Compass
A discussion on business and corporate culture
Undertake Not What You Cannot Perform: What the Panama Canal Teaches About Raising Capital
George Washington copied out 110 rules of conduct as a teenager. Rule 82 is the best capital-raising advice I know, and the Panama Canal shows why.
Why Mid-Market Companies Wait Too Long to Hire a CFO (and What It Costs Them)
In PE-backed transactions, EBITDA multiples routinely expand from ~3x for small, opaque companies to 6–8x once the finance function is transparent, recurring, and growth-ready. The difference between a controller-led financial story and a CFO-led one is not rounding error. It is two to five turns of EBITDA — $16M to $40M of enterprise value — sitting on the table.