The Askel Playbook

Source: Playbook v2 EN — Ch. 1

Investment Philosophies

1. Boring is beautiful — predictable cash flows, low tech risk, high operational leverage.
2. We build under market prices. Disciplined valuation is non-negotiable.
3. Operational excellence compounds. A well-run laundromat beats a poorly run tech startup.
4. Speed of learning matters more than perfect information.
5. We treat sellers with respect. Every deal has a human on the other side.

Acquisition Stages

Stage 1: Sourcing   →   Stage 2: Screening   →   Stage 3: IC   →   Stage 4: DD   →   Stage 5: Closing   →   Stage 6: Knowledge Transfer

Each stage has defined entry criteria, an output, and a handoff to the next. A deal that fails any kill question is dropped — no sunk cost fallacy.

Sub-skill Routing

Skill	Trigger condition
playbook-thesis	Scoring a lead, pass/fail on thesis criteria, any thesis question
playbook-sourcing	Any sourcing sweep, lead discovery, weak-signal scan
playbook-screening	First pass on a lead that passed thesis; before IC
playbook-valuation	Any valuation question, yield rate, Business Value calculation
playbook-ic	Preparing for IC, running the IC meeting, post-IC steps
playbook-dd	Any due diligence task, dataroom, DD1/DD2/DD3
playbook-knowledge-transfer	Post-acquisition transition, handover, team onboarding
playbook-sales-system	Post-acquisition sales system setup, CRM, B2B/B2C outreach

Progressive disclosure: load the most specific sub-skill that covers the question. Never load the whole playbook when one chapter is enough.