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Continue reading →: How to Source and Screen Acquisition Targets for ETAOnly 57% of searchers ever close a deal, and the gap between the buyers who acquire and the buyers who stall comes down to two disciplines: sourcing volume and ruthless screening. I screened hundreds of deals a year as a Partner at NCT Ventures and have evaluated thousands of business…
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Continue reading →: Illiquidity Risk in Angel Investing: What It CostsPrivate markets can pay you an extra 2 to 5 points a year, and the toll is capital you cannot touch for a decade. Here is how to size, structure, and survive the lock-up. Before we begin, it’s important to remember one thing… cash is king. I have written a…
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Continue reading →: 15 Red Flags in Startup Pitches Angel Investors MissMost bad angel investments announce themselves in the first meeting, if you know which patterns to look for. I’ve written more than 50 angel checks, and every one of my worst outcomes waved at least one of these red flags during the original pitch. I saw them, then talked myself…
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Continue reading →: How Big Is the U.S. Book Publishing Industry?The U.S. book publishing industry generated $32.5 billion in 2024, and the fastest-growing format is one you listen to instead of read. With four kids at home, I have personally financed a measurable share of Dav Pilkey’s print run. It turns out our overflowing bookshelf is a decent proxy for…
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Continue reading →: Business Failure Rates by Industry: The Riskiest and Safest Sectors for New Businesses in 2026Federal data shows 22.1% of new U.S. businesses fail within one year, but industry choice can more than quadruple your first-year risk, from 6.9% in agriculture to 30.8% in mining and oil and gas. The U.S. Bureau of Labor Statistics tracks every new employer business through its Business Employment Dynamics…
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Continue reading →: Financial Literacy for Business Owners: Why It Pays in 2026Business owners who know their numbers are nearly twice as likely to get financing approved, while the ones who don’t pay for the gap in six figures. Cash flow problems play a role in 82% of small business failures, according to a widely cited U.S. Bank study. The scarier number…
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Continue reading →: Debt vs. Equity Financing: How to Choose the Right Capital for Your BusinessDebt keeps your ownership and adds a fixed monthly bill. Equity removes the bill and takes a permanent slice of your company. The right call comes down to your cash flow, your stage, and how much control you will trade for speed. The cost of borrowing is the first number…
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Continue reading →: The Economics of July 4th: A 2026 Small Business GuideAmericans will spend more than $15 billion celebrating Independence Day in 2026, and the operators who plan inventory, cash flow, and margins ahead of the spike capture the biggest share. I run a consumer products company that imports most of its inventory, so I read tariff headlines the way some…
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Continue reading →: Screen Time by Age in 2026: How Much Are We Spending?Daily screen use peaks at almost nine hours in the late teens before falling with age, and the gap between generations is wider than most parents realize. The average American adult spends roughly seven hours a day looking at a screen. Teenagers spend eight hours and 39 minutes. Those are…
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Continue reading →: EBITDA Add-Backs: What Buyers Accept (and Reject) in 2026A single add-back can swing your sale price by millions, but only if it survives the buyer’s quality of earnings review. A $500,000 add-back on a business that sells for six times EBITDA moves the enterprise value by $3 million. That is not a rounding error. It is the gap…
