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Michael Girdley

@girdley

Mar 8

I’ve built hundreds of teams in life and business.

Some small -- and some big teams making $10mm+ decisions.

Here are 9 principles I use to craft high-performing teams:

(1/x)

The Peacemaker Principle

It’s tempting to create a team of all hard-chargers.

That's a rookie mistake.

High-performing teams often include a “people person."

These personalities naturally defuse minor conflicts in the team before they get big.

The Clear Mission Principle

Great teams need a North Star.

Can the team make a difference?

What purpose do they serve?

Create an inspiring mission to perform at the highest level.

The whole team should know their WHY.

Read 12 tweets

Michael Girdley

@girdley

Mar 4

@acquanon

I remember when we hoped for 500 downloads an episode for @acquanon.

Times have changed!

(Funny story -- I'm on a call with our lawyer today.

He says, "Let's say you want to buy an ice cream machine distributorship..."

He's a new listener and had heard episode 172.)

@prateekaneja

For a while, a weird bot downloaded thousands of ep 103 with @prateekaneja.

It's still our all-time leading episode.

Our #2 episode? @JoeCassandra for ep 80.

3rd is @markbrooks.

Is this a sign we need to do more interviews?

@BillDA @thegeneralmills

Subscribe if you don't already:

podcasts.apple.com/us/podcast/acq…

And on Youtube:

youtube.com/channel/UCXCYK…

Read 4 tweets

Michael Girdley

@girdley

Feb 17

How do you performance review a CEO?

Just like any other employee review, right?

It's not that simple.

Here's how I do it.

A 🧵:

First, a little background:

I started using each company's performance review process for CEOs.

But I found a problem:

These standard processes assumed I was in the company daily.

I'm not their manager.

I'm a board member/owner.

So, I needed something different.

My process has six steps.

Step 1: The CEO and I list colleagues (in and outside) who speak to their performance. We get their input/data.

Step 2: The CEO self-evaluates, answering questions about leadership ability, goals, blindspots, etc.

Step 3: I do the same.

Read 7 tweets

Michael Girdley

@girdley

Feb 5

The business books mostly repeat the same ~50 ideas.

But, some lessons I only learned in the trenches over 25 years.

Here are 15 things about business the books are missing.

a 🧵:

** Be someone people want to work for

Many CEOs were seen as hard by outsiders.

But they all had loyal employees that loved them.

Jerks get ahead in the short term.

But bosses that employees love do win in the end.

** CEO is a lonely job

The CEO is “friendly” with their reports.

But never “friends" or peers.

You’re their boss.

So, the job is lonely.

Two things you can do:

- Join a CEO peer group
- Have a life outside of work.

Read 17 tweets

Michael Girdley

@girdley

Jan 31

DM me your biggest "L" and I'll anonymously post it here.

"Biggest investing L -

Having a bitcoin mining installed and ready to go in 2010 and not turning it on because computers were crashing and locking up. I wanted to save my new computer I just purchased."

"O god, want to talk about Ls?

How about buying 1800 Gamestop in August 2019 for $3.88 a piece and selling for $4.29 a piece a month later thinking it was a win.

Also buying 2 bitcoins in 2013 for $800 a piece and selling for $1200 a piece..."

Read 44 tweets

Michael Girdley

@girdley

Jan 29

@acquanon

On our podcast @acquanon, we see this often:

A retiring person owns a business worth $750k.

But they used that business years ago to own real estate now worth $5mm.

This is how to set it up. 🧵

It's called the "OpCo / PropCo" structure...

Your business is the Operating Corporation (the "OpCo").

You buy the real estate via a "Property Corporation" you create.

OpCo rents your business real estate from PropCo.

Why this way?

IRS Sec1202/QSBS means that you often want your new OpCo to be a C-Corp if you think you'll someday sell.

(If you don't know QSBS, it says you, as an investor of a C-Corp, get the first $10mm or 10x capital gains tax-free at the sale.)

Read 18 tweets

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