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#139 - Interview with Justin Turner, Partner at Traction Capital Partners
I'm trying out a new format for the newsletter that is more digestable, more focused, and more streamlined. Your feedback would be most appreciated! Also, I have some updates coming soon on my search for a partner with the Circle of Competence newsletter and podcast. Stay tuned!
1 QUOTE
I. On patience and selectivity:
"Business opportunities are like buses, there's always another one coming." – Richard Branson
2 THOUGHTS
This week I interviewed Justin Turner, Partner at Traction Capital Partners. We discussed his journey building Traction and did a deep dive on the first two companies that Traction purchased. The two biggest takeaways from our conversation were twofold.
I. Small businesses are small for a reason. Delegation, hiring, management, retaining complete control, and growth risk are all fears that first generation owners have to conquer before scaling a business. Some choose to stay small for a reason. This is your opportunity. (Share on Twitter)
II. Growth is risky. A company can spend a TON of money upfront outfitting sales teams and building out a presence in a new market, only to enter the wrong market. Table selection is just as important as execution. (Share on Twitter)
3 LINKS
I. The state of micro private equity (The Generalist)
II. Covid-19 trends: looking past first-order effects (Trends.co)
III. 2020 Review and 2021 Outlook + Predictions (Next Play Capital)
If you're looking for more links and reading, check out the rest of my reading list here.
Have a great week!
- Benton