Ep 59 - Project Black Bear

We always think high growth is the golden ticket. Sure, rapid expansion can be sweet, but have you ever wondered if there's such a thing as too much growth? When should you hit the brakes and focus on other priorities, especially if selling your company is in the cards?

Paul and Patrick dive into the intricate world of cognitive biases, drawing insights from Daniel Kahneman's book, Thinking, Fast and Slow. The duo dissected the concept of representativeness bias, which can lead us to make flawed assumptions based on surface-level similarities. Think about it: How often do we catch ourselves falling into this trap in our day-to-day decision-making? Can we truly overcome this bias, or is it wired into our brains?

Paul is getting on the road to double-keynote this year's AZPPO Great Western Conference. But first, Paul takes on a FRAXN client's question, beginning with the vital need to keep partnership agreements and valuations current. Surely, you’ve considered the potential chaos if your business partner suddenly left the picture. Updating your operating agreement can smooth out what would make for a rough ride. When was the last time you revisited your partnership paperwork?