Notes on operating, finance, and applied AI.
Short, practical writing from the field — drawn from active engagements with founder-led and private equity-backed companies.
- Jul 2, 2026
Why working capital matters more than revenue
Two businesses. Both $50M revenue. Both 15% EBITDA. Identical P&Ls. One is flush with cash. The other is one covenant breach away from a crisis. The difference is working capital.
Executive Advisory - Jun 30, 2026
The EBITDA improvement map: 7 levers that actually move the number
Every PE deck has an 'EBITDA Improvement Plan' slide. Most are wrong about where the money comes from. Here are the 7 levers — ranked by what actually moves the number in middle-market businesses.
Executive Advisory - Jun 28, 2026
The 100-day trap in PE holds: a structural problem
The first 100 days after close are the highest-leverage window in a PE hold. Most firms spend them stuck between four bad options.
Executive Advisory - Jun 24, 2026
PE value creation now requires 12% EBITDA growth. The infrastructure hasn't caught up.
A decade ago, 2.5x returns required 5% annual EBITDA growth. Today it takes 12%. Same target, same hold period, completely different math.
Executive Advisory - Jun 10, 2026
Speed-to-lead is the cheapest AI win for small businesses
Most small businesses lose deals not on price or product, but on response time. AI changes the math.
AI Services - May 22, 2026
What a fractional CFO actually does in the first 90 days
Not a bookkeeper. Not a controller. Here is the operating cadence a fractional CFO installs in the first quarter.
Executive Advisory - Mar 4, 2026
The evolving PE-backed CFO skill stack
53% of PE firms now prioritize AI and digital in CFO searches. Three years ago, that number was basically zero. The job description changed.
Executive Advisory
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