Essays
One idea at a time, written for operators. No newsletters about newsletters.
6 min read
Owner dependence is not a discipline failure. It is what happens when a company is built around a founder's availability instead of a system the founder owns.
7 min read
A practical sequence for moving the daily running of a company off its founder: cadence first, then numbers, then decision rights.
Owner dependence shows up in three places: the multiple a buyer will pay, the ceiling on growth, and the founder's own capacity. Here is how to price each one.