Matt Howitt @mhowitt
Entrepreneur/CEO/Founder. Sold Profound Commerce in February 2024. Now building my next company Mindful. Tweets about business, leadership and real estate. Austin, TX Joined January 2009-
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Hey entrepreneurs -- Just because you can dream it up and put it on a slide in a pitch deck, doesn't mean it should actually be there. More is not better, it's just more. Very often less is more. Simple wins.
There are many version of this idea but my favorite (as a long-time corporate warrior) is from Douglas Hubbard: “Never attribute to malice or stupidity that which can be explained by moderately rational individuals following incentives in a complex system.”
The high road is always the best road, but sometimes it’s very hard to take. I don’t always succeed.
Have mentioned common knowledge here before. Huge fan of the concept and how it drives employee behavior and decision making at the company. What do we know that every else knows and that they know we know? How do we bring up the tide level so all boats rise?
Agree strongly with this take re: we can all win together.
Agree strongly with this take re: we can all win together.
You gotta know when to hold 'em. You gotta know when to fold 'em.
One of my favorite sayings around the office: "Let's talk about real shit, not bullshit." Just perfectly frames my mindset of getting things done and getting results.
Transparency breeds trust. Repeated and frequent transparency breeds a very high level of trust. Ask me how I know…
How important is the “have a beer” test? Should everyone at your company be someone you want to have a beer with? I see arguments for both sides.
Recipe for leadership success: Empathy, inversion and the golden rule. News flash: they are all kinda the same thing!
The closing call is an archaic construct in the electronic world. My most recent ones (including one yesterday) are very anticlimactic. "Are we done?" "I think we're done." "What about this thing?" "That doesn't matter." "OK, we're done then?" "I think so." "Congrats all."…
Sometimes you have to have some seemingly inefficient meetings to ensure that there is proper common knowledge and alignment. This is an investment rather than an expense. If done correctly, it pays off down the road.
Telling someone to “break a leg” before a show or performance is bizarre. Can we just agree telling someone “good luck” doesn’t cause bad things to happen?
Meetings can be inefficient and ineffective. Happens. Rather than freak, way more important to make the next meeting more efficient. In this sitch, take 5 at the end to regroup: did this meet our expectations? No? Let's do better next time! Who needs to do what differently? Etc.
Figure out the few metrics that matter to assess a deal. Example from build-to-sell real estate: land cost, construction cost per sq ft, exit price per sq ft. Other things matter (f.x. what it's like to work with the city), but these 3 matter most.
Classic trap of senior management astronauts (those "up in the stratosphere"): the company is not a spreadsheet. If you treat it exclusively as such, the air gets pretty thin.
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Bad news, Team. 98 people had enough extra $ to rent units from my overpriced, podunk, tertiary market self-storage facility in April and only 7 of 654 customers are delinquent on rent (2 of which are most likely deceased). Interest rates are not decreasing soon, I’m…
Storage is dead, they said. I don’t know, man. April is looking pretty good over here. 80 move-ins at this prop. Occupancy up from 73% in Feb to 83% now. Coolest part of the turnaround of this property so far (backstory in next post, if you’re new here): Learned this weekend…
Getting an M&A deal done is an endurance battle. Removing obstacles until closing is the only possible outcome. They are never done until they are done
Toured a new market in TX last week with @jakecarlile2 and his partner. @mhowitt are looking to do a co-GP deal to build two duplexes at 2,350 sq. ft. each. Purchasing each lot for $40k Building for $143.61 psf Exit at $181 - $191 psf Super talented dev partners LFG 🚀
@mhowitt Thank you! Really putting my efforts into acquiring and maintaining new business! Seems to be paying off right now!
@mhowitt We are definitely on the same page on that. Simplicity, clarity, and fairness should be the goal of every contract. If I can scrub the client details, I'll send you a copy of this one. It's horrifying.
Another beautiful day! Driveways being prepped and poured later. Trim going in and cabinet / final on 2 others. What are you working on today?
@mhowitt Thanks! Some similar ones pending at $440k so we’ll see where we end up
Critical milestones during a new build: 1. approved form survey Verifying your foundation will be in the right spot 2. passing the framing + insulation inspection Sheetrock time (down hill from there) 3. utilities connected Extended delays can happen before this point…
Both slabs poured. Framers scheduled to start tomorrow!
OK I just flew back to Austin. And while I was in the airport, I ran into the red velvet team busy putting up an installation for one of their clients for South by Southwest. It’s just very cool and very proud of these guys.
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You must do everything you say you are going to do for your people when you say you are going to do it. If you say you’ll call tomorrow, you must.
@austin_rief Ive gone from six figures to 7 to 8 to 9. My 2 cents. After you have a nice place, bills paid and a few million... Theres nothing you can do to actually improve things by much margin. 3 Examples : A) Say I have a nice house, make more and then buy a bigger house...What does…
@michaelpatron0 Debt will turn a good business into dust
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