Andrew Ettinger

PE - Insights from "Constellation Software" Shareholder Letters Some of the key investment takeaways Constellation Software (CNSWF - https://buff.ly/3Coo3V8 ) These highlight a strategic focus on long-term growth, disciplined investment practices, and the importance of governance and engagement, all good insights for tech PE: - Disciplined Investment Approach: strict adherence to specific acquisition hurdle rates, reducing risk and underscoring the importance of rigorous investment criteria - Acquisition-Focused Growth: they target 100 acquisitions annually, underscoring an aggressive portfolio expansion strategy attractive for growth-oriented investors - Flexible Capital Structure: exploring various financing options for acquisitions, especially in downturns highlighting proactive financial health management - Long-Term Horizon: emphasis on indefinite investment holds to maximize returns, favoring long-term strategies over short-term gains - Post-Acquisition Reviews: they conduct detailed after action reviews (AARs) post-acquisition to refine investment strategy, a best practice for continuous improvement - Decentralized Decision-Making: Constellation operates with small, autonomous business units (just like portfolio CEOs & execs) to foster agile leadership and decisions (i.e. the PE firm doesn't tell the CEO what to do but works alongside collaboratively) - Behavioral Economics: Constellation incorporates insights from behavioral economics to mitigate cognitive biases, enhancing decision-making rigor Constellation Shareholder Letters: https://buff.ly/4fu29Pc ------------------ #pe #privateequity #tech #ceo #cro #saas #gtm #growth #middlemarket #boardofdirectors #board #revenue #revenuegrowth #investing #investment #finance #business

14

3 Comments

Talent acq is uniquely suited for a fractional model (vs roles like eng/mktg). I wrote about why: https://lnkd.in/dkHhNUf6

19

1 Comment

One of the things we see quite often at Grit Capital Partners, is a newly minted CEO. We see a big difference in the transition to CEO based upon the historical lane the CEO is coming from. There are different new muscles if you are coming from Product, Engineering, Finance, etc. In this article, we go deep on the CRO to CEO transition, which includes some thoughts from Rosie O'Meara, a particularly fine example of someone who has made the transition quite well. What were your biggest transition moments? https://lnkd.in/eEB-K2ZU

79

6 Comments

Key Metrics for Evaluating Executive Performance Excited to share my latest article, "Key Metrics for Evaluating Executive Performance." Discover the essential metrics that boards and stakeholders should consider to ensure effective leadership and strategic alignment. A must-read for anyone involved in executive assessment and board advisory! #ExecutivePerformance #LeadershipEvaluation #BoardAdvisory #OrganizationalSuccess #MartinRowinski #BoardAdvisory #ExecutiveAssessment #ExecutivePerformance #KeyMetrics #leadershipeffectiveness #LeadershipEvaluation #martinrowinski #organizationalsuccess #PerformanceMetrics #StrategicAlignment

9

Embracing the full capabilities of AI into your workflow has the ability to increase efficiency and enable the rapid scaling of both projects and headcount. #AI #highercommunity #talentacquisition

9

🎭 𝗖𝘂𝗹𝘁𝘂𝗿𝗲 𝗮𝗻𝗱 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗮𝗿𝗲 𝘁𝗵𝗲 𝘁𝗼𝗽 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 𝘄𝗵𝘆 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗮𝗿𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗹𝗲𝗮𝘃𝗲 𝘁𝗵𝗲𝗶𝗿 𝗿𝗼𝗹𝗲𝘀! Henry Draper from Albany Partners shared a number of great insights from their 2024 CTO Compensation Report at this week's CTO Craft Con in London (link to video in comments) I frequently write about company culture specifically its impact on technology teams and unsurprisingly I was drawn to the data below. 41% 𝗼𝗳 𝗲𝗻𝗴𝗶𝗻𝗲𝗲𝗿𝗶𝗻𝗴 𝗹𝗲𝗮𝗱𝗲𝗿𝘀 𝗮𝗿𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗹𝗲𝗮𝘃𝗲 𝘁𝗵𝗲𝗶𝗿 𝗿𝗼𝗹𝗲 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗺𝗮𝗶𝗻 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 𝗯𝗲𝗶𝗻𝗴 𝗹𝗮𝗰𝗸 𝗼𝗳 𝗳𝗮𝗶𝘁𝗵 𝗶𝗻 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗮𝗻𝗱 𝗰𝘂𝗹𝘁𝘂𝗿𝗲. (𝗦𝗮𝗺𝗽𝗹𝗲 𝘀𝗶𝘇𝗲 𝘄𝗮𝘀 520) 👑 𝗖𝘂𝗹𝘁𝘂𝗿𝗲 𝗶𝘀 𝗸𝗶𝗻𝗴 The culture of a company is often a bi-product of its leadership. So, it is not a surprise there is a correlation between leadership and culture, solving these issues will: 🔁 reduce your churn ⬇️ reduce re-hiring costs ⏳ reduce delays to delivering value to your customers I would point out that "poor line management" was also identified as a separate factor which is also a leadership trait. Other top reasons for looking to find a new role included: 📈 Company Performance 🚀 Purpose / Mission 💰 Compensation What are your thoughts on the data below? Share your thoughts in the comments below👇🏽 #technology #culture #compensation #leadership #hiring #retention

