This Week on Think Like an Owner

My guest this week is Edward Coady, CEO of Mainely Grass, a Chenmark-owned company he is taking over leadership for from former CEO and past podcast guest Palmer Higgins. Edward joined Chenmark through their GVP (Generalist Vice President) program, the same way past guests Sean Joy and Philip Hussey joined their Chenmark companies as CEO. The GVP program is Chenmark’s CEO accelerator program to get folks first experience in a portfolio company and then as CEO of a new acquisition or current company.

Edward and I discussed designing high conversion website design, his new CEO role and early lessons, Chenmark’s GVP program, repetition, and much more.

This episode is sponsored Hood & Strong, a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].

CEO Reading List

“I know some of you spend a lot of time working on stuff that we put a bullet in the head of. I apologize. I feel your pain.”

This is one of the funniest lines I’ve heard a CEO say about focus. Steve Jobs said this at WWDC ‘97 when asked about OpenDoc, a technology Apple stopped working on.

Julie Gurner’s newsletter this week links to this video of Jobs, the core message of which has been resonating with me the last few months. “Focus is about saying no.” Jobs went on to describe how, left to their own direction, engineers will go in dozens of directions and the total combined effort of Apple as a company would be “less than the sum of the parts.”

Focus means saying no to ideas that might actually be good ones to pursue. CEOs constantly see things to work on and improve in their companies, and are often impatient for them completed. The “shiny object” concept rhymes with this. A focused company, with a focused leader, can create value greater than the sum of the parts. I’d even say it’s a leader’s duty to keep the organization focused for the betterment of the company, its customers, and employees.

Today I have a special offer from my friends at Pursuant Capital.

They've had over a dozen of their SMBootcamp LIVE attendees close on their own SMB, with another dozen currently under LOI. They're offering a 10% discount to attend one of their remaining 2023 SMBootcamps down in Tampa, FL to all TLAO subscribers.

Make sure you apply using this link to take advantage of their offer. You can check out their website for more information on the remaining SMBootcamps.

Think Like an Owner is sponsored by:

Ravix Group - Ravix Group is a fraction CFO, outsourced accounting, and HR consulting firm serving small and large businesses alike. Whether you or someone you know is getting started, searching to buy a business, or building out an organization, Ravix will help on the journey. To learn more about Ravix Group, head to their website and tell them Think Like An Owner sent you.

Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].

Oberle Risk Strategies – Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. If you are under LOI, please reach out to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to the CEO, August Felker, directly at [email protected].

Interested in sponsoring? Reply to this email and let’s chat.