Most entrepreneurs in corporate clothing don’t do well with complex sales models, product review boards, rigorous budgeting of finite funds, and managing trade-offs between products. Entrepreneurs are all about the new and never been done – in particular, new markets, products, technologies, and customers. Therefore, talented executives leave the world’s great corporations and bravely take on the quest of creating the next Microsoft, Google, Cisco, or Sun.
Read MoreMost companies view business planning as a necessary evil. Senior executives would rather be building new technology or talking to customers. For early and growth stage companies, the goal of business planning is to obtain funding to start or expand the business. For more mature companies, the main goal is usually to drive either an acquisition by a larger player or faster growth and profitability. In reality, the major goal of business planning is to outline the structure and execution steps to create the best possible business.
Read MoreOn the surface, the job of the Board of Directors appears to be pretty simple. The Board debates and approves the company strategy. It uses full Board meetings, committee meetings related to finance and operations, and monthly reports from management to track things over time. This system works well for many companies; however, if you are a growth company CEO, you should ask yourself one, key question: Are my outside Board Members paying attention?
Read MoreFirst of all, there is no magic formula for valuation. It's a negotiation based on the characteristics of your market, your company's performance, and the quality of your team. Secondly, not all money is the same. Your company's valuation matters, but it's not the only thing that matters when you look to raise money. The quality of the funding source matters, too.
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