12

1 Comment

Further to my last post, PitchBook’s data show that in aggregate the largest seven PEs deployed more than $120B in debt versus just over $11B in equity. For viable companies in need of growth capital, non-dilutive debt is a viable option. https://lnkd.in/gkTV7rM9

5

Watch the replay of our latest webinar, "The Role of AI in Cultivating Tomorrow's Leaders." Josh Bersin, founder and CEO of The Josh Bersin Company, shares insights on Heidrick Navigator and the power of leveraging a leadership intelligence platform to manage and create robust pipelines for senior leaders, paving the way for unparalleled growth and success: https://bit.ly/3JfTUYg.​ Josh Bersin Academy #HeidrickNavigator #Leadership #FutureLeaders #AI ​

20

Glenmede Joins SUBSCRIBE to Digitally Transform and Centralize Alternative Investment Workflows #esubdocs We are proud to announce that The Glenmede Trust Company, N.A. (“Glenmede”), one of the nation’s leading investment and wealth management firms, overseeing $45.5 billion of assets under management, has joined SUBSCRIBE to enable digital onboarding and subscription document workflows for their clients who invest in private market funds. The implementation will help the firm consolidate alternative investment products, processes, and data onto a robust alts operating system. “Glenmede’s commitment to digitalization of our private markets program is significant, and this partnership is a testament to our strategic vision to provide our clients with unparalleled efficiency,” said Brian Smeddy, CFP®, Director of Investment Management Solutions at Glenmede. “Through the integration of SUBSCRIBE, we aim to redefine industry workflow standards and empower our clients with enhanced capabilities to navigate the operational complexities of private funds with ease.” “The SUBSCRIBE operating system for alternative investments reduces the manual burden of managing an institutional private markets program,” said Rafay Farooqui, Founder and CEO of SUBSCRIBE. “Since 2015, our state-of-the-art technology has been an industry leader helping organizations digitally transform and gain control over their alternative investments. We are further excited by the growing adoption of our unified alternative investments solution within the Bank & Trust segment of the industry.” Read More: https://lnkd.in/en9ppp3p Alexander L. Woodson #alternativeinvestments #wealthmanagement #financialadvisors #OCIO #digitaltransformation #fintech #privatemarkets #privateequity #bankandtrusts

39

Michael Greenberg Huge Thank you for sharing your knowledge on the pod. Founder and Chief Architect of 3rd Brain Co. We are streaming in 50 countries with over 50k Streams. 📊 We are aiming for 1 Million Streams by the end of 2025 🎉 🔗With a decade experience and a proven track record of success across industries, Michael has become the go-to expert for entrepreneurs looking to optimize their workflows, teams, and tools. His expertise in AI is particularly noteworthy, as he has developed solutions for integrating AI into business workflows, from automating content creation to building sophisticated logic routers for project management. 📌For businesses and companies who are already at the level of automation, Ai can help your team create more effective solutions instead of spending time on small tasks, implementing a simple change to save time might just work for you. Listen to our latest Podcast Episode where we share knowledge and insights of the latest technology, business ideas, marketing and more. #ai #solution #automation #podcast #release

9

7 Comments

🚨AI distruption will create a generational shift in SaaS balance sheet performance. It requires hyper agility and decisive vendor strategy across key areas of pricing, customer retention, AI roadmap, obsolescence, and field enablement to sustain investor growth and valuations in 2025 ☎️ Contact Mission Intelligence or DM to explore strategy, growth execution and future valuation methodology #PrivateEquity #TechnologyStrategy #AI #DigitalTransformation #MissionIntelligence #Valuation #GrowthStrategy #PortfolioOptimization

