Culture Eats Strategy
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“In businesses, culture counts…. Cultures self-propagate. Winston Churchill once said, ‘You shape your houses and then they shape you.’ That wisdom applies to businesses as well…. Culture, more than rule books, determines how an organization behaves.” —Warren Buffett
Top 50 Microcap list - Maj Soueidan
We continue our series of the Top 50 Microcap Investors with Maj Soueidan. Maj is the President and Co-founder of GeoInvesting LLC with over 30 years of experience in microcap investing. Maj started his career while in college from 1988 to 1992, where he had his first hands-on investing experience.
Read our feature on Maj Soueidan here
CO/nversations Podcast
The CO/nversations Podcast is available for you to listen! Thank you to Joe Moglia for being our first podcast guest.
Success doesn’t come alone; it comes with others. Who influenced your life to shape you into the person you are today? What inspires and motivates you? Join hosts Mike Pruitt and Sam DiFiore as they share casual conversations with guests about success stories.
Tune into CO/nversations on Spotify. Coming soon to Apple Podcasts.
Culture Eats Strategy
As investors, we all look for competitive advantages. These often come in the form of economies of scale, barriers to entry, network effects, brands, or high switching costs, among others. But it’s important to remember that people build companies, and people create those advantages.
What is the best way to create an environment for people to built and create and modify and expand those advantages? Culture. It’s something that is hard to do, and even harder to change if a culture goes awry. But if done correctly, a culture can be the most significant and valuable advantage that a business can have over its competitors. As Christopher Begg, President and Chief Investment Officer at East Coast Asset Management once wrote in an investor letter:
“The only moat that is not fleeting, and conversely the only moat that is truly enduring, is culture.”
Peter Kaufman has built one of the world’s great company cultures in the private company he runs as Charmain and CEO, Glenair, Inc. Peter shared much of what he’s learned about culture in a talk and essay at Columbia University in 2015. That essay was private for several years, but just recently became available for all to read: Culture - by Peter D. Kaufman
While Kaufman’s essay is worth reading and re-reading, here are a few books for those wanting to dive deeper into the topic, including the last three which were recommended at the end of the essay:
Margin of Trust: The Berkshire Business Model
It's Your Ship: Management Techniques from the Best Damn Ship in the Navy
Plain Talk: Lessons from a Business Maverick
The Carolina Way: Leadership Lessons from a Life in Coaching
Culture Readings and Podcasts
Why Company Culture is So Important to Business Success
S.2 E.7 - Cultivating Resilient Leadership and a Robust Company Culture
How to Build an Authentic Culture from the Bottom-Up
“Dream, People, Culture”: Carlos Brito, CEO of Anheuser-Busch InBev
The Carroll Culture: “He Focuses On Your Purpose Beyond The Game”
How Performance Reviews Can Kill Your Culture
In Case You Missed It…
Medallion Bank Reports 2021 Second Quarter Results and Declares Series F Preferred Stock Dividend
UPDATE: Iconic Brands, Inc. Announces $40 Million Dollar Private Placement and Restructuring
Cambria Automobiles plc: Offer Update
Charge Enterprises July 2021 Shareholder Letter
Chris Krug from Chatham Harbor Capital on Performant $PFMT
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Thank you , really enjoyed this one