Graham Weaver

They have a clock ticking. So there's a lot of stuff wrong with that first part. And then the other thing that's kind of doesn't really work is they don't have really any support. They're like, yeah, you get the ball, good news, but you don't know what to do with the ball. So we're trying to say, hey, we have I think one of the greatest sourcing engines in private equity.

They have a clock ticking. So there's a lot of stuff wrong with that first part. And then the other thing that's kind of doesn't really work is they don't have really any support. They're like, yeah, you get the ball, good news, but you don't know what to do with the ball. So we're trying to say, hey, we have I think one of the greatest sourcing engines in private equity.

We're going to find phenomenal businesses. Plus, we're going to have a whole team that's going to help you evaluate the industry and make sure we're getting those right. We want you to play a winnable game. We want to give you a platform where you're going to win based on your talents and hiring and firing and all those things not missing on the industry.

We're going to find phenomenal businesses. Plus, we're going to have a whole team that's going to help you evaluate the industry and make sure we're getting those right. We want you to play a winnable game. We want to give you a platform where you're going to win based on your talents and hiring and firing and all those things not missing on the industry.

You're not going to figure that out when you're 28. We're very good at that part of the business. And then once they buy the business, we want to have, and we'll get into the training, we want to say, hey, look, we have 25 years of intellectual property of how to be a CEO, but not just how to be a CEO, how to be a 30-year-old CEO going into a really established business

You're not going to figure that out when you're 28. We're very good at that part of the business. And then once they buy the business, we want to have, and we'll get into the training, we want to say, hey, look, we have 25 years of intellectual property of how to be a CEO, but not just how to be a CEO, how to be a 30-year-old CEO going into a really established business

And getting that team on your team alongside you and going forward, that's the specific intellectual property that we have. And it's not super complicated, but we might as well start you off 25 years in year 26 rather than in year zero.

And getting that team on your team alongside you and going forward, that's the specific intellectual property that we have. And it's not super complicated, but we might as well start you off 25 years in year 26 rather than in year zero.

So where do you find these people? Where do they come from? How did that start? I'm sure it's much easier now. You've got a reputation like this can be a place you go do this thing. Yeah.

So where do you find these people? Where do they come from? How did that start? I'm sure it's much easier now. You've got a reputation like this can be a place you go do this thing. Yeah.

It was a very inauspicious start, Patrick. At the time we started the CEO and training process, I was a guest lecturer at Stanford Business School. And I would meet with students for coffee and stuff. And the class I was a lecturer for, it was an entrepreneurship class. And so the students wanted to be a CEO. And they'd say, hey, how do I go do this? And search fund was an option.

It was a very inauspicious start, Patrick. At the time we started the CEO and training process, I was a guest lecturer at Stanford Business School. And I would meet with students for coffee and stuff. And the class I was a lecturer for, it was an entrepreneurship class. And so the students wanted to be a CEO. And they'd say, hey, how do I go do this? And search fund was an option.

They didn't like some of the elements I mentioned earlier. And so I didn't really have a good answer. So finally, one student, I said, hey, why don't you join us? We'll teach you how to be a CEO and we'll put you in one of our companies. That sounded great. So we hired this guy and we weren't going to put him in a CEO. We're going to put him in like CFO or COO in one of our companies.

They didn't like some of the elements I mentioned earlier. And so I didn't really have a good answer. So finally, one student, I said, hey, why don't you join us? We'll teach you how to be a CEO and we'll put you in one of our companies. That sounded great. So we hired this guy and we weren't going to put him in a CEO. We're going to put him in like CFO or COO in one of our companies.

We couldn't get anyone to hire him in our portfolio because they said, okay, let me get this straight, Graham. You've got someone who's got no experience, is a little bit entitled and super expensive. Like, how about no? So we couldn't get that first person place. He left. The next year we had this woman, Laura Walsh, and same thing.

We couldn't get anyone to hire him in our portfolio because they said, okay, let me get this straight, Graham. You've got someone who's got no experience, is a little bit entitled and super expensive. Like, how about no? So we couldn't get that first person place. He left. The next year we had this woman, Laura Walsh, and same thing.

But although this time I said to this particular CEO, I said, listen, hire her. And if she doesn't work out in a year, I'll reimburse you her salary from the management company. So like a money back guarantee. And she knocked it out of the park. And he's like, I want three more. And then it kind of took off from there.

But although this time I said to this particular CEO, I said, listen, hire her. And if she doesn't work out in a year, I'll reimburse you her salary from the management company. So like a money back guarantee. And she knocked it out of the park. And he's like, I want three more. And then it kind of took off from there.

And when I say took off, then the next year we had two and the next year we had three. And It took a long time and it also took us a while to really figure out what kind of business they would be successful in and where their blind spots were and what they could do and not do. We made every mistake you could make, but thankfully we made that on smaller classes of CEOs.

And when I say took off, then the next year we had two and the next year we had three. And It took a long time and it also took us a while to really figure out what kind of business they would be successful in and where their blind spots were and what they could do and not do. We made every mistake you could make, but thankfully we made that on smaller classes of CEOs.