General Business

One of the companies I work with recently sent the following email to the CEO’s of a number of similar companies (I’ve redacted the email a bit to preserve the privacy of the company): I’m the CEO of [really cool portfolio company]. We’re a [insert company attribute/industry here] company as well I have been talking to a number of other [attribute/industry] players and I think we all are facing some similar issues as we try and both mature our businesses and the [attribute/industry] industry at the same time. I’m pulling together a private discussion group for a select set of these businesses where we can have open conversations with each other about issues we face and how we are dealing…

Over the last 6 months I’ve noticed a large number of business plans that are incorporating some form of “crowdsourcing” into their business models. Crowdsourcing, popularized by James Surowiecki excellent book The Wisdom of Crowds, seeks to harness the power of the masses with the idea that the “crowd” can often produce a better result than any given individual (in the classic crowdsouring example a large group tries to guess the number of gumballs in a jar; typically the average guess is closer to the right number than any individual guess – the crowd as a whole is better than even it’s smartest individual member).  There are some great business ideas around this – particularly ones that truly take advantage…

Years ago I wrote a post about M&A negotiations in which I stressed the importance of using listening in the negotiation process. Last week I was talking about the importance of listening with Micah (not in the context of M&A – just in the context of life in general) when he said to me that he felt that listening, like many things in business, was an acquired skill (i.e., the harder you practice it the better you get). I couldn’t agree more. There’s a real art to listening effectively and completely – one that’s harder to do effectively than it seems but can be pretty obvious to everyone around you when you’re not. I had a colleague once who had…

I was reminded once again this week of the importance of the deliberative process vs. outcome. Or perhaps better put, I was reminded that sometimes the best outcome is simply the deliberation itself. In business one is often extremely focused on solving problems and moving on – sometimes at the expense of valuing the discussion around the problem. This week I was in several meetings where instead of pushing through to a quick decision on something we stopped and had a longer conversation. In one case this resulted in people having the chance to voice an opinion about a matter that we almost blew by without realizing that there were such strong views around the table – eventually reaching what…

I get this question all the time from friends and colleagues. Between portfolio companies, prospective investments, our investment themes, my partners, family and other topics that interest me, there’s a lot of information in my universe that I need to track. And this information ranges from blog posts, to tweets to mainstream press articles. It’s a lot to pay attention to (not to mention all of the individual blogs I follow ….).  For a while I was using Google Alerts but 1) there wasn’t a great way to organize them (they just showed up when they showed up – as individual "hits"); 2) they seemed to be missing a ton of information; 3) at least 2/3rds of what came through…