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Delegate

July 31, 2026

"A leader is best when people barely know he exists. When his work is done, his aim fulfilled, they will say: we did it ourselves." — Lao Tzu

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The single greatest threat to transferable value is an owner who is irreplaceable. If the customers, relationships, and key decisions all flow through one person, a buyer isn't acquiring a business — they're acquiring a dependency. The owner who has built a team that runs without them has quietly created one of the most valuable things a company can offer. 

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