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A typical structure is that the amount of the note, associated interest, and payment schedule are agreed to, then paid out by the company over, say, two to five years. A typical seller note would be 10 to 20 percent of the purchase price paid out at a lower interest rate over the following few years. As a result, the seller is actually helping you finance the purchase. Further, the bank might consider the seller note as equity, and not even require you to come up with any initial capital. If you want to buy a business with no money down, this is probably the most common strategy.
Buy Then Build
Walker Deibel
Mining Members of teams that tend to avoid conflict must occasionally assume the role of a “miner of conflict”—someone who extracts buried disagreements within the team and sheds the light of day on them. They must have the courage and confidence to call out sensitive issues and force team members to work through them. This requires a degree of objectivity during meetings and a commitment to staying with the conflict until it is resolved. Some teams may want to assign a member of the team to take on this responsibility during a given meeting or discussion.
The Five Dysfunctions of a Team
Patrick M. Lencioni
Culp knew that the DBS toolkit itself needed to be modernized, which largely meant adding tools that other organizations had developed and modifying them for Danaher’s needs. These included funnel management in sales, value engineering, voice of the customer, value pricing, and procurement and logistics tools, which were adopted for nearly every Danaher function.
Lessons From the Titans
Scott Davis, Carter Copeland, and Rob Wertheimer
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