Vincenzo Belpiede

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The Product-Led P...
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Book cover for Fundraising
Some investors take their interactions with founders personally. They may say unkind words about you, either directly or behind closed doors. Avoid these high-ego investors at all costs; they’re not worth the pain. You wouldn’t believe the ...more
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Walker Deibel
“In 2002, the Journal of Business Venturing published a study that established ten behavioral areas of competence for entrepreneurs that have either a direct or an indirect impact on performance.39 Analytical Innovative Operational Human Strategic Opportunity Relationship Commitment Learning Personal Growth Obviously, not all successful entrepreneurs have all of these traits at the same level, and some may even lack a trait or two completely, but overall, getting the recipe right with these ingredients is what all the empirical evidence suggests is the winner. Essentially, getting a resourceful and driven individual committed to a good opportunity will win every time.”
Walker Deibel, Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

Walker Deibel
“The truth is that there is no correlation between having strong organizational skills and a successful CEO. None. In business, ambiguity reigns. Being laser-focused is actually a bad thing. Entrepreneurs need to be able to deal with managing ambiguity and a changing landscape; the best ones do this extremely well. In 2003, I was in business school. My professor asked us to cut a piece of paper into eight pieces, then write the following words, one on each piece: sales, marketing, financial measures, competition, process, suppliers, and incentives. Then he instructed us to mix them up, then randomly remove half and throw them away. “In real life, business looks more like the paper left in your hand—you don’t have all the information when it’s decision time.” It’s an academic exercise, but illustrative of the ambiguity innate to running a business.”
Walker Deibel, Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

Walker Deibel
“While considering acquisitions as an investment, keep three fundamentals in mind: return on investment, margin of safety, and upside potential.”
Walker Deibel, Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

Walker Deibel
“When evaluating a potential acquisition, the cash flow the company generates is what sets the sale price of the company. It’s the driver behind the valuation and ultimately what you’re paying for. Anything outside of the company’s ability to generate cash is commonly not worth paying for at all. At its core, what you are buying is an asset that provides cash flow.”
Walker Deibel, Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

Walker Deibel
“Personal SWOT SWOT, a common business strategy practice, flushes out the strengths, weaknesses, opportunities, and threats of a particular business. Applying this common business strategy to yourself will fine-tune your self-understanding. The strengths you identified in the last section can go under your strengths, but what about your weaknesses? Just as important as knowing what you’re good at and what you enjoy is knowing what type of activities you should avoid. What areas, tasks, and even possible industries are off-limits for you? What activities just absolutely do not interest you? What assignments do you drag your feet on? These should be identified so you can concentrate on working within your sweet spot and focus on what you do best. Get it all down on paper: the good, the bad, and the ugly. Once you’ve examined where you thrive and what to avoid, it’s time to build your resume. The exercise of putting it together is an important part of looking inward. Record your relevant work experience and what your role was in each position. Be sure to use action verbs to frame your accomplishments; quantify the specific results you achieved. This helps to emphasize what really stands out in your career, where your interests lie, and where and how you get the best results. It also serves to identify what your role should be moving forward. Do you excel in marketing, sales, process implementation, or accounting? What areas are you comfortable growing into and which ones do you want to hire assistance for. One of the most fatal mistakes an entrepreneur can make is assuming that just because they understand the technical work of the business does not mean they can successfully run a business that does the technical work. As Michael Gerber describes at length in his book The E-Myth: Why Most Small Businesses Don’t Work and What to Do About It, staffing, marketing, and cash flow management have nothing to do with baking pies, but everything to do with running and growing a pie business. Spend time reflecting on yourself. The exercise will drive interest in opportunities that may have otherwise not appeared interesting. For the purpose of true self-discovery, ignore your passions and interests for a moment. Simply focus on the activities and functions you are well-equipped to execute. This is about getting in tune with what you’re good at and doing a deep dive into your skillset. At the end of this section, you should have a personal SWOT analysis and a resume written out for your review.”
Walker Deibel, Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

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