the financial statements of a small business can be very different than what is taught in an MBA program
3. The business is often worse than the seller will admit and can be improved more than the seller realizes.
6. You'll lose sleep and won't even be able to identify the problem. It's just the pain of owning a business that keeps you up.
12. You'll get asked how many hours you work and you're never really off.
15. If you sign up to pay in net 30 then pay in net 30. Stretching payment terms isn't shrewd, it's dishonest.
More from Finance
1/ I'm thrilled to announce the launch of my new website, a one-stop shop for all the content I'm creating.
There you'll find links to all my podcasts, the TTMYGH newsletter, and other exciting future projects.
2/ In 2020, I reignited my passion for interviewing brilliant people by launching The Grant Williams Podcast in various forms, including The End Game, The Super Terrific Happy Hour, and The Narrative Game.
3/ Starting February 1, I'm taking the bold step of moving these podcasts completely behind a paywall.
For the very affordable price of only $10 a month, listeners can gain access to the Copper Tier of https://t.co/fxUfH8maI4, which includes all current & future podcasts.
4/ Why am I doing this? First and foremost, I aspire to create VALUABLE content. By definition, if something is priced at $0, it isn’t valuable. The time, effort and creativity that goes into these episodes is substantial. To keep doing them properly, they can no longer be free.
5/ I also strongly believe content creators should be able to make a living creating content. If everything is free, that’s not possible. I never seriously considered accepting outside sponsors – complete integrity is too critical to me.
There you'll find links to all my podcasts, the TTMYGH newsletter, and other exciting future projects.
2/ In 2020, I reignited my passion for interviewing brilliant people by launching The Grant Williams Podcast in various forms, including The End Game, The Super Terrific Happy Hour, and The Narrative Game.
3/ Starting February 1, I'm taking the bold step of moving these podcasts completely behind a paywall.
For the very affordable price of only $10 a month, listeners can gain access to the Copper Tier of https://t.co/fxUfH8maI4, which includes all current & future podcasts.
4/ Why am I doing this? First and foremost, I aspire to create VALUABLE content. By definition, if something is priced at $0, it isn’t valuable. The time, effort and creativity that goes into these episodes is substantial. To keep doing them properly, they can no longer be free.
5/ I also strongly believe content creators should be able to make a living creating content. If everything is free, that’s not possible. I never seriously considered accepting outside sponsors – complete integrity is too critical to me.
THREAD: Who are the rising stars of Chinese elite politics in the central Party-State bureaucracy?
For @MacroPoloChina I analyzed last year's ministerial-level promotions to posts in Beijing
TLDR: Ties to Xi Jinping—or a Xi ally—are very helpful! (1/14)
https://t.co/kO2A0Efyq2
Seven politicians were promoted to ministerial-level positions in central Party agencies last year
All are likely to feature on the next Central Committee selected at the 2022 Party Congress
Some could make the CCP's elite 25-person Politburo (2/14)
https://t.co/kO2A0Efyq2
Likeliest for the Politburo is Meng Xiangfeng, new Executive Deputy Director of the CCP General Office
He would replace Xi ally Ding Xuexiang as CCP chief-of-staff if Ding is promoted further in 2022
Meng worked under Xi allies Cai Qi in Hangzhou and Chen Xi in Liaoning (3/14)
Less likely for the Politburo but still important is Jiang Jinquan, new Director of the CCP Policy Research Office
He replaces 5th-ranked leader Wang Huning who led the Party's brains trust for 18 years
Wang remains prominent and will be <68 in 2022, so he'll stay around (4/14)
Other notable central Party promotions include Li Shulei and Liang Yanshun, who both assisted Xi when he led the Central Party School from 2007-2012
Li is a political conservative who is said to be quite close with Xi, even drafting his 2014 speech on culture and art (5/14)
For @MacroPoloChina I analyzed last year's ministerial-level promotions to posts in Beijing
TLDR: Ties to Xi Jinping—or a Xi ally—are very helpful! (1/14)
https://t.co/kO2A0Efyq2
Seven politicians were promoted to ministerial-level positions in central Party agencies last year
All are likely to feature on the next Central Committee selected at the 2022 Party Congress
Some could make the CCP's elite 25-person Politburo (2/14)
https://t.co/kO2A0Efyq2
Likeliest for the Politburo is Meng Xiangfeng, new Executive Deputy Director of the CCP General Office
He would replace Xi ally Ding Xuexiang as CCP chief-of-staff if Ding is promoted further in 2022
Meng worked under Xi allies Cai Qi in Hangzhou and Chen Xi in Liaoning (3/14)
Less likely for the Politburo but still important is Jiang Jinquan, new Director of the CCP Policy Research Office
He replaces 5th-ranked leader Wang Huning who led the Party's brains trust for 18 years
Wang remains prominent and will be <68 in 2022, so he'll stay around (4/14)
Other notable central Party promotions include Li Shulei and Liang Yanshun, who both assisted Xi when he led the Central Party School from 2007-2012
Li is a political conservative who is said to be quite close with Xi, even drafting his 2014 speech on culture and art (5/14)
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Krugman is, of course, right about this. BUT, note that universities can do a lot to revitalize declining and rural regions.
