FACT: Businesses thrive on process. Also FACT: Leaders don't invest enough in process documentation. Want to know how a 150-person pool company operates? Reply with "Workflow" and I'll DM you the process map for an 8-digit business.

Buy a pool business they said. Rollup the industry they said. Raise capital they said.

I consider myself fortunate that I grew up experiencing a diversity of people/thought/lifestyles. I'd like to believe I'm a better person for it. Shielding your child from a tongue ring isn't the answer. I'd say trust but verify.

Great in theory. Takes longer to build an EMR than it does a hospital though. And then why build software that only brand new hospitals will use? Might as well just build hospitals where you'll make just as much money.

Context: Gate was locked. Tech couldn't get in. Also not my tech to be clear.

I bought a business with 150 employees. And then proceeded to get lied to every day for a year. You think you're a good leader. Empathetic, understanding, and always ready to listen. But what if that's precisely the problem? I learned this the hard way. Running a multi-million dollar pool company, I prided myself on my open-door policy. I listened, I cared, and I gave second chances. And I got played. Every. Single. Day. Employees spinning tales. Manipulating truths. Fighting for their self-interests. But, saying "no" can be incredibly hard. My empathy had become a weakness. Used against me. Against the business. You see, empathy without accountability is just naivety. And naive leadership? That’s dangerous. It spreads. Infects the culture. Erodes performance. Before you know it, you're running a charity, not a business. So what's the solution? Cold, hard quotas? Ruthless firings? No. That's just swinging the pendulum too far the other way. The answer? Balance. Structure and fairness. Clear compensation systems. Objective and measurable. Communicate changes openly. No surprises or hidden agendas. Set expectations. Not with an iron fist, but with crystal clarity. Is that easy? Hell no. Underperformers don't like being outted. People protecting them don't either. Because fairness isn't always comfortable. In my case, things changed. Slowly. The lies stopped, performance improved and trust earned. Not because I stopped caring. But because I started leading. Remember: Empathy is a leadership superpower. But like any power, it needs control. Unchecked, it destroys. Balanced, it builds.

Great idea. There should be consequences if the gate's locked.

Top employee was in a really tough spot. Lent him $500. He quits and leaves for $1 an hour extra. Never saw a dime of my money. What would you have done?

Left my laptop in an uber this morning. Uber says I can pay driver $20 and speak direct by phone. He doesn't answer (doesn't speak english.) Instead, I get a call from driver's son looking for $200 because dad "will lose a days wages" returning the laptop. Woulda paid $60 surge fare just to have it back. Instead it's 10:12pm and I'm waiting somewhere in LA to exchange. Do I give him the $20 or not?

Accidentally cold emailed the CEO of one of the biggest pallet businesses in the world back when I was searching. He took my call. The untold secret in the industry? They carried their pallets on the balance sheet at $20 a piece when they cost $3.50 to make. Turns out the majors (CHEP and PECO) are pallet pools. Essentially, closed loops of pallets floating around the planet being rented by logistics providers. Searchers wanting to roll up the industry will find that they are in the business of remanufacturing and regional logistics... plenty of PE horror stories there. Whereas the "Blues" and the "Reds" of the world are in real estate. Plenty of equity on their balance sheets!

