Justin Burris

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Justin Burris

Justin Burris

@JustinEBurris

Investor in exceptional small and mid-sized companies. Managing Partner at @PortraitCapital with @tsludwig and @mikebotkin_

New York, NY Katılım Kasım 2011
625 Takip Edilen1.5K Takipçiler
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Justin Burris
Justin Burris@JustinEBurris·
I've been cooking up something with @tsludwig, and we’re finally ready to take it out of the oven! Introducing @MajoritySearch, a new investment firm to partner with talented operators to find, buy, and grow small companies. A short🧵on how it works:
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Mike Botkin
Mike Botkin@MikeBotkin_·
Christmas has come early. I’m beyond excited to announce that Josh Schultz [ @joshuamschultz ] is joining me as a Partner to help build Canvas Outdoors. Partnership. It’s the cornerstone of everything I value. True partnership is built on collaboration, mutual respect, and a shared commitment to push each other beyond perceived limits. Having someone by your side who shines a light on your strengths, fills in your weaknesses, lifts you on their shoulders to reach new heights, celebrates the tiniest wins just as much as the biggest ones, and picks you up when you’re down—nothing compares. Being in a true partnership is the greatest feeling in the world. It should feel like a cheat code—like you’ve unlocked something that creates an unfair advantage in the game you’re playing. Josh is the ultimate cheat code. When Josh joined us not long ago, he instantly made a hard game feel easy. Together, we found an unfair advantage. From day one, he rolled up his sleeves and got to work, driving incredible progress in the team and production. Equally important is simply having someone with you. Leadership can often feel isolating, but knowing Josh is standing beside me—not just as a Partner, but as a true friend—brings a new level of confidence and energy to the work we do at Canvas. Together, we’re committed to building something exceptional. I couldn’t be more excited about the journey ahead with Josh and his family by our side, helping to lead the way.
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Mike Botkin
Mike Botkin@MikeBotkin_·
Happy to finally share some news ❗️ I have joined Portrait Capital as a Partner and President of Portfolio Operations. What is Portrait Capital? Formerly Majority Search, @JustinEBurris & @tsludwig founded Portrait Capital with the goal of helping family businesses transition to the next generation of leaders. Our unique fund structure allows us to buy companies with no intent of selling them. Decades. Not years. The biggest lesson I learned in my last venture was that it matters so much more about who is next to you than it does what you are doing. Before joining, we spent a tremendous amount of time discussing life, friends, family, the highs and lows of business ownership, and the ways in which we can assist families by creating a perfectly tailored transition that ensures we honor the family legacy for decades. We were aligned. I grew a major appreciation for Tim and Justin, not as professionals, but as people. Something I was very thoughtful of in making this decision was the time horizon. We cannot ask the families of companies we are buying to trust us for decades if we do not also have an internal trust level with each other that is rooted today but will grow for decades. What they have accomplished professionally is jaw dropping. Who they are as people is even more astonishing. I could not be more excited to partner with Tim, Justin, Bruce, and the people who have entrusted us to make decisions for decades.
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Mike Botkin
Mike Botkin@MikeBotkin_·
Happy to finally share some news ❗️ I have joined Portrait Capital as a Partner and President of Portfolio Operations. What is Portrait Capital? Formerly Majority Search, @JustinEBurris & @tsludwig founded Portrait Capital with the goal of helping family businesses transition to the next generation of leaders. Our unique fund structure allows us to buy companies with no intent of selling them. Decades. Not years. The biggest lesson I learned in my last venture was that it matters so much more about who is next to you than it does what you are doing. Before joining, we spent a tremendous amount of time discussing life, friends, family, the highs and lows of business ownership, and the ways in which we can assist families by creating a perfectly tailored transition that ensures we honor the family legacy for decades. We were aligned. I grew a major appreciation for Tim and Justin, not as professionals, but as people. Something I was very thoughtful of in making this decision was the time horizon. We cannot ask the families of companies we are buying to trust us for decades if we do not also have an internal trust level with each other that is rooted today but will grow for decades. What they have accomplished professionally is jaw dropping. Who they are as people is even more astonishing. I could not be more excited to partner with Tim, Justin, Bruce, and the people who have entrusted us to make decisions for decades.
Tim Ludwig@tsludwig

