1/ The hardest thing about my job is watching as one of our companies pursues the wrong strategy ♟

At Tiny, unless a CEO is making a fatal error or mistreating people, we don’t intervene https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤐" title="„Schweigen ist Gold“-Gesicht" aria-label="Emoji: „Schweigen ist Gold“-Gesicht">

We speak up, but we almost always “disagree but commit” and let them decide what to do.

2/ It’s a Catch 22... https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤷🏼‍♂️" title="Achselzuckender Mann (mittelheller Hautton)" aria-label="Emoji: Achselzuckender Mann (mittelheller Hautton)">

- Let the CEO pursue a harebrained strategy and it can waste years, lose ground, and destroy value. But they learn https://abs.twimg.com/emoji/v2/... draggable="false" alt="🐰" title="Hasengesicht" aria-label="Emoji: Hasengesicht">

- Block the dumb strategy and we may avoid a lot of pain, but the CEO resents us. They feel controlled and held back https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤬" title="Gesicht mit Symbolen über dem Mund" aria-label="Emoji: Gesicht mit Symbolen über dem Mund">

3/ Suddenly we are the reason why the company isn’t bigger. We didn’t let them execute. They have an excuse https://abs.twimg.com/emoji/v2/... draggable="false" alt="📉" title="Tabelle mit Abwärtstrend" aria-label="Emoji: Tabelle mit Abwärtstrend">

As a result, we try to buy businesses that are so good that they can withstand a few harebrained ideas https://abs.twimg.com/emoji/v2/... draggable="false" alt="🏰" title="Europäisches Schloss" aria-label="Emoji: Europäisches Schloss">

That has saved us a lot of pain, but always challenging.