Tag Archives: Financing

Warren Buffett’s Strategy, Selling Your Business, and Other Topics in Podcast Interview

September 28th, 2014

I was interviewed recently by a very good business broker, Jim Cumbee of the Tennessee Valley Group.  I have gotten to know Jim this year as we worked on a transaction and we had a fun discussion about several topics including: Lessons learned about selling… Continue reading →

9 Lessons Learned About Selling A Business

September 14th, 2014

When selling your business, it pays to learn lessons from others.  Most business owners will not get a second chance to do it well, and it is such an important process for your employees, your customers, and your own bank account that you want to… Continue reading →

My Co-Owners Are Best Part of Investing

July 4th, 2014

The best part of Greybull Stewardship for me is working with the people at the portfolio companies once the investment is done.  The initial discovery process is fun — meeting the management for the first time, understanding what has made the company successful, and exploring… Continue reading →

We’re In Seed-Stage Boom, Not a Series A Crunch

April 6th, 2014

Two related trends in venture capital investing have been getting attention for the last few years. The first is the growth in angel investing, particularly after the crowd-funding provisions of the JOBS Act. The second is the “Series A crunch” where many companies that receive… Continue reading →

6 Pitfalls Between Letter of Intent and Closing the Deal

March 23rd, 2014

When selling your business, it is so much work to find the right buyer and to get to a letter of intent.  That may feel like the hard part.  It is not.  It is just as hard to manage everything that comes next and get… Continue reading →

Evergreen venture fund structure offers new strategy

February 27th, 2014

Heartening to read a blog at Axial about the Evergreen Venture Fund Structure that we use at my Greybull Stewardship:  http://www.axial.net/blog/evergreen-fund-structure/ Thanks to Billy Fink and his M&A blog, I’m excited to have the conversation about how the traditional fund protocols are changing with new… Continue reading →

Perfect Business Financing — Maybe No Outside Equity

February 20th, 2014

Many of the businesses that I end up working with in my investment fund, Greybull Stewardship, do not need outside equity capital — of the traditional sort.  They are growing and profitable and creating real value already. I learn about perfect business financing from them.… Continue reading →

Invest in Strength Rather Than Work on Weakness

February 18th, 2014

For your business, do you believe it is more important to spend more time on your challenges or your opportunities?  Similarly, do you believe that you should invest in your strengths or work on your weaknesses? The answer, of course, depends.  If the challenge in… Continue reading →

Align Your “Loss Ratio” Expectations with Your Investors

January 30th, 2014

In early stage venture capital, the best investors expect that 40% of their investments will become worthless.  Thus, they focus on companies that could be worth billions because the winners have to make up for all their losses.  They want every company to shoot for… Continue reading →

Investment Returns Are Not Greener by Changing Industries

January 26th, 2014

It is easier to earn outsized investment returns in some industries over others — I agree with that conventional wisdom.  As an investor or entrepreneur, it often pays off to think hard about which industries to enter.  If you have a choice, why not increase… Continue reading →