Chase Murdock
@chasemurdock
Followers
4,765
Following
1,020
Media
274
Statuses
2,932
Crafting an eclectic portfolio of long-term businesses at @DecadaGroup . Writer of Local Legends — Small Business, Big Impact 👇
Salt Lake City, USA
Joined January 2009
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
#GFRunTheWorldConcertD1
• 415418 Tweets
Napoli
• 136264 Tweets
Ticketmaster
• 64120 Tweets
KINGPOWER x PHUWIN
• 56251 Tweets
#خلصوا_صفقات_الهلال2
• 40445 Tweets
#PVL2024
• 39973 Tweets
Akari
• 30188 Tweets
Qoo10
• 29925 Tweets
DONBELLE DAOG SA DAVAO
• 24599 Tweets
ポケミク
• 20301 Tweets
#Oasis25
• 18732 Tweets
ポムの樹
• 18389 Tweets
PLDT
• 17696 Tweets
月ノ美兎
• 15966 Tweets
椎名唯華
• 15727 Tweets
YOSHIKI
• 12202 Tweets
#ドッキリGP
• 12155 Tweets
Last Seen Profiles
Pinned Tweet
Because we buy smaller companies at Decada, we often get ourselves into businesses that lack operating maturity. We have to go build it.
But as a small business holding company, if we buy too many companies with low operating maturity at one time, we’re in for a world of chaos.
Heard something super interesting and profound that I am implementing across our holdings.
@chasemurdock
was on a podcast a few months ago and discussed the (paraphrasing) 'Operating Maturity' of each business.
Each quarter he and his partner score each OpCo 1-5 on maturity
3
2
50
28
34
267
Man, the more I read about this so-called "Utah Lake Restoration Project" the less I like it.
Seems like a short-sighted $6.4B move with all the wrong motivations.
Here’s a quick thread of the situation if you aren't up to speed. 🧵 (1/15)
25
113
558
In 2022, 3,600,000 baby boomers retired.
Of those 3.6M...1.4M own small businesses.
Of those 1.4M, my team and I acquired 4 beautiful companies, and grew them each ~40% in 2022.
Here are my thoughts on small business and entrepreneurship:
9
17
202
My life project
@DecadaGroup
just turned 2 years old.
We’ve gone from a half baked idea…to a collection of 4 small businesses driving $8M+ in revenue across 40+ employees.
Here’s a peek into our story and some lessons learned from 2 years in the holding company trenches…
22
4
152
This week
@DecadaGroup
welcomed its 5th small business to the family.
Welcome to Tatton Baird Hatters, our fourth acquisition in two years. Tatton is one of the leading custom hat makers in the world, based out of Springville, Utah.
Here's a little on Tatton...
29
2
143
I recently spoke with 100+ holdco owners, operators, and entrepreneurs at HoldCoConf22.
Every conversation I had reinforced one big idea…
10
10
123
Bottom line: nice sounding names and sexy renderings/headlines for a proposal don’t always align with our state’s long-term interests.
We should follow the money and examine the incentives. I struggle to see how this proposal makes any sense for Utah.
/thread
9
6
115
100+ scientists immediately responded in protest, saying LRS lacks the ecological experience necessary to oversee such a project, and questioned the team's experience, writing them off as financially-motivated developers.
1
7
106
Yesterday marked Decada Group’s 3 year anniversary.
To celebrate, here are some reflections on our journey + a breakdown of our current playbook as an SMB holding company.
Decada’s 10 year vision is to build a $100M+ collection of diverse & eclectic small local businesses in
22
5
100
Thinking about the issue, I'm reminded of Utah's unfortunate reputation for falling victim to fast-talking investors.
Sadly, we lead the US in fraud and white collar crime. And we have more MLMs per capita than any other state:
1
7
98
Ben Abbott (
@thermokarst
) BYU’s ecology professor, has been vocal about his opposition to LRS and the promises they are making about the project.
LRS's response? They served him with a $3M defamation suit.
1
5
92
As our state grows there will be no shortage of short-sighted investors looking to capitalize on our greatest asset.
If we care about our long term prospects as a state, we shouldn’t start privatizing our lakes to the highest bidder.
1
4
81
Dr. Sam Rushforth, UVU’s College of Science Dean said:
"The 'restoration' of Utah Lake as presented by the developers is not possible. [It] would in effect destroy the ecology of the lake and potentially harm much of its watershed."
3
7
80
@DavidSacks
This is not a hard thing to communicate:
The definition of a recession is 2 Qs of negative GDP growth — so our economy is absolutely in recession.