11

At Vanilla, we ❤️ listening to customers and building solutions that deliver value to advisors, planners, attorneys, and their clients. Client onboarding is an area that we’ve iterated on in the last several months. Earlier in the year, we launched Collaborative Onboarding, allowing advisors and planners to invite clients to enter all or parts of their profile in a rich, visual, and intuitive way. Last week, we launched Estate Health Check 🩺, which is a short (<5 mins) survey that lets an advisor quickly triage and have an initial client conversation. Both of these are powerful tools in a suite of onboarding capabilities that we offer. And we have some cool ideas 💡on how to continue to delight customers which we’ll share in the coming months. Stay up to date on product updates and other material at our blog at https://lnkd.in/gjrzE9AK.

68

If you enjoyed our first blog on the metrics that matter for Verticalized SaaS then don't miss on the Part II of the series where my colleagues Devraj Hom Roy and Matt Schaar discuss the strategic and operational choices to improve these operational indicators. https://lnkd.in/g5QkCrcH

15

1 Comment

Founder and General Partner at Floodgate Mike Maples, Jr is an 8x Midas List investor. In our conversation, we dive into his latest book, "Pattern Breakers: Why Some Startups Change The Future." Mike shares his frameworks on how top startups beat incumbents by redefining categories, and he reflects on his worst and best decisions. We also discuss what the future of venture capital may look like over the next decade - here are a few favorite takeaways on what makes outstanding startups from one of the industry's most influential names. → The Best Startups Focus on TFM > TAM Mike points out the huge difference between the Total Addressable Market (TAM) and the Total Future Market (TFM). Successful products often create new categories and become the category king, starting with a low TAM but leveraging powerful inflections to achieve a high future TAM. → "Force a choice, not a comparison" If everybody's an apple, don't be a 10 times better apple, be the world's first banana. Not everyone will be interested, but those who do will be thrilled to find you. Successful startups often embody this unique energy from the start. For example, people didn't buy the original Tesla Roadster for its utility value compared to another car; they bought it for aesthetic reasons and may have believed in Elon Musk's compelling vision of a sustainable future. Successful startups often embody this principle, attracting a passionate niche audience by offering something fundamentally different rather than just an improved version of an existing product. → The Best Startups Use Backcasting There are two ways to look at the future: forecasting and backcasting. Forecasting projects the present forward, suggesting the future will be a continuation of the present. This mindset gives incumbents an advantage because they've defined the rules of the present. Backcasting, however, starts with the assumption of a radically different future and you work backwards from that vision to create it. Great startups use backcasting, as imagining a radically new future helps bypass current market leaders. Full episode: https://lnkd.in/dw66jYib

54

7 Comments

Jamie Dimon shares the top 10 tips for success.   Jamie Dimon has been CEO of JP Morgan Chase since 2006. MBA from Harward Business School. His wealth of experience consists of working with BCG, American Express, Bank One, Smith Barney and others. He shares 10 tips for Success... 1️⃣ 0️⃣ Embrace continuous learning. 📖 Be a continuous learner and have endless intellectual curiosity. I still spend 50% of my time learning and reading. 9️⃣ Cultivate resilience. 🏃‍♂️ It is vital to learn from failure. Under his leadership, JP Morgan overcame the worst recession. The future is brighter but you will face tough times and failures. How you deal with failure is most important to succeed. 8️⃣ Lead by example. 🗽 7️⃣ Access risk carefully. 📈 Success is always outside the comfort zone. Managers should focus on employees who are the right fit. 6️⃣ Never stop innovating. 👩‍💻 Innovation drives progress and keeps you ahead of the competition. 200 people at JP Morgan Chase are researching Large Language models. Fostering innovation brings creativity, experimentation and new ideas. 5️⃣ . Focus on Long Term Goals. 🥅 The future of the economy depends on the willingness of people to put in effort. 4️⃣ Take control of your life. 🎮 Don’t let others write your book about your life. 3️⃣ Be prepared for tough times. ⌛ He advised his team, that for war to start, he needed his army to fight. Tough times will happen, it happens how we react. 2️⃣ Live deliberately. ❤️ 1️⃣ Family first. 👨‍👩‍👧‍👦 JP Morgan has family-friendly programs, 16 weeks of paid parental leaves and much more Best Wishes ! #iima #Ceo #founders #family #resilience #live #deliberately #success #toughtimes #longtermgoals #jamiedimon #controloflife #Innovation #lifelonglearning #leadership #leadershipdevelopment #sharingsuccessprinciples #BCG #JPMORGANCHASE

