I think the biggest thing that the Paceline folks miss is that you’d have to find a business advisor skilled in managing niche brands. The average bear would come in and get rid of the the things that make Rivendell different from many other companies. The idiosyncrasies appear to be problematic from someone who wants a hyper-normalized company or believes hyper-normalization is the best way to succeed in the market. A niche brand can exist with its idiosyncrasies and SHOULD exist. It’s just harder when you decide to do things based on a vision and opinion rather than a regression analysis of a market based solely on profit uber alles.
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