Daryl Starr

@kreighw I’ve asked a mentor of his biggest regrets. Felt like I had to warm up to that question first though! His answer stuck with me. Frame of mind is the redo. How to do it better? You get all their wisdom at present this way.

I get the opportunity to meet with/be mentored by someone that I admire a great deal. He's had tremendous success across several aspects of life (business, family, faith). What are mindsets I should have? questions I should ask? What do you think? Tagging some below for wisdom!

@joshuamschultz 1/2 of 100 with the other half spread across an awesome team.

Would you rather own? 5 businesses that do 10 million each 1 business that does 50 million 1/2 business that does 100 million 1/4 business that does 200 million 1/10 business that does 500 million

@MikeBotkin_ @EverestBrady @J_M_Vogt Too kind. I am due for some new content.

@darylbstarr @EverestBrady @J_M_Vogt Daryl, I read everything you publish. It’s really good stuff and I have a lot of the blogs/letters saved and bookmarked.

Am I the only one? I prefer newsletters that come sporadically. To me, it indicates that the author had a real reason to write it If I receive a newsletter weekly, I am far more inclined to skip it

@kelceylehrich @michaelnewt Pay an increasing percentage of mgr base as mgr clears three hurdles. We use tangible assets as base to calculate hurdle so managers are not penalized (or rewarded) for goodwill in acquisitions. Incentive to return tangible assets to HQ.

@michaelnewt This is a soapbox for @darylbstarr

Anyone tie equity comp to ROIC or another similar metric? (ie tiers or proportion based on % return)

@shagbark_hick Best way to buy is direct.

Has anyone ever bought land that was not on the market by sending a letter to the owner? I've maintained a meticulous list of all parcels that border the Erie Canal bike trail for the last 18 months, privileging those that are otherwise landlocked, with out-of-state owners. I've got the addresses of all of them, and I am wondering what the odds are I'll find a seller. I'm thinking that if I use a typewriter and a wax seal, and send a nice picture of my wife and I, it might be enough of a personal touch to send it over the edge. Make it as clear as possible I'm not a weird developer, and describe exactly what we aim to do. Quite a few of these properties are owned by the descendants of old farmers who have passed away. I think a lot of times, it's like this: Farmer's son moves to TX, farmer dies, son inherits a 6ac landlocked piece of woodland with yearly taxes of maybe $20, he owns it, never sees it, does nothing with it. Valued at maybe $5k. A guy like that gets a letter in the mail from me, maybe he wants to sell -- he knows he'll never do anything with it. Anyone done anything like this successfully?

@esopchris Does he have his current experience or his younger self? Him today? He’d go after the 10x if it was large, dominated its niche and geo. Him of old? Whichever is public and below TBV. Sell off excess. Recap.

If Buffett were starting over today and he could buy either an HVAC service/replacement company for 10x+, or an equivalent sized HVAC new construction at 3-5x, both in a good market, which would he buy? Not throwing shade at anyone. Just think it’s an interesting question.

@joshuamschultz I’m saddened to hear about this news. However, you both will take the opportunity to improve.

A New Chapter... After an incredible 3-year journey at CaneKast, I'm thrilled to announce I'll be moving on. We've built an amazing platform of systems, technology, and most importantly, people at CaneKast - and we've all learned much along the way. In doing this, I have realized the need for far better resources to run small businesses, industrial and non-industrial. I am, at heart, a teacher and want to take some time to do some deep work, developing tools and resources that allow new and young business owners to excel in what they do. Small businesses are the backbone of our economy, and I'm passionate about enabling them. From my work with @IVMFSyracuseU to the coaching and consulting I do, I believe Small Business fixes so many things in this country. 📈 They increase economic mobility 💰 Spread wealth more equitably 🛡️ Derisk economic shocks 🌱 Develop leaders at lightning speed 🧠 Enhance industry knowledge 🤝 Foster genuine relationships, not office politics We need more small businesses, and we need the current ones to do far better. Is this permanent, no - I still need to work and provide for my family 😉. I'll be either starting or buying a business soon. However, over the next few months I am going to go heads down into documenting and developing a pool of resources, tools, playbooks, and systems to enable small business excellence across the board. I’ve had the desire to step away and focus on this for years, and feel that now is the time given the experience I have (increasing) and the energy levels I have (decreasing) Over the next few months, I'll be: 🎤 Speaking at small businesses on building high-performance teams and operations 🧠 Coaching CEOs and COOs to scale their companies 📚 Writing a book of mini-playbooks for common business challenges 💻 Hosting online trainings to share knowledge at scale 🤝 Consulting with SMBs to implement the SMB Blueprint Can I Help You? If you're a small business owner looking to level up, let's connect! Whether you need help with team building, strategic planning, or implementing efficient systems, I'm here to support your journey. In the meantime, I hope what I share over the next few months helps you greatly in building companies, developing people, and 10xing cash flow across your business. Let's build small business together! 💪

@schmafia Pipedrive CRM

@SievaKozinsky …and budget 18 years.

@joshuamschultz We started with an async operating system design and added in minimum synchronous meetings until the effectiveness plateaued. Discovery? Verbal, synchronous repetition matters.

If you build for async and remote work, your systems can handle both - sync and async - remote and in-office But if you build for sync and in person - things break quickly This is one of the many reasons in always build operational platforms based on being - remote - async - written - scalable

Look out! @LEV_Capital

@esopchris @mikeljberger I think the local Kona owner hires teens to run their trucks. Summer job?!

@mikeljberger Yeah I would think! Just seasonal labor issues.

Business idea: ice cream trucks that aren’t creepy.

A great man. Christian. Father. Leader. Friend.

I’m so proud of the foundations our team has laid. Now we climb.

Most investors underestimate the frequency of moats and overestimate their size. They assume large companies have moats and small companies don’t.

@Baj_Aman I still think every good B2C has key accounts that the experienced brand can tip first. Coca-Cola rolled into a geographic area with a plan. And that included some direct, boots on the ground work. Get the signs hung. Setup trucks. Assure the channels it is about to be go time.

@darylbstarr Thanks Daryl. 1 and 2 taken care of - sort of. Have to skip 3. This is more in the Batch category - competing with the likes of California closets etc. - so advertising for brand recognition needs to kick in sooner. Atleast that’s what I am thinking. 🤔

Who are the experts / have experience in bringing a brand to a new city? Own Perfection Closets in Chicago and bringing it to Minneapolis and then other cities. What are the areas to focus on - SEO? Paid? Radio? Print? TV? Who should I be talking to here? Any retweets are appreciated

@SMB_Attorney I’ve tried and failed to buy this way —but I still sometimes recommend people try it. It’s better to try and fail this way than swing a huge PG note and fail. As a seller? You won’t maximize your price and will probably chicken out.

People often ask me about the concept of working for a seller for a while before deciding to buy the business from them. Both parties get to make sure you're a fit for the role before committing. Based on your experience, do you think this is a wise or unwise approach?

@WilsonCompanies Game of Tetris

Dispatchers are like puzzle masters, ensuring the right tech is on the right job at the right time. They're the daily driver of revenue, orchestrating opportunities and priorities.