🚨 For the past two years I've been pretty quiet about things going on with Majority Search, the investment firm I co-founded with @justineburris. It would be a mistake to think that the lack of updates indicates a lack of activity. Today I wanted to share some big news and also provide a little more insight into what we've been building. The big news is that we're rebranding as Portrait Capital. We're really excited about the new messaging and look, which you can find here: portraitcap.com. On the site, you can find more information about our approach, our team, and our investments. If you're an aspiring entrepreneurial leader of a small business, I'd also encourage you to join our talent network. It doesn't have a lot of structure yet, but we've already placed one top executive at a portfolio company from this community and this is where we turn first when needs arise. Majority Search drew on elements from my experience as an investor in search funds and Justin's experiences as an investor and advisor to large family and founder-led firms gained during his time at BDT Capital Partners (now BDT & MSD since they've combined with Michael Dell's family office). As with most new ventures, some of our ideas have proven successful, while others will end their journeys as worthwhile experiments on the road to better outcomes. Our new brand reflects an increased focus on the parts of our strategy that resonated most strongly in the marketplace: our focus on very long-term partnership, putting people at the center of our thinking, and our unmatched ability to perfectly tailor transitions according to the needs and wants of sellers. We aim to be the partner we'd want if the roles were reversed. And, with a broader focus on meeting the needs of sellers, we're not exclusively constrained to situations where new leadership is required, though we remain very comfortable with facilitating leadership transitions as well. The pace of our investments has also been healthy. We've partnered with four companies over the past 13 months and have a full pipeline of opportunities we are pursuing. Our portfolio is diverse and spans recycling, agriculture, home services, and Switchboard, the automation & AI agency I posted about a while back. We expect the portfolio size to double - or more - over the coming year and we'll be deploying a lot more capital. Our team of two has also doubled with @bruceeskesen having joined last year as our first Associate and, more recently, @mikebotkin_ joining as our newest Partner and President of Portfolio Operations. Mike has already made huge contributions in supporting our partner companies and he’s every bit as awesome as you’d expect if you’ve been following his story and thinking on this platform. If you'd like to learn more — whether you are a prospective investor, someone who would like to share potential acquisition opportunities with us, or as a future business leader/CEO who wants to join our talent network — please reach out using the emails on our website or send me a DM here.

