Plain answers to the questions owners, operators, and investors ask us most.

Operators · 6 min read

How to find the margin your sales team is giving away. Pricing leakage in distribution and manufacturing rarely shows up in a P&L. It shows up in invoice lines, one discount at a time.

Sponsors · 6 min read

Value creation when multiple expansion won’t carry the return. Sponsors now need roughly twice the earnings growth they needed a decade ago. Most of it has to be found inside the portfolio companies, during the hold.

Everyone · 5 min read

Why AI pilots stall in mid-sized companies, and how to start one that doesn’t. Most programs start with a tool and go looking for a use. The ones that pay start with a question that already has a number attached.

Everyone · 6 min read

How to test a business assumption with the records you already keep. A five-step method borrowed from science: write the prediction down, let the data answer, check it twice, and decide in advance what would make you stop.

Owners · 5 min read

Find the value in your company before a buyer does. A buyer will study your records for the upside you left on the table. You can read the same records first and decide whether to capture it or price it in.

Reference · 11 terms

The glossary. Every term we use, defined in a sentence or two.