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote:
One thing I've been noticing about responses to today's column is that many people still don't get how strong the forces behind regional divergence are, and how hard to reverse 1/ https://t.co/Ft2aH1NcQt
— Paul Krugman (@paulkrugman) November 20, 2018
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote:
So friends here is the thread on the recommended pathway for new entrants in the stock market.
Here I will share what I believe are essentials for anybody who is interested in stock markets and the resources to learn them, its from my experience and by no means exhaustive..
First the very basic : The Dow theory, Everybody must have basic understanding of it and must learn to observe High Highs, Higher Lows, Lower Highs and Lowers lows on charts and their
Even those who are more inclined towards fundamental side can also benefit from Dow theory, as it can hint start & end of Bull/Bear runs thereby indication entry and exits.
Next basic is Wyckoff's Theory. It tells how accumulation and distribution happens with regularity and how the market actually
Dow theory is old but
Here I will share what I believe are essentials for anybody who is interested in stock markets and the resources to learn them, its from my experience and by no means exhaustive..
First the very basic : The Dow theory, Everybody must have basic understanding of it and must learn to observe High Highs, Higher Lows, Lower Highs and Lowers lows on charts and their
Even those who are more inclined towards fundamental side can also benefit from Dow theory, as it can hint start & end of Bull/Bear runs thereby indication entry and exits.
Next basic is Wyckoff's Theory. It tells how accumulation and distribution happens with regularity and how the market actually
Dow theory is old but
Old is Gold....
— Professor (@DillikiBiili) January 23, 2020
this Bharti Airtel chart is a true copy of the Wyckoff Pattern propounded in 1931....... pic.twitter.com/tQ1PNebq7d
fascinated by this man, mario cortellucci, and his outsized influence on ontario and GTA politics. cortellucci, who lives in vaughan and ran as a far-right candidate for the italian senate back in 2018 - is a major ford donor...
his name might sound familiar because the new cortellucci vaughan hospital at mackenzie health, the one doug ford has been touting lately as a covid-centric facility, is named after him and his family
but his name also pops up in a LOT of other ford projects. for instance - he controls the long term lease on big parts of toronto's portlands... where doug ford once proposed building an nfl stadium and monorail... https://t.co/weOMJ51bVF
cortellucci, who is a developer, also owns a large chunk of the greenbelt. doug ford's desire to develop the greenbelt has been
and late last year he rolled back the mandate of conservation authorities there, prompting the resignations of several members of the greenbelt advisory
his name might sound familiar because the new cortellucci vaughan hospital at mackenzie health, the one doug ford has been touting lately as a covid-centric facility, is named after him and his family
but his name also pops up in a LOT of other ford projects. for instance - he controls the long term lease on big parts of toronto's portlands... where doug ford once proposed building an nfl stadium and monorail... https://t.co/weOMJ51bVF
cortellucci, who is a developer, also owns a large chunk of the greenbelt. doug ford's desire to develop the greenbelt has been
and late last year he rolled back the mandate of conservation authorities there, prompting the resignations of several members of the greenbelt advisory