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Tim Ludwig
Tim Ludwig@tsludwig·
🚨 For the past two years I've been pretty quiet about things going on with Majority Search, the investment firm I co-founded with @justineburris. It would be a mistake to think that the lack of updates indicates a lack of activity. Today I wanted to share some big news and also provide a little more insight into what we've been building. The big news is that we're rebranding as Portrait Capital. We're really excited about the new messaging and look, which you can find here: portraitcap.com. On the site, you can find more information about our approach, our team, and our investments. If you're an aspiring entrepreneurial leader of a small business, I'd also encourage you to join our talent network. It doesn't have a lot of structure yet, but we've already placed one top executive at a portfolio company from this community and this is where we turn first when needs arise. Majority Search drew on elements from my experience as an investor in search funds and Justin's experiences as an investor and advisor to large family and founder-led firms gained during his time at BDT Capital Partners (now BDT & MSD since they've combined with Michael Dell's family office). As with most new ventures, some of our ideas have proven successful, while others will end their journeys as worthwhile experiments on the road to better outcomes. Our new brand reflects an increased focus on the parts of our strategy that resonated most strongly in the marketplace: our focus on very long-term partnership, putting people at the center of our thinking, and our unmatched ability to perfectly tailor transitions according to the needs and wants of sellers. We aim to be the partner we'd want if the roles were reversed. And, with a broader focus on meeting the needs of sellers, we're not exclusively constrained to situations where new leadership is required, though we remain very comfortable with facilitating leadership transitions as well. The pace of our investments has also been healthy. We've partnered with four companies over the past 13 months and have a full pipeline of opportunities we are pursuing. Our portfolio is diverse and spans recycling, agriculture, home services, and Switchboard, the automation & AI agency I posted about a while back. We expect the portfolio size to double - or more - over the coming year and we'll be deploying a lot more capital. Our team of two has also doubled with @bruceeskesen having joined last year as our first Associate and, more recently, @mikebotkin_ joining as our newest Partner and President of Portfolio Operations. Mike has already made huge contributions in supporting our partner companies and he’s every bit as awesome as you’d expect if you’ve been following his story and thinking on this platform. If you'd like to learn more — whether you are a prospective investor, someone who would like to share potential acquisition opportunities with us, or as a future business leader/CEO who wants to join our talent network — please reach out using the emails on our website or send me a DM here.
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Tim Ludwig
Tim Ludwig@tsludwig·
🚨 This has been a big week of announcements for me...and I've got one more! My firm is supporting the launch of Switchboard, a new automation and AI agency serving the search fund and SMB markets. If your organization would benefit from integrating automation and AI technologies into your operations, or you're an investor or buyer considering an acquisition and would like an Automation Readiness Assessment as part of your due diligence, visit withswitchboard.com to learn more and to book a consultation call. Keep reading to learn why I'm so excited about this team and the value I believe they'll bring to every business who becomes a client...
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Tim Ludwig
Tim Ludwig@tsludwig·
Today is launch day for my podcast, Transitions! I'm honored to have @moseskagan as my first guest and there's no one that I can think of whose story I'd be more excited to share than his. Moses is incredibly thoughtful and well-spoken. Combining that with his humility, self-awareness, and willingness to be vulnerable, and we had all the right ingredients for an amazing conversation and kick-off to the show. We cover a lot of ground in our conversation. You'll learn about Moses' early self-advocacy and competitiveness and how that led to transformative life experiences and relationships, his path to real estate, and his thoughts on teaching and mentorship. This was a lot of fun and I hope you enjoy our conversation! Topics: (00:00:00) - Intro (00:01:33) - Moses’ family history and his upbringing (00:26:22) - Moses’ early career & Real Estate (00:40:23) - The power of writing publicly (00:46:54) - The perception of Moses on ReTwit & the difficulty of entrepreneurship (00:57:13) - Pivotal moments for Moses’ business (01:05:57) - Moses’ next chapter (01:08:42) - Teaching vs. Mentors Link to the episode in the next post...👇
Tim Ludwig@tsludwig

YOU'RE DOING WHAT?!... That's the reaction I've gotten from some people after telling them that I'm planning to launch a podcast. And now I'm telling you. I've always been drawn to learn about people's journeys in life. And, as I've gotten older, I've really come to appreciate how a small number of pivotal moments have a disproportionate impact on each of our lives. While we're living them, we often don't realize the impact they'll have. But, looking back, we're all able to see the times and experiences that most shaped us. And that's the focus of my podcast, Transitions, which will be launching soon. I'm hosting a show where I sit down with some of today's business leaders to uncover the stories behind their success. What shaped them? What kept them going? How did they overcome adversity? Where do they come from? Has success brought them the happiness they thought it would? In recording the first episodes, it has been amazing to go deep with people and learn about the crucible experiences that changed their lives and shaped them into the humans they are. There are common themes that emerge around resilience and self-belief. There's also struggle - with economic hardship, relationships, personal loss, and more. In short, these are stories to which we can all relate. Most of what we know about successful people is the veneer of their position and status. In Transitions, you'll get a first-person behind-the-scenes narrative of the guest's life and an opportunity to learn from them, to find hope and inspiration from their stories, and to find common ground and community. I hope the show helps to break down barriers and stereotypes and, over time, becomes an encyclopedia of collected stories about life's most impactful moments that can serve as a reference tool for anyone facing their own challenges or struggles, or just looking for inspiration. On a personal level, this project has already been a difficult and wonderful experience for me. I've been able to build and deepen relationships, be humbled by working to develop a new skill in interviewing, and have had the great fortune to have received mentorship from people that I respect deeply (@fortworthchris, @johnnypodcasts, @BarrettABrooks, @FoundersPodcast, all of my guests, and many others). When I announce the release of the first episodes, it would mean a great deal to me if you'd give me some help. Specifically: - Please listen and share the episodes with friends and colleagues if you like them - Send me feedback. I want this to work and have a lot to learn, so knowing what is going well and where I can improve will accelerate my -- and the show's -- progress - Suggest guests that you think more people should know and who have compelling stories to share. My DM's are open. I'm incredibly excited to share this project with you all and think you're going to love hearing from the first few guests I have lined up! More to come very, very soon...