27

🚀 Exclusive Event: Inside the Mind of a Top VC - Jeff Epstein, Operating Partner at Bessemer Venture Partners Are you ready to unlock the secrets of what investors *really* want? Don't miss this game-changing opportunity! Join us for an electrifying evening with Jeff Epstein, Operating Partner at Bessemer Venture Partners, one of the world's most successful venture capital firms. With his current role at the forefront of VC decision-making, Jeff brings unparalleled insights into the investment landscape. 🗓️ Date: 10/24/24 🕒 Time: 6:30pm 📍 Location: Palo Alto Why attend? - Gain insider knowledge on what top VCs look for in startups - Learn how to make your pitch irresistible to investors - Network with fellow entrepreneurs and industry leaders - Q&A session: Get your burning questions answered by Jeff himself! Jeff's impressive background includes: - Current role: Operating Partner at Bessemer Venture Partners - Former CFO of Oracle - Board member of Kaiser Permanente, Twilio, and Poshmark - Decades of experience in tech, finance, and venture capital As an Operating Partner at Bessemer, Jeff is at the cutting edge of investment trends and startup evaluation. This is your chance to learn directly from a key player in one of the most influential VC firms. Seats are limited, and they're filling up fast! Don't let this chance slip through your fingers. 🎟️ Reserve your spot now: https://lnkd.in/gKFEN4gP #VentureCapital #StartupFunding #EntrepreneurshipTips #BessemerVentures

4

As LLMs start trending towards commoditization, a pressing question becomes important – how can companies in the recruiting space use AI to maintain a competitive edge? Although we are seeing some strong indications that AI and specifically LLMs trend towards commoditization across all industries, there are specific scenarios where technological differentiation is possible. 🚩 Proprietary data In a world where everyone can access the same models with a few clicks, the value lies in proprietary data and not prompt engineering. Proprietary data has strategic applications in generative AI. It can be used for fine-tuning, retrieval-augmented generation (RAG), and additional prompt input. Taking this further to the recruiting industry, the value will come from unique data and from owning quality data that is diverse, relevant, and collected in an ethical, AI-policy & privacy-compliant way. Generally, I wouldn’t say I like writing about AI ethics, but in this case, I think it is worth talking about. The AI policies and the dynamics around their enforcement will only continue evolving. In the context of HR tech, where sensitive personal information is involved, how data is processed, interpreted, and utilized might be as crucial as owning exclusive data sets. Preparing for a future landscape where the legal integrity of data will be challenged a lot more often will help companies adapt to legal changes more swiftly. Are there other differentiation factors? 💡 Well, there is UX. Objectively, AI-powered products in all industries might require different UX or even devices from what we are used to today. There is undoubtedly some edge here, but considering the data collection path, it is much easier first. In conclusion, HR Tech companies looking to build a competitive edge using generative AI can leverage proprietary data ethically, enhance user experience, and stay ahead of regulatory changes.

5

2 Comments

📈💪 Episode 26: Leading with "Super Habits" - Insights from Andrew Abela In this thought-provoking episode of Kind Leader Podcast, I’m joined by Andrew, founding dean of the Busch School of Business at Catholic University and author of Super Habits: The Universal Systems for a Successful Life. Andrew shares his journey into kind leadership, explaining how foundational "super habits" can elevate both personal and professional success. Key Insights: > Leading with Love: Andrew redefines leadership as an act of love—an intention and habit of doing what’s genuinely good for others. > Super Habits for Excellence: Learn how small, consistent habits can unlock happiness, health, and productivity, benefiting all areas of life. > Forgiveness as a Leadership Tool: Leaders who practice forgiveness foster safe, innovative environments where people feel empowered to share ideas and even bring bad news. > Gentle Firmness: The concept of "gentle firmness" balances empathy with decisiveness, creating effective and kind leaders. > Growth Mindset & Neuroplasticity: Andrew emphasizes that growth is possible at any age with the right mindset and consistency. 🎧 Tune in to explore how Andrew’s insights on habit formation and kind leadership can create thriving workplaces and lives. 🔗 https://lnkd.in/eXvQSsWi 📖 Link to Super Habits book on Amazon: https://a.co/d/8ZPihH5 📱 Try the Super Habits app: https://superhabits.link/ #KindLeadership #SuperHabits #LeadershipGrowth #ForgivenessInLeadership #MindsetMatters #BusinessPodcast Bravo Consulting Group, LLC

15

1 Comment