This past week one of my coworkers explained their personal philosophy for getting things done, “I enjoy working in parallels, you can get more stuff done during that time.”
For context: over the past two weeks we have been moving into and setting up a second factory – all while maintaining customer orders. So we have been working in parallel to unpack but also produce quality parts in a timely manner. Moving sucks! but having different parts of the organization work concurrently freed up a lot of time and space (literally).
Working in parallel means you are actively working to get different things going that are able to be done at the same time. Stephen Olmon taught me how to do Gantt charts, which are essentially bar charts for scheduling, and the goal is similar to working in parallel. As you are waiting to get something done, you can actively work on other things.
If everyone waited on you to finish your workload as a leader, nothing would ever get completed. This is a skill you can instill in others as well.
While this concept may seem simple to you, it is a good philosophy to push through your organization. It has saved me a lot of time to be doing things concurrently. Slowing down and not working in parallels kills your momentum. Keeping the practice going of, “I am waiting for X, what else can I be doing?” can be crucial to getting things done.
Thanks to Everest Brady for his help, writing, and research in assembling this week’s newsletter.
The Defining Decade: Why Your Twenties Matter – and How to Make the Most of Them Now – The title pretty much sums it up, treating your twenties like they matter is incredibly important to your career and life.
Do Cool Stuff With Cool People – Kevin Dahlstrom talks with Richard Fertig, the founder of Stomp Capital. Richard shares his expertise in short term rentals and what the Stomp team is doing to innovate in experience-first hospitality. The YouTube version of this podcast also features an exclusive tour of a property in the Outer Banks.
Scott Wilson – Non-Traditional Endowment Investing – Scott Wilson is the Chief Investment Officer of Washington University’s endowment. Not only are their returns fantastic, but Scott has good perspective on doing non traditional investing. You can listen to the episode here.
SMB Job Postings
Michael Girdley of SMB fame is looking to hire a part time writer and content producer. The job description is a masterclass in describing roles while attracting the right person. If you know of anyone who is a good fit, encourage them to apply! You can learn more about the remote role here.
Girdley also came on TLAO two years ago to discuss investing in and owning software companies, you can listen to the episode here.
This Week on Think Like an Owner
Alex’s guest on this episode is Alexis Grant. Alexis and Alex have gotten to know each other through our mutual interest in media and our two small but growing media companies. They share thoughts, ideas, and advice back and forth all the time, and are excited to finally record one of their conversations.
Alexis founded a blog management company that was acquired by The Penny Hoarder, which then sold and gave her some starting capital for The Write Life, which she ran for a few years before selling that business too. Now she’s founded They Got Acquired, a media business covering small online business exits with a growing newsletter and data product.
They discuss all things teams, products, creating content, and one of my obsessions: the convergence of media and high-end products like data. Please enjoy this wonderful episode with Alexis Grant (Listen here).
This Week in SMB Twitter
Think Like an Owner is sponsored by:
Live Oak Bank – Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. If you are in the process of acquiring a company or thinking about starting a search, contact Lisa Forrest or Heather Endresen directly to start a conversation or go to www.liveoakbank.com/think.
Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].
Oberle Risk Strategies– Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. If you are under LOI, please reach out to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to the CEO, August Felker, directly at [email protected].
Oakbourne Advisors– Oakbourne is an independent retirement plan consulting firm that helps small companies design and implement great retirement plans for their teams. Whether you already have a 401(k) in place or are looking to start one for your team, please reach out to learn more about how Oakbourne can set your people up for success in retirement at oakbourne.com/think.