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Chris Powers
Chris Powers@fortworthchris·
Next week I'm recording with a SMBTwit legend @tsludwig. We'll be talking about small businesses and search funds. What would you like to know?
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Tim Ludwig
Tim Ludwig@tsludwig·
I spent some time today building outreach campaigns with @JustinEBurris. I really enjoy the process. It involves psychology, writing, data, and sales and is like a big puzzle. So much fun and never-ending chances to improve! Most importantly, when it works, we buy a business!
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Justin Burris
Justin Burris@JustinEBurris·
It boggles the mind that someone could do enough newsworthy things to warrant a newsletter just about them. (Yes, I subscribed)
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Casey Mericle
Casey Mericle@CaseyMericle·
💡 What would be your boat name? I’ll start Distressed Purchase
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Justin Burris
Justin Burris@JustinEBurris·
@patrickdichter Don’t know fast/repeatable your organic customer acquisition process is, but from a capital allocation standpoint, “paying 5x what we acquire clients for organically” is a pretty strong argument against buying this business. I expect that answer will change in a few years.
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Patrick Dichter
Patrick Dichter@patrickdichter·
I’m under LOI on another accounting firm acquisition and need to decide go or no go this week. I’ve been getting cold feet and still feel 40% yes 60% no. Here’s the scoop:
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Justin Burris
Justin Burris@JustinEBurris·
Makes me marvel at: 1. How many other G2 CEOs probably made similarly large, gutsy decisions early in their tenures and didn't end up becoming Xerox (selection bias is real) 2. How much more challenging it was to fund innovation (probably would have been a corporate VC bet today)
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Justin Burris
Justin Burris@JustinEBurris·
Just one year after Joseph became CEO, he made a "bet the company" decision by acquiring the rights to a nascent xerography technology that he proceeded to invest in over 12 years. It wasn't until 1959 that Xerox finally released its first office copier machine.
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Justin Burris
Justin Burris@JustinEBurris·
TIL: Xerox was originally called The Haloid Photographic Company. The company was founded by John Wilson and focused on manufacturing photographic paper. By 1946, the company was generating sales of ~$7mm a year by 1946 (~$105mm today) when G2 Joseph Wilson took the reins.
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Justin Burris
Justin Burris@JustinEBurris·
As a general rule: The less freighted you are by the psychological sunk cost of your own experience, the broader your search is likely to be. That said, specific knowledge is an advantage that shouldn't be ignored, and its absence should be taken into consideration.
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Justin Burris
Justin Burris@JustinEBurris·
And if you, who self-identifies as Mr. Insurance, do decide to pursue EtA, you'll probably be very focused on that one industry. That level of focus can be constructive, but it works better for some models of EtA than others.
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Justin Burris
Justin Burris@JustinEBurris·
One of the elements of EtA that's most surprising to those unfamiliar to those unfamiliar with the model is that someone can lead a business in an industry they haven't spent time in previously. The data is out there - this does work. But I've noticed something interesting.
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Justin Burris
Justin Burris@JustinEBurris·
@BrentBeshore 3 inspirations on maintaining authenticity while being creative: 1. Neil Gaiman's commencement speech youtube.com/watch?v=ikAb-N… 2. Going down the rabbit hole of Stephin Merritt / his bands (Magnetic Fields, Future Bible Heroes, 6ths, Gothic Archies) 3. Stephen King's "On Writing"
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Brent Beshore
Brent Beshore@BrentBeshore·
Good morning! Looking for some new rabbit holes. What are your top 3 books, lectures, letters, blog posts, threads, or works of art that broke a paradigm, opened up a new world, sparked lasting positive change, and set your life on a different trajectory?
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