Simple business lessons from a 14-hour road trip: 1) We spend too much time thinking about the last few turns and not enough deciding which interstate to use. Sweat the big stuff. 2) Small changes in speed make a big difference over long periods of time. Can you go 5% faster?↗

Channel the worldview of @shl I organized and distilled his last 3,000 tweets into a summary of his big ideas, in two parts… Part 1⃣: Business, Learning, and Life Philosophy↗

1/ Charlie Munger's second tweetstorm, but this time for new business school graduates. "We get these questions a lot from the enterprising young. It’s a very intelligent question: You look at some old guy who’s rich and you ask, ‘How can I become like you, except faster?’"↗

Buying a business, especially a good one, is hard. But not impossible. And not without risks. Reducing those risks takes a good process, emotional control, discipline, savvy advisors, and relentless hard work. Though just about anyone can do it.↗

When buying a business, you want actual cash flows to tie to the reported financials of the company. If the actual flows of cash differ materially from the reported numbers, you'll want to dig in. One exercise to evaluate this uses a tool called a 'cash proof template'↗

There aren’t many things that don’t scale when you charge money for them.↗

Founders: what's in your pitch deck? Here are my must-haves: ✨Vision 💵Market size ☹️Problem 😊Solution 🏰Competition/differentiation moat 📝Go-to-market/business model 📈Traction/financials 🗺Roadmap/milestones to achieve 👛Fundraise/use of funds 👩🏽‍🎤Team/advisors/investo…↗

2000 customers @ $39/month is almost $1M/year. - You don't need to dominate the market. - You don't need to disrupt anything. - You don't need to conquer the competition. You can add 1 new customer/day & before you know it, you'll have a $1M/yr machine. Wouldn't that be enough?↗

A friend is selling their niche, profitable SW business - $1.5M rev / $500K net income. Are there any PE buyers at this nano-scale?↗

the financial stack of a multimillion dollar services business 👇↗

Do you run a self-funded *profitable* business? 🤑 Let’s make a list! 👉 Reply with your website :) Any type of business counts.↗

All platforms have their favorite partners: - The partners that bring them business - The partners that help them close deals - The partners that make their customers the most happy - The partners that fill the most critical feature gaps Do whatever it takes to be one ;)↗

Check out the full discussion here: anchor.fm/square-one-con…↗