Molson Hart

Many similar situations will abound in years to come. If you’re an operator looking for an opportunity, build relationships, make known your intentions, and keep your eyes open.https://twitter.com/blueclock/status/1206307190241472513 …

Just listened to your @patrick_oshag podcast. Do you explain or go into how you manage to run a wide array of companies after the owner departs? It sounds like in many cases it is not as simple as just finding a replacement Ceo; structural changes and new systems are needed.

No magic to it. Make sure you're not buying an owner moat. Build trust with the leadership team. Help where you can and generally leave people alone to live a good life.

So basically, provided you're not buying an owner-moat business, you can hire a new CEO, pick a few low-hanging fruit (shift as much expenditure as possible to a cash-back credit card), and cancel big distractions to get a robust and long-term profitable winner?

Umm, not quite. But, those are a good start. Like life, business is messy and brutally hard.