Lots of new followers recently. 🙌 Probably worth reintroducing myself. I’m an entrepreneur and SMB investor who acquired a handful of pool companies in the Hamptons through the search fund model. Until recently I led day-to-day operations for 4 of our 5 business units and accumulated a story or two. Over the next 30 days I’m building a new company to support and accelerate SMB owners and leaders. Here’s how I got here 👇 I was born in Canada and raised in a restaurant in Maine. When I wasn’t doing dishes or fixing things I sold popcorn door to door for school fundraisers. Theatre kid, shop class, Eagle Scout. Went to McGill for computer engineering. Montréal is an amazing place. Life was grand. Instead I failed out of school after two years. Decided then and there that I wanted to be in finance and finished my degree. Parlayed an internship at a long-only fund into trading gold and forex at TD Bank in Toronto. First time I’d seen that many zeros. I had no business managing that big of a P&L, but I loved it. Relocated with TD to NYC, rubbed elbows with some of NY’s finest SMB owners and trained hundreds of my colleagues to sell forex and trade finance. Made VP and dipped out to do my MBA at INSEAD. While studying I lived out of a suitcase between Guatemala, France, and Singapore. A class on ETA got me hooked on the idea of buying a business. Met a team of British Royal Marines doing leadership development and took a bit of a detour. That morphed into building engineering teams for companies like Mastercard and Crunchbase. Headcount at our company tripled YoY and I learned how hard it is to scale service companies. Especially, remote ones. So, I raised a search fund with backing from some of the OG family offices, UHNWs, and funds of funds. I was determined to buy a service business and closed on a portfolio of companies with 150 incredibly hard-working teammates across 5 business units. My favorite part of operating is working with the team and building great process that simplifies their day-to-day. Last year, after putting the changes the business needed in place, I decided to step away from day-to-day management to attack a couple new projects. My goal on X is to engage and share where I can. I’m blessed to have met so many generous and legendary folks so quickly. - I ski and kiteboard. - Spanish is my third language. French is my second. - I’m still an engineer at heart. I play in python for fun sometimes. - All hamburgers should have cheese. If you liked this, please follow along to hear me wax poetic about pools, business ops, leadership, and SMB in general. Cheers.

I told myself I'd start a new business for my 40th birthday. Well, here we are. I'm 40 and I just launched @torchpx 🎉 We’re helping CEOs and investors who have struggled time and again with traditional business and technology consultants who think in silos. Between myself and my business partner who’s an AI expert, we’re tackling tech due diligence during M&A all the way through to workflow automation and AI-enablement for operating companies. So, why tech diligence, AI, and consulting, then? Well, when I acquired a 150-person swimming pool company in 2021 I learned very quickly that I hadn’t just bought a swimming pool business, but a tech-enabled services company. Because, frankly, every business is tech-enabled today and the harsh reality is that SaaS businesses and pool cleaning companies alike need to future-proof their technology operations. In the case of my pool company, the convoluted technology and finance stacks across the holdco were a drag on the team from the field all the way to the C-level. But, in nearly EVERY CASE, the solution wasn't just more tech, but also better process coupled with earnest cultural change. Managing that transformation helped me realize that my strength is empathy coupled with a deeper than average proficiency in software engineering, finance, accounting, and M&A. Whether it be a line level employee, a founder/CEO, a CFO, the Board of Directors, or the software engineer who's rolling out the new SaaS tool, I can relate and speak their language. But, being a student of business, change agent, and technologist isn't enough these days. So, I joined forces with one of the smartest CTOs and entrepreneurs I know to make sure that SaaS companies and services businesses alike get the holistic, forward-looking, and ROI-based guidance they need. My partner is an expert in Enterprise-grade AI who is dead set on bringing AI solutions to a new genre of business. He's still in stealth for now, but please feel free to ping me privately for the scoop on him. And with that, I'd love to speak to: 1) any business struggling to navigate operational friction where AI or automation could be a solution, or 2) funds and acquisition entrepreneurs looking for high caliber tech diligence that produces more than a report, but a vision for modernization and respect for the financial model. Because it's about damn time we future proof our decisions and our budgets. 🔦

Bought a 150-employee pool company. Quickly learned that many pool techs can't swim. Go figure.

Wishing we were all immune!

For those saying that bitcoin is the solution, you're arguing against yourselves on this one. Expiry is better than loose monetary policy because it directly targets velocity of money. It's the nitrous shot in the engine of rhe economy with benefit of not being inflationary.

LOI signed and countersigned. Let's go!!!

Just received a redline back on an LOI for an exciting business. Their email was titled "Let's do it!" Good indications. Let's get to work!

I thought $200 was wayyy too much

Contemplating sharing a few threads that outline some of my past industry theses and why I passed. Competitive dynamics, revenue models, consolidation trends.. margin and working capital profile. Any interest?

