The Pre-Read
What to know before the meetingLong business memos with every number sourced beside it, and a short test at the end of each.

A profitable company can still fail a buyer’s test

McKinsey estimates 92% of US small-business exits in 2022 were closures, yet few were avoidable. This memo sizes the narrow band that was and sets out what a serious buyer will ask first.

8 min read

Brick storefronts along a quiet main street on an overcast winter day
AI budgets are running ahead of the receipts
A familiar voice can no longer approve a payment