We’ve all heard it – an ounce of prevention is worth a pound of cure. The problem, of course, is that this saying, like so many other good bits of advice, is easier said than done. It turns out that running a successful business is hard. If fact, unless luck is the driving force behind your business, running a successful business is often all-consuming. You learn to prioritize activities and resources. You are likely head-down with a clear focus on what needs to happen to get through the day, or the week, etc. Over time you are likely to focus more on those issues that are within your control or are more satisfying. While these are good coping strategies, they leave you exposed to real risks.
A company’s ability to plan and execute capital transactions is an essential driver of its success. Doing a transaction can be an integral part of a company’s plan from the outset. Or the issue can remain in the background until the time to do a transaction approaches. Question: Should entrepreneurs be thinking from the start about their “end game?” Or should they focus simply on building a successful company in the belief that, if they succeed in doing so, they will have good options down the road, like selling it or passing it on to their heirs?
Only ONE in TEN companies grow beyond “No Man's Land”. To improve your chances, you must first understand if your company is in No Man's Land. Learn more in this guide! Subscribe and get your copy now.
A company’s ability to plan and execute capital transactions is an essential driver of its success. We asked our partners, who are CEOs, senior executives and board members, to reflect on their experience preparing companies for transactions to raise capital to finance internal growth and/or M&A or to sell the company. Question: In your experience do the leadership teams of emerging growth companies believe they are more transaction ready than in fact they are? How so?
Newport Board Group, Susan Kearney and Lynn Lednicky, presented to an audience of business founders and CEOs. The topic for that portion of the webinar was the event or other catalyst that leads an entrepreneur to take action, as their business grows and becomes more complex, to build or augment their management team.
In a webinar on April 27, two partners of Newport Board Group presented to an audience of business founders and CEOs. The topic was how owners of emerging growth companies that have gotten off the ground and are trying to grow to scale should think about expanding and upgrading their management team.
A main need of companies in No Man’s Land is to build an experienced management team that can take the business where it needs to go. An entrepreneur must create and delegate to a high functioning management team responsibility to build processes, systems and culture to drive growth toward scale. We asked Newport partners to draw on their experience as CEOs and senior executives: what are successful practices you have seen (and what are pitfalls to be avoided) in defining executive roles and then selecting, onboarding, incentivizing, overseeing and rewarding members of the top team?