M&A
Example · Board of 3Should we acquire our smallest competitor for $4M to consolidate the segment?
Chief of staff
This one needs a board: The Strategist, The Investor and The CFO. The Strategist maps competitive dynamics and strategic options across multi-year horizons. Each researches alone first, then they react to one another — and on a decision, two of them take opposed sides.
The StrategistCompetitive Expert
The InvestorVC Partner
The CFOFinancial Controller

Asked first
Has a competitor already made this move?
Yes, one hasNot that I knowWe’d be first
The board’s call
Do not acquire at $4M cash.
Cash-heavy deals made over strong dissent tend to underperform — earnouts align incentives. Your team can only absorb one acquisition this year; do this one well or do none.

The CFO disagreed
“Their CTO is the deal — if they leave in month 6, you bought a brand”
Board of 3 · up to 135 credits on the card · an example, not a recorded run