At the same time, post-COVID growth put our economy on an unsustainable growth rate that we are having to level out from.
18
5
69
40 undah 40 🤙
So unreal — I'm very humbled and honored to be selected for the 40 Under 40 award by
@utahbusiness
.
Grateful for the oppty to evangelize our mission at Decada: stewarding businesses we’re lucky enough to acquire and taking them into a bold second chapter.
Thank
22
2
73
Some thoughts on why we acquire and build locally, only in Utah.
First, I don’t know that a local focus is the "optimal" strategy. I'm not sure that it is, and we just don’t think in that way — having no investors/LPs means we can do things our way, whether it’s
11
1
63
Make it a habit to surround yourself with great people.
This week, a group of 12 entrepreneurs and CEOs went off grid to summit Kilimanjaro — and it was an unforgettable experience.
Thank you
@ClintFiore
for bringing this one together.
9
1
65
Our skiing, trails, lakes, and wilderness are what have Utah positioned as one of the best places to live and work and one of the fastest growing states in the US.
This is our competitive edge. Our differentiator.
1
0
61
For those curious, here are the 8 pillars and our definitions.
8
2
57
This led to
@GovHerbert
signing a bill in 2018 to allow for transfer of land to private ownership if it accomplishes “comprehensive lake restoration.”
Makes sense, but that's broad language. Who decides what's restoration and what's a real estate development project?
1
1
55
We should know very well by now that what sounds too good to be true, oftentimes is.
1
1
50
@mttgrmm
This host went a little further — a fee for each infraction, like not putting the towels in the laundry room.
16
1
47
@Em_Means13
wrote a great piece on the debate earlier this year for
@KUER
, and
@RadioWest
has produced a start to a series on the issue.
At the root of the dialogue is a tension between incentives and interests.
1
4
42
Utah Lake is the region's largest fresh water lake. But it's shallow and at record lows due to our multi-decade drought.
It's on state land, and there’s real concern about how we fund the lake’s needs.
2
1
42
The project has a $6.4B price tag and includes dredging the lake to make it smaller and deeper and create private islands.
2
2
42
Got this from our lender today.
It's a minor mile marker, but damn, it's like shedding a weighted vest.
Stay the course -- wins are ahead. Happy Friday ✊
8
0
42
I’m legally blind. What someone with good vision sees at ~2000 ft is about what I see at 20 ft. I've worn glasses since Pre-K. Contacts since middle school. -14.0 prescription.
Today, I'm going in for corrective eye surgery.
13
0
40
Last day in Japan. Two weeks backpacking with my son — unforgettable and priceless.
Now back to SLC...to the work that makes these trips possible + meaningful. A trip to remember. Look forward to seeing some of you at SMBash next week.
6
0
41
Their renderings and headlines are attractive:
- 34 private islands
- Hundreds of beachfront properties
- 190 miles of new shoreline
- An island in the shape of UT’s iconic Delicate Arch 😳
2
1
38
Managed to slip away from the chaos to be in Italy together for 2 wks — driving through Tuscany, mostly unplugged from everything.
It’s been a grinder of 1.5 yrs: founding Decada, 3 acquisitions, and learning to work together + stay married 😜
Salute from Montepulciano🍷🤌
9
0
39
Decada hosted the management teams of each of our operating companies this week to review last year and discuss plans for 2023.
Last year we tripled in size — we’re now a portfolio of 50+ people across 5 diverse and wonderfully eclectic small businesses.
6
0
36
@buildingslc
This would be a perfect park-facing corner cafe. Would be a shame to have this be a gas station.
3
0
36
“Debt is a great way to jump in the game and punch above your weight. It’s a bet I would encourage others to make early on, and then…deleverage as quickly as possible.”
-
@XavierHelgesen
2
0
35
Been heads down for a few weeks but am resurfacing to share
@DecadaGroup
is under LOI on acquisition
#5
🤞
The biz is a tuck-in + RE in UT in luxury retail & eComm. Will share more as we progress thru diligence, but this one could be pretty fun.
Now to get to the finish line…
7
0
35
Hiring great people is always tough. Today it’s even harder.
In the past few weeks we’ve hired several people — and had to tighten our tactics to stay competitive.
Here are a few things we do to attract great people to come work for us. 🧵👇
2
4
34
6 months ago I had no idea there were so many people out there also pursuing small business buy & hold models.
Great to hop on an early morning Zoom with so many likeminded people. Thanks for convening
@grahammthompson
🙏
5
2
33
Wheels up, headed back to SLC after a great week at
@SMB_ash
.
