When Things Go Wrong: Diagnosing and Fixing Portfolio Problems

Private equity is messy in real time. In this episode, co-hosts Lloyd Metz (ICV Partners), Doug McCormick (HCI Equity Partners), and Sean Mooney (BluWave) lay out practical ways to spot trouble early, separate market shifts from operator errors, and use forward indicators, not just rear-view financials, to steer. 

They cover KPI design by business model, forecasting discipline, the “support before swap” approach to diagnosis, and when to move to interim leadership while hiring the permanent fix. Clear, blunt, and field-tested; hit play to sharpen how you manage downside and protect value.

Episode highlights

• 3:54 – Why monthly financials are rear-view and can mask emerging issues
• 7:53 – Reading the balance sheet and cash flow to surface hidden problems
• 10:22 – Forward signals: funnels, backlog, churn, and other business-specific KPIs
• 12:42 – Reforecasting discipline, tracking “call accuracy,” and bias correction
• 19:17 – Diagnosis through support: roll-up-sleeves work with operators, not board-deck analysis
• 33:27 – When it’s leadership: interim coverage, “fire fast, hire slow,” and setting the next exec up to win

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

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For information on HCI Equity Partners, go to https://www.hciequity.com
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net