Great reminder. Been on pc for years and finally back on the Mac. didn't realize that the new macbooks are visible in find my eve n if they're asleep. Thanks Tim!

🤦

30 days, 30 industries. Planning to break down 30 industries I evaluated while searching for a business to acquire. I eventually acquired a pool business which isn't the holy grail some make it to be. Planning to share more on that too. What industries would you want me to hack at through the lens of a search fund investor?

tha'ts one way to think about it!

Burned the boats in 2017. Raised capital in 2018. Searched for 3.5 years. Lost 1 to covid. Came close to acquiring a half dozen times. Avoided some huge bombs. Ended my engagement and 7 year relationship. Another bomb. Acquired an incredible pool business in the Hamptons in 2021. Negotiated with billionaires over a $1000 a year (yes, three zeros). Led an incredible team of 150 people. Built and serviced monsters like this. Wouldn't change it for the world.

Gate was locked. Tech couldn't get in. To7gh situation.

Payroll. Got it. That's fair. He forgot to mention that he's a c-corp and doesn't want to pay tax on his distributions. The number of times I have had a seller ask me to buy the cash on their balance sheet is comical.

Worst part is they aren't understanding. Gonna be tough turning that pool around in time. Setting the tech up for failure.

he taught you right

Hot lead just went cold. Great business having a stellar year. Owners want to hang on for the ride. Can I blame them? Nope. Running a growing business (or buying one, for that matter) is more exciting than a failing one. In solidarity CEOs. In solidarity.

I struggle to see how anyone could truly do the work I'd want done for $5k. Maybe he's just doing a cash proof. And if so, that's maybe a bit rich then.

Hot Take: SMB operators going through ERP integrations could become highly effective product managers in a tech startup. Trial by fire. Who's dreading (or sweating) a ERP implementation?

In principle, I don't disagree. However, even single payer systems need to run on budget and have incentives so that a balance is struck against efficiency and quality of care.

Advice I wish I had when I was 22: > Pick up the phone and speak to people who are genuinely excited to do hard things. Hat tip: @SullyBusiness, great meeting you yesterday bud. Very inspiring!

Slowly making my way to 2000 followers. I'll spare you the "X has changed my life" speech because it simply isn't true. Reflecting on the posts where I'm compelled to reply is rewarding to a degree. A reaffirmation of what excites me. Business problems, leadership, objectivity.

Cost reduction and expense management. The sexiest business model out there. 1) audit the expenses of any company 2) find mistakes in billing, get them corrected 3) negotiate a better deal with a new vendor 4) get paid 25-50% of the savings over 3 years PE buys you at 10x 👇

If you want to play PE and show up to start demanding certain actions from your new employees. Your new acquisition will fail. You've just acquired a legacy business. Congratulations. Now, you're ready to revolutionize. To optimize. To demand results. Stop. This is where most new owners go wrong. They charge in, spreadsheets blazing, ready to reshape this 20-year business overnight. But that approach seldom works. I learned this the hard way. Walking through my newly acquired pool company, I heard: "City boy coming!" That was me. The new owner. Already labeled. Already distrusted. The problem is that businesses aren't just balance sheets. They're living, breathing organisms. With cultures. With histories. With unwritten rules. Ignore these, and you're dead on arrival. I could have demanded changes. Implemented new systems. Cracked the whip. Instead, I cleaned pools. Not what I thought when I left my Wall St career. I had never cleaned pools before. Didn't matter. I got my hands dirty. Because trust in a service business isn't earned in boardrooms. It's earned when you can hold your own in the field. But here's the real problem: Most new owners don't get this. They see inefficiencies. Outdated processes. Missed quotas. They don't see the Jamaican crew who can't swim but still maintain million-dollar pools. They don't see the informal networks that keep things running when systems fail. They don't see the loyalty built over decades. So they demand, dictate, and destroy. And wonder why their acquisition fails. The solution? Empathy, patience, and humility. For one division in particular, we started with stand-up meetings every morning. We also created our "bullpen" where there was a sense of team. We needed cross-functional communication. Next, we introduced accountability gradually. We also aligned on what "exceptional" work should look like. Eventually, our teams started operating more cohesively. I was able to earn the trust of the employees. It's slower. It took about a year of getting lied to every day. But eventually, it works. Because in the end, you're not just buying a 40-year old business. You're adopting a team (and at times literal families) with some employees having worked there for the last 20 years. Treat your new workers like strangers, and they'll be mercenaries. Honor their contributions, and they'll move mountains for you.

