LHThe Long Hold

There’s a third option.

For founders building the quiet way. Private. Profitable. Permanent.
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Latest

Adjusted EBITDA is a negotiating position, not a number

Somewhere underneath it is the figure that actually services the debt and funds the distributions. Here is how to find it.

The Buyer'S View · October 8, 2026 · 4 min read

The First Hundred Days: a field guide to the handover nobody prepares you for

Five phases, one hundred days, and the questions that matter in each. The free guide for anyone taking a company on, or handing one over.

Key-Person Risk · October 1, 2026 · 9 min read

Leverage rarely kills a company on its own. Covenants and timing do.

How to read a credit agreement the way an operator has to, rather than the way a spreadsheet does.

The Buyer'S View · September 24, 2026 · 4 min read

Year one runs on goodwill. Year two is when you find out what you bought.

The first year has momentum and the benefit of the doubt. Neither renews automatically.

Everything Runs Through You · September 17, 2026 · 4 min read

The company you inherit is a set of agreements nobody wrote down

The org chart tells you who's accountable. The decision map tells you what breaks when they leave.

Key-Person Risk · September 10, 2026 · 5 min read

The belief that built your company can quietly start running it

How to tell the difference between holding a conviction and being held by one.

Everything Runs Through You · September 3, 2026 · 2 min read

The primary job of a CEO is judgment, exercised repeatedly

Judgment requires space. Space requires doing less.

Everything Runs Through You · August 27, 2026 · 2 min read
What this covers

Founder

The psychology of letting go.Why some founders can walk away from what they built, and others can’t.

Capital

The decisions behind the cash.When to reinvest, acquire, distribute, or hold when the business is your own.

Operator

The work that compounds.Hiring, delegation, pricing, retention, and what actually makes a business better over time.

Technology / AI

The applied kind, not the hype.Where AI and software actually fit inside a real operation — the workflows worth automating, the ones to leave alone, and what to do with a codebase older than your newest hire.

Ownership

Building beyond the founder.Succession, governance, and what it takes to last for decades.

LHThe Long Hold is written by Ahmad Khan, an investor and operator thinking about technology, ownership, and what it takes to build businesses that last.
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