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Tren Griffin @trengriffin
, 5 tweets, 2 min read Read on Twitter
It is a twelve letter word and starts with the letter "D." It's a a highly under-appreciated essential element in creating a successful business. Let me know if you want to solve the puzzle. growth.eladgil.com/book/introduct…
It is a seven letter word that starts with "C. It is another critical element to creating a successful business. It must evolve over time and yet keep some elements constant. Can you solve the puzzle? growth.eladgil.com/book/chapter-5…
It is a ten letter word that starts with the letter "M." The word describes metrics which when achieved establish were the team is in terms of proving the value hypothesis and then *after* that the growth hypothesis. Can you solve the puzzle? growth.eladgil.com/book/the-role-…
It is a six letter word that starts with the letter "H." It is an activity that a CEO will spend way more time on than most people imagine. Can you solve the puzzle? growth.eladgil.com/book/chapter-4…
Distribution, Culture, Milestones, Hiring. 25iq.com/2018/07/28/les…
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More from @trengriffin see all

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"According to the survey results, the median pay for full-time writers was $20,300 in 2017, and that number decreased to $6,080 when part-time writers were considered. The latter figure reflects a 42 percent drop since 2009, when the median was $10,500."
In my blog post on writing books I wrote: "6. Don’t expect to earn more than the minimum wage and be thrilled if you earn more." google.com/amp/s/25iq.com…
"In Mémoires (1759), Voltaire recalled how in his youth he had come across so many writers who were “penniless and held in contempt” that “he had decided not to add to their number.” laphamsquarterly.org/luck/voltaires… "Thanks to his fortune he was free to pursue his writerly life."
Read 3 tweets
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"Companies can lose a lot of money in their early years but be wonderful businesses if they are acquiring customers with long lives and strong variable margins."

But some businesses just do the losing money part. A critical skill is knowing the difference between the two types.
Customer-based corporate valuation (CBCV) = valuing a business on a "bottoms up" basis by valuing the customers. In a subscription business especially, this is an essential process if you want to understand if real value is being created despite a lack of current GAAP earnings.
"CBCV isn’t about being profitable from day one. It’s about variable profitability in net present value terms (while still being mindful of fixed cost overhead of course!)" Determining whether a specific business is a delicious cheesecake or a turd requires detective work.
Read 6 tweets
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“The Fasten Seat Belt sign is now illuminated. If you haven’t already done so, please check your cash and cash equivalent balances. Please lower your burn rate and make sure your defensive investments are in their full upright position.”
“If you find yourself needing an emergency exit from illiquid investments, please read carefully the special instructions card. Cash is more king than ever. If you can’t handle the haircut you are about to experience, please ask someone to do the selling to raise cash for you.”
“We remind you this remains an uncertain and no sympathy correction. No one knows anything for sure as is usual. Crying and whining is prohibited, including in the lavatories. Tampering with, disabling or destroying your brokerage statements is pointless and prohibited by law.”
Read 5 tweets

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Ok, I have to get to household duties shortly, but let me give a few quick reactions to the Fall Economic Update.....

Find the details with backgrounders here:

fin.gc.ca/n18/18-107-eng…
To start, I will highlight three things that haven't gotten much coverage, but that I think are important.
This government has made poverty reduction a priority. A poverty reduction plan with new measures has provided a framework.

Policy action is following up and making a difference.

Think of all those kids with better resources--investments in future citizens (and taxpayers)!
Read 8 tweets
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El que va haver de fer en Godel per dur a terme això va ser d'alguna manera "programar" sobre paper en forma d'equacions aritmètiques el comportament d'un sistema axiomàtic mínim que pogués resoldre aquelles mateixes equacions aritmètiques.
El cop d'intuïció que devia fer falta per afrontar tota aquesta feinada avorridíssima amb la convicció que al final hi ha una conclusió formal valuosa és una cosa que sempre m'ha admirat bastant.
Una altra conseqüència dels teoremes d'incompletesa de Godel és que la consistència d'un d'aquests sistemes no es pot arribar a demostrar d'una manera matemàtica.
Read 164 tweets
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hey if at any time during an interview you get the sense that the hiring ppl don't know what the job role they advertised does, you should just bail
Like I had a couple of interviews recently where I kept getting asked about how I'd fix product, design and operations problems with "tech".

And I just sat there like.
"These aren't problems that engineers solve? You advertised a search for an engineer?"
Read 14 tweets
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BUSINESS LESSONS FROM SCRABBLE | I won a game of #Scrabble over the weekend. I was down by 30 points, but played the word, logjam, on triple word and double letter spots to earn 50 points. #Business #Entrepreneurship
Another day, I was leading in a game of Ludo and had 2 seeds left. My boss was lagging behind, but then he won by pecking my 2 seeds before I could get home. Isn't that like life? Those ahead of you don't always win and vice versa.
My Scrabble game taught me a few lessons about business:
Read 10 tweets
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Time for some #business motivational tips from the 1920s. They certainly got to the point back then...
1920s business tip #1: don't hit the client!
1920s #business tip #2: nobody ever got rich by writing cheques
Read 12 tweets
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Mark Leonard of Constellation took a simple idea, took it seriously, built methodically, and created an empire. And he seems to have done it with humility and kindness.

Side note: It's fun to watch @trengriffin annotate someone's career.
25iq.com/2018/04/07/bus…
Easy to theorize about buying when there’s “blood in the streets,” but almost impossible to do so in practice. Access to patient, aligned capital is a prerequisite, which is exceedingly rare. Having the guts is another thing entirely. Can't know until you’ve done it.
Good businesses, especially good small businesses, tend to maintain a reasonably consistent ROIC. Bad businesses don’t.

But magnitude is also important. Great businesses have the ability to reinvest capital at a high ROIC, which is a rare amongst smaller companies.
Read 15 tweets

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