Big day for me today. Broke 700 followers. Appreciate all the new subs. Releasing day 3 of my "30 days, 30 industries" content Thursday. Hoping to bang out a pinned backstory too. Gnight.

I feel you. Service is a beast.

I've never been more acutely aware of the seasons since acquiring in the pool industry.

Captivating conversations last night at one of the best attended ETA events I have seen in NYC. Courtesy of legend @AgeofHoffman himself, @LisaGForrest and Sarah Andrews @LiveOakBank who funded the senior debt on my deal 🙏, and @FetaFund who is the search investor we all need!

Humbled as ever. Back to my roots in tech with some of @Andela and the global talent community's finest. 10 years since the launch. Incredible work team! @JeremyJ @nadayar @sasschristina @toluolatunde @senisulyman @IanCarnevale @iaboyeji

Girlfriend bought me a 5 week welding class in September. Woodwork has been my medium since I was a kid. Always dreamed of learning to weld. Can't wait.

I think what’s really important about the original post is that he is acknowledging his implicit bias in his question whereas many people who are responding, have said more about themselves, their judgments and their own biases than augment the conversation that the original poster started. The point is not what a tongue piercing says about someone, but what it says about someone when they judge someone with a tongue piercing.

Yeah, same. 90% positive outcomes for me.. but have been selective as well.

Before the age of 16 I had washed more dishes than most people do in a lifetime. Staffer calls in sick? I had to step in. 30 staff, their kids, and 200 guests don't eat if the dishes don't get done. Every role on a team is critical. Even the kid doing dishes. Lest we forget.

I decided to build a new business for my 40th birthday. That gives me 22 days to get to a "go or no-go" decision. A couple of conversations have been really encouraging. Thx @MalcolmPools and @RoryTyer for your feedback and validation. Now, to get in front of customers!

Most people don't realize that pool service companies up North operate very differently from the South. All because of the Frost Line and ground freeze depths. The solution is closing pools with antifreeze in the lines and staffing down. Memorial Day openings a clusterf**k👇

Heard a story years ago... Girl sees her bf cheating on her with another woman. Instead of confronting him, she gets a dinner plate, takes a shit on the plate, and leaves it on his door step with a fork and a knife. 🍽️

My asset classes: Small private companies. Personal growth. Beers. Friendships.

Beggars can't be choosers. Our pool biz does twice-weekly visits. Someone wants once-weekly? They aren't a fit for us. We can't defend quality on that schedule. Now, if someone wants us there 3x per week? Happy to oblige. We're in a place where we can afford to be selective ofc

Met a guy kitesurfing a year back... afterwards we shared a couple beers and some war stories. Have only followed him on Instagram since. Tomorrow, we're going to discuss me buying his business. Wish me luck. There's opportunity everywhere, just need to look.

Building a B2B biz Start by mapping market dynamics For example, pool companies. Market segment matters. Affluent markets trump low income. ✅ 𝗥𝗘𝗔𝗟 𝗕𝘂𝗱𝗴𝗲𝘁 wealthy end-customers = healthier margins ✅ 𝗥𝗘𝗔𝗟 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗣𝗮𝗶𝗻𝘀 one poler ≠ mom&pop ≠ PE shop

I don't think neck tattoos are necessarily a predictor of one's ability to be compassionate whereas it sounds like they are for you. There are situations in life (where neck tattoos aren't even involved) where I forgo my rose colored view of the world. The irony is that while I may not agree with you, I respect that you have that opinion whereas I'm not sure you respect mine and have judged me for it. All good though!

Hardly. Chord progression is different. Tempos aren't the same.

