If a group of people want to achieve something special they require a boss who sets the pace, enforces standards, and demands focus. Let’s break this down a bit. A company is a group of people gathered around an idea. I like this definition because it reminds me of the old saying, “We are having Read more about Management’s Critical Functions[…]
I have habit of sending long emails from my iPhone. There is a joke that goes, “I didn’t have time to write a short message.” I have started placing in BOLD, the main points. My justification for the barrage is that I want people to be able to plumb the depths of my thinking as Read more about Whitepapers at Little Engine Ventures[…]
There is tension in business. One of those subtle challenges is determining when to stay the course in the face of opposition and when to change. Also, when do you stay the course when it’s working well, and not change faster (even when it’s really tempting!) I once described myself as an “addict of change.” Read more about Consistency Versus Change[…]
Written by Daryl Starr. Inspired by @JoshSchultz All profitable businesses have a handful of Key Processes. These processes involve coordinating multiple people in various roles, each doing their own specialized procedures. Years ago –prior to Little Engine Ventures– I documented decision trees, printed and laminated them for my field technicians. This was extremely useful for Read more about What are your Key Processes?[…]
My evolution as an entrepreneur and investor has been marked by two distinct phases. I may be entering into a third phase. Phase 1 began at age 19, when I got my first true line of credit. My father co-signed my first note, set me up with a sweetheart deal that was almost guaranteed to Read more about Generating Cash[…]
Last week I wrote a post entitled, “Benefits of the Bull’s Eye Stakeholder Discipline” in which I outline the benefits of a Bull’s Eye stakeholder (customer, investor, vendor, etc.) In this post, I want to document some methods to develop a bull’s eye definition. There are a minimum of three criteria. This uses the same Read more about Methods to Develop a Stakeholder Bull’s Eye[…]
Running a small business is challenging. I would argue that it is more challenging than running a larger organization. There are usually fewer resources (common excuse), but more importantly, there are fewer established procedures; or worse, there are well-established poor procedures. I like to look on the bright side and tend toward assigning a positive Read more about The Appropriate Depth: A Leader’s Guide to Excellence in Small Business Ownership[…]
Our basic investment criteria has not changed since we launched: get paid for the risks we take. We are not seeking guarantees. We provide guarantees and accept risk. Our guarantees often come in the form of cash and simple agreements. The risks we are willing to accept are diverse but of like kind, and of Read more about Updated Investment Criteria for Little Engine Ventures[…]
A whistle blower calls “foul.” Little Engine Ventures Complaint Submission Form A company manager once told me I remind him of a protective father warning him with a firm handshake and stern words before taking the daughter out on a first date, “She means a lot to me. I trust you. Bring her back safely.” Read more about Whistle[…]
Last Friday, Alex from the Think Like An Owner Podcast texted me to ask if we could do a quick catchup on his podcast. We recorded a quick episode that night and it is now available. Nothing has changed too drastically in the Little Engine Ventures world since then. Getting to see into so many Read more about LEV update on TLAO Podcast[…]