Incredible to see so many smart people taking so many different approaches to the world of small business acquisitions.
👇
4
0
33
Lake Restoration Solutions LLC (LRS) was the first to jump on the new regulation.
They call it the Utah Lake Restoration Project, and it's essentially a quid pro quo: in exchange for capital/dredging the lake, they want to sell ~50% of the land for commercial + residential use
1
0
31
Good morning from the mountains of beautiful Quebec, Canada 🇨🇦
4
0
32
Hey
@HoldCoConf
will there be any sessions on how to better communicate to my mom what I do for a living?
2
1
30
Should go without saying:
If you're thinking about acquiring a business and taking on debt to do so, know your industry's recession behavior.
Due diligence goes beyond just the business.
If you can’t thoroughly articulate how your industry has behaved + is likely to behave
4
0
31
Every time I’ve tried to change someone, I’ve lost a lot of money.
1
2
31
Almost slipped past us but a milestone worth celebrating:
Tailor Cooperative, the business Adam and I started that eventually led to the creation of Decada Group, entered its 9th year a few days ago!
On the approach to a decade in business. ✊
4
0
31
Our lender is quoting prime + 2 on an SBA 7a term sheet, locked for 5 years.
Anyone have a sense if that’s really market right now?
14
0
28
Celebrating my birthday in Sun Valley today, a place that holds a special corner in my heart.
My birthday often coincides with Thanksgiving, infusing the weekend with an extra sense of gratitude. It's a time I deeply appreciate, reveling in the holiday spirit while experiencing
4
0
29
Some reflections from the week 💭
#1
) Thinking a lot about Chenmark’s framework of “bait and tackle” businesses:
“Just because something cannot scale does not mean it cannot earn outsized returns”
Doesn’t perfectly describe all our businesses, but resonates w what we call…
3
0
29
ETA Utah Amigos — it's that time again. And this one's sure to be our best yet.
ETA Utah Happy Hour:
Thu Feb. 16th, 7 - 9 PM
Hosted by Decada at Tailor Cooperative in downtown SLC
We're in for a treat — a few surprises up our sleeve for this one. Don't miss it. 😉
11
3
29
📍 Peddler’s Cafe
A well kept little secret in Eden, Utah.
5
1
29
Update: alive & kicking. Procedure went well. Already seeing great which is, once again, amazing. 🙏
In awe…and feeling a little loopy. Probably time to log off Twitter…
2
1
28
And we're back.
The next ETA Utah happy hour in Salt Lake City, hosted by Decada.
RSVP to join us:
0
4
27
7
0
27
Some reflections from the week 💭
#1
) A friend made a hard decision to sell his business this week, less than 8 months after he bought it…
9
0
26
A few weeks ago, I led a session at
@HoldCoConf
. The topic?
Unlocking the potential of niche businesses.
You've heard the phrase "riches in the niches." At Decada Group, we live it. We love these under-the-radar ventures.
Most advice tells entrepreneurs to target big markets
4
4
25
Last week,
@DecadaGroup
closed out Q1 — a famously challenging time of year for most of our operating companies.
We're grateful for our team's hard work — they each earned a big fat “W” and I’d like to celebrate and share some of the results. ✊
5
0
26
Good at: rolling up foundries.
Not good at: a casual game of pool
Welcome to SLC,
@RegZeller
.
5
0
25
Behind the mic!🎙Talking owning/acquiring/operating community asset businesses in SLC w/ our local chamber.
@DecadaGroup
1
0
24
Some campsite photos from the past week on Kilimanjaro.
3
0
24
2021 was Decada Group’s first full calendar year in operation. And it was a busy, decade-defining year.
We grew our portfolio from one small business to four:
Tailor Cooperative, Workshop SLC, Built By Design, and Northern Electric.
1/3
2
0
21
Without being too cryptic, someone pretty cool is coming into our custom suit shop in SLC for a fitting next week.
Celebrity, great following, team really looks up to them.
What do we do to make the experience extra special? We want to pull out all the stops.
18
0
22
Damn.
@MarcSGilbert
and I just spoke — amazing to connect w the exact right person so quickly on such a big decision 🙏
I’d like to pay it forward.
DMs open to any early searcher/operator wanting to chop it up on a call next week. Set aside a few hours. Reach out if I can help!
3
2
23
Decada Group’s third year has come to a close.
Our 2023 Annual Letter is now live, titled Wisdom Forged. Please enjoy.
12
2
23
Alright, wheels up to Cleveland.
Ready for the inaugural
@HoldCoConf
— the only conference I know just for holding companies.