Great crew at last night's meetup in NYC. Thanks to @RandBusiness for bringing it all together! @SMBProspector great to meet you, good luck on the LOI! @AgeofHoffman awesome catching up in person finally! @NewMajorityCap also great meeting you. Let's do some deals!

So it's not just about fragile male egos and skyscrapers being modern 🍆 measuring contests? Got it.

caveat venditor when selling to PE make sure you understand the equity dynamics... are you truly rolling at the platform level or just a sub-entity? are you pari passu with the LPs of the fund? what are your rights as an equity holder? not all rolled equity is the same

Mark my words. Everyone and their dog is going to try and sell AI to businesses. But, the 2 major differentiators of a vendor will be: - Do they understand your business context and process in totality? - Will they force rank their projects based on ROI? Caveat emptor.

So many small trades businesses don't have strong policies in place. A mix of being busy, not necessarily knowing what works/doesn't, and treating customers like Faberge eggs. "Just fire the customer" is probably the right answer.

There isn't a single technology product in my life that gets as many malicious login attempts as my Microsoft account that I never use. Someone really wants access to the dust collecting in this account.

True story about Ramp Me: So you want to do a full underwriting for my 40-year-old Co acquired in a new LLC? Them: Yup Me: And then you want me to cash collateralize the $1M in annual spend? Them: Yup Me: And you want me to clear the balance every 7 days?

There are highly successful software companies scared out of their minds of AI. GhostCos in waiting. Upstart competitors can build a competing product at 1/10th the cost that's AI first. Imagine being Slack and asking yourself if you should build from scratch or be disrupted.

Working on a national dataset to weigh the attractiveness of a region to pool cos and HVAC... turns out that the USDA's plant hardiness scale is a great proxy for minimum annual temperatures. Their data is easier to work with than NOAA's too. planthardiness.ars.usda.gov/

Decided that this week I'm going to try and add more followers than @meetmikehiggins... nothing like a little healthy competition, amiright?

Fortunately, these guys allowed me to join in on the fun. I have spent the last few months engaging lightly, trying to add a bit more value, and author a couple longer form things, but with any particular goal in mind. The hope is that this will make building out my personal brand a bit more social and fun... let's go!

Caught up a former colleague. Top notch human, struggled with ADD. Years ago I gave him a book, The ADHD Advantage. He's re-read it 5 times and it's a big part of why he has embraced entrepreneurship. Warms my heart. Don't underestimate the power of small gestures or ADHD. ❤️

People think bigger companies don’t have the same issues as small ones. Well, that is not always true. I bought a pool company with 150 employees. 4 and a half affiliated businesses. Sounds great right? At that size, there is likely a nice org chart and only a few direct reports for each division who would do all the work. I could sit back, be home in time to sip Modelos and life would be a breeze. In reality… I was running five separate companies. Different divisions. Different cultures. Different processes. All under one ‘roof’. The construction crew didn't trust the service guys. Service ignored the sales guys. "There's too much drama on that team," they said. What we had was a collection of silos. Each with its own language and rhythms. You think scale solves this. It doesn't. It amplifies it. I was not running a company or even 5 companies. I was herding cats. But here's the thing: Those cats were my lifeline. They knew the business intimately. They had vital relationships and they made the magic happen. So if you are in the same situation I was, you are probably wondering how to bring order to the chaos. Start with empathy. Listen to your team and figure out what is working and what isn’t. Map your processes. Every step, every workflow. It's tedious but crucial. Implement structured meetings. Not to waste time, but to align visions. Bring in a CFO on day one. They're not just number crunchers. They're your translators between divisions. Embrace technology, but don't worship it. A bad process enshrined in software is still a bad process. It's not easy. It's not quick. But after getting lied to every day for a year, getting my hands dirty in the field, finding the bad processes and the good, and unlocking institutional knowledge from key employees… Then we were ready to build 1 great business out of the 5.

100p. Ever fired a customer that you regret firing?

There are some examples of vertically integrated hospital systems... not an expert, of course. But, my understanding is that bringing care and insurance risk under one roof results in better more cost effective outcomes. Not sure that EMR is the place to start though.

The subtle truth of the trades is that many of our techs are quieter and more independent than your average bear. They're also paying more attention and in tune than one might think (hi guys!). Usually the loudest and most abbrassive are the worst performers whereas the quietest are the last to ask for help (or need it). BUT, first hand, from a C-level perspective I have personally misjudged how surgical and organic the feedback can be in the field within a team of soft spoken individuals. No PE bro will ever appreciate this nuance.

Wow. Hit 750 this morning.

Building deal flow? My $0.02 on junior hires. Screen for people: - That you like - Who are HUNGRY - Who are humble - Who "get it" No joke, there are 22 year olds out there who have a more intuitive business sense than many MBAs. Mind blowing caliber of student.

Having 1 and then having twins. Not my situation, but have seen it first-hand. Hooowee!

The answer is to buy higher quality hardware, no?

Yeah. Setting the tech up for failure. So hard to see.

I wanted to buy an alarm company back in 2019. What I found was an incredible industry with great fundamentals. But I passed on it anyways. There are few pillars to the security industry, primarily the "parts & smarts" companies that do design and configuration, the installers that are physically pulling cable through buildings, and monitoring & dispatch services that made you were safe once you were online. Before all the consolidation in the industry, there were plenty of companies that provided some combo of these security services. Electricians even got into the game when they realized there was a TON of juice and cashflow in the monitoring contracts. And here's why... Every install came with a 3 to 5 year contract and super low costs to maintain the client. Margins were on fire the moment the ink was dry! Specialty lenders saw this and tripped over themselves to give incredible terms to the industry. You literally could sign a contract and get a multiple of the contract value in cash within days! This is totally unheard of in most businesses and it created a gold rush that made tons of people incredibly wealthy. And a couple things happened: - Investors bought up smaller players left and right - Valuations grew like crazy - Competition was insanely fierce for new customers Before long the industry was tracking "Creation Costs" compared to RMR (Recurring Monthly Revenue). To win new customers, companies were giving away security systems for free knowing that they could arbitrage the creation costs against the contract value when they sold. Somewhere in the storyline Alarm dot com showed up on the scene, and Amazon acquired Blink -- they went direct to consumer. Definitely a blemish on the thesis. Looking back, I missed an opportunity to invest in an industry that had incredibly unique and favorable dynamics. So, why didn't I pull the trigger? Simple. None of the growing companies in the industry cash flowed. Every dollar of profit was being poured back into growth. Meanwhile, companies that cash flowed like crazy had no sales staff, limited technicians, and weren't growing. Great for a strategic buyer, which I was not. Both of these scenarios broke my Excel model. My fund was focused on buying and building cash flowing businesses - and I couldn't justify paying revenue multiples just to be a CEO. What broke your model as an entrepreneur?

There's only one answer. Pick up the phone and call them.

Follow along if you hate your pool guy or think that rollups are easy (or hard) @KirkNewcombe

Advice to searchers... Industry reports won't teach you what conversations with owners will. Take the calls, even if the business isn't very obviously a fit. Learn to celebrate when you pass on a deal. That focus is valuable. Strive for great business and industry dynamics that are a match for you. You're buying and adopting someone else's challenges. Keep in mind that good margins don't necessarily mean defensible margins.

The dynamics in insurance mean the deck is stacked in their favor and eliminates healthy competition, it's pretty criminal if you ask me. There need to be better mechanisms to introduce competition. That said, plenty of capitalists in the replies here who'd gouge is they could. The knife cuts both ways.

You are: - A landscaping company owner - A snow removal company owner - A pool cleaning company owner Trying to figure out what your team should be tracking? Here ya go: 1. Track opening and closing times for each job 2. Measure the speed and output of each work order 3. Analyze how long it takes for a team to complete an average job 4. Assess any roadblocks that slow down service times 5. Monitor your team's workload to uncover any possible bottlenecks or excess capacity and adjust staffing for next year Knowing what to track each month wins the battle.