Major props to
@kelceylehrich
and
@WilsonCompanies
for founding & convening. Excited to learn from the best in the business this week.
4
0
23
7 mile run, wife’s homemade chilaquiles, and some early AM forecasting work…and now heading out to mow the lawn. Then up the canyon tonight to escape the heat.
Happy Sunday y’all. 🙏
2
0
23
Emailed
@markbrooks
to discuss "the art of the operating partner" w/ Decada's ops team.
His response: "Let's jam, bruh. My calendar's your oyster"
Generous, smart dude — always impressed w/ our little corner of Twitter. High calibre. Ready to give back. Mark is top-notch.
3
0
22
As we've built Decada, my esteem for founders has only grown.
The journey of creating a business from scratch is near impossible and demands so much sacrifice.
The opportunity to purchase businesses from founders is a true privilege and I salute anyone who's gone from 0 to 1.
4
1
22
Permanent Equity has always been so impressive to me. Their clearly articulated values. The tone they set on what it means to be a good holding company / acquirer.
Emily Holdman, on stage at
@HoldCoConf
talking about what she calls “active patience”
0
0
22
Excited to accept a new role on the board of
@GREENbikeUtah
serving as its new Treasurer.
GREENbike is a special non-profit and community asset to SLC and the Wasatch Front.
5
3
22
Happy Sunday. What are your go-to email newsletters you read each issue w/o fail?
Here are my favorites. Drop yours?
Ultra Successful, by
@drgurner
Big Deal, Small Business by
@guessworkinvest
The Blueprint, by
@joshuamschultz
8
1
21
Good morning from Tamarindo.
It’s officially annual letter time.
5
0
21
Tomorrow.
Edison House. 7:30 PM.
ETA Utah Happy Hour.
75+ RSVPs — in quiet, little Utah. ✊
It's sure to be a memorable night. Look forward to seeing everyone in person.
And we're back.
The next ETA Utah happy hour in Salt Lake City, hosted by Decada.
RSVP to join us:
0
4
27
3
2
20
🚨 Launching this week...
Local Legends | Small Business, Big Impact. 🏆
My new newsletter — a focused exploration into the craft of building enduring small businesses.
It’s my space to share insights on constructing a business that's not just built for the short term, but
7
1
20
If we raised outside capital, JD would be one of our first calls.
Just received an unexpectedly early return of capital from a search investment
Looking to redeploy ASAP
If you have a great deal that needs capital and would like to work with an experienced and easygoing investor, my DMs are open!
5
3
56
2
0
20
One of my favorite things about a holding company model is seeing people from across our portfolio connect+build camaraderie & learn from one another.
So we launched
@DecadaGroup
’s Mentorship Program to facilitate more of that
It's still evolving but here’s how it works today🧵
4
1
19
We had to let a GM go today. Not fun. We really liked him personally and he was in his 3rd quarter w us and financially we were doing well. But there were too many balls dropped, processes not followed, and the business was playing defense, not offense... (cont)
4
0
19
I hope the thrill of delivering an LOI never goes away.
Happy Friday ✊
1
0
19
@DecadaGroup
@JustinNicholasT
@darylbstarr
@kelceylehrich
@WilsonCompanies
@BillDA
@chenholdco
@BrentBeshore
We want that seat, that table, and those businesses to be a reflection of the long-sighted decisions we make every day.
It’s these principles that will allow us to build in decades.
Hence - Decada Group.
2
0
19
In the journey of "company building" there are specific times, as unique as a single meeting or as expansive as the days spent sealing deals in the streets, that retroactively stand out as defining moments.
Sometimes these moments are so striking that when you look back years
4
0
19
Most attorneys excel at complexifying
What I loved about
@fortworthchris
’s interview w/
@SMB_Attorney
is how simply Eric broke down messy topics like negotiating working capital w/ a seller
It’s almost like he’s done this a few times. Awesome pod, guys
2
2
18
Sunday’s agenda: attempting to keep up with my son on the Park City trails on some skate skis.
Loved every minute of it. 👌
3
0
18
Great to see so many from Twitter in my home city for
@SMB_ash
✊
I'll be speaking Saturday on driving growth and will be by the conference now and then.
Come say hello & DMs open if you need any local tips while you're here. Enjoy SLC!
2
2
19
Today was
@DecadaGroup
’s leadership Quarterly Business Review where we invite the operating partners from each of our small businesses to get together in one room for the day.
Today was our third. Here’s what we've learned doing them and how we structure the day.
A thread.
2
0
18