🚩 for those of you excited about ChatGPT's integration with Google Drive. It will use your data for training.

Personally, I'd rather winter in the Caribbean.

Most people recognize pool cleaning trucks from a mile with their vacuums hanging off the tow hitch. Pool vacs are awesome tools that cut down time to service dramatically. But, adding vacuums to your toolkit should come with updated team expectations. Here's how I see it👇

Context matters here. Let's not be unnecessarily alarmist. Annually, the global forex market is 1.94 quadrillion dollars in trade. USD accounts for 88% of that. $150 Billion in reis crossing with yuan is a fraction of a drop in the bucket.

If you are a CEO with a Board, make sure they understand that financial reporting requires coordination across the entire organization, not just finance. To do that, you need: - a culture of accountability from the bottom to the top - line level employees posting accurately, on time, always - integrated tech/infrastructure - management layers that prioritize finance's needs This takes time to build, repair, maintain. If a Board doesn't appreciate the above, good luck.

My advice for anyone automating they're business: Don't just replicate your existing process. First, document, simplify, and optimize ...THEN find technology solutions to support the new optimized process. Optimize before you automate.

In his case. Gate was locked.

Maybe don't change that process until you understand it.

Last week I told X that I was starting a business for my 40th birthday.. So, what did I have accomplished in the last 3 days towards my goal? - Pinged business acquaintances that built @ForbesCouncils for their guidance. - Had a VC tear my idea apart. "Those who can't do, teach." He says. Good reminder. - Built a plan to get more direct feedback from my target customer.

Two of the smartest people I know told me yesterday at lunch that they want to buy laundromats. They're not wrong. But, Codie is still a shill.

The single greatest risk in acquiring pool companies is Warranty Liability. Haters will say staffing is risk #1. Pareto Principle. 20% of customers will consume 80% of a team's time. Fixing one customer's problems means others are being forgotten. How do you value that cost?

4 days in the market with @TorchPX, closed one client, advancing a second with high probability to close, a third with a very clear problem set and propensity to close. Pitched proof of concept to train an LLM on a dataset ripe for this evolution. Zero marketing.

What's the going rate and structure for appointment setters?

Most business owners say they understand the value of automation. But most think it is just a nice-to-have. It's a different story when there are real numbers, not hypotheticals of how much time & resources a well-placed automation can free up.

Product Market Timing Is that a term? If not, I just coined it. There is an ocean of tech innovation coming to market that is going to be irrelevant overnight. HOT then cold.

Good call. To be clear. Not outing Ramp's current policies. This is a 2022-23 anecdote. At the time I gave the business to CapOne. But, objectively, their reporting sucked and I would have rather been a Ramp client. Mighta changed since then.

You acquire a business. It's profitable but stuck in the past. The big question is: how do you modernize? First, take a step back. As tempting as it is to throw out that old fax machine, don't rush into changes. When I bought my pool company, I learned the hard way that understanding comes before transformation. Start by mapping your processes. Every step, every workflow. It's tedious but crucial. We want to understand the input of a process, the output, and who is doing the transformation with what tech (if any). This isn't optional—it will become your roadmap. Next, prioritize. What's causing the most pain? What happens most frequently? Where are the biggest risks? Once you have those answers, you now need to learn about the best modern solutions. Then consider the human component too. Your team might resist change. They're comfortable with the old ways and fear being replaced by tech. The truth is some might, but they are normally the ones slacking off anyway. The ones that are doing well will embrace the improvements over time. But you need to begin with small changes. The quick wins will build trust. Invest in your team and train them. Show them how modernization makes their jobs easier, not obsolete. Finally, don't overlook data. Most businesses stuck in the past often have inaccurate if any reporting. Consolidated reporting is key. It gives you real-time insights into your business health. Be patient. Modernization is a marathon, not a sprint. It takes time, effort, and persistence.

I'm regularly humbled by the folks I get to hang with. Blessed beyond compare. Yesterday's announcement on LinkedIn has had nearly 5,000 impressions with the top job titles being precisely the buyers for my work at @torchpx 🔦