Category Archives: Depending upon others

The 18-month rule and a harrowing tale

It can take 18 months from initial concern about a critical employee to getting a replacement up to speed. Of course, I’ll tell another harrowing story here. But first. an old friend, Dick Tanaka, gets credit for the 18-month rule.  … Continue reading

Posted in Depending upon others, Growth!, Protecting the business | 3 Comments

Any advice can be worthless, or worse.

Ever get bad advice? Sure. We all have in our past. Ever take that advice without question because the person giving it was an investor, a superior in rank, the chairperson of your board?  I’ll bet you have at least … Continue reading

Posted in Depending upon others, Protecting the business, Surrounding yourself with talent | 3 Comments

How do you pay an early stage board?

Give one percent equity to each outside board member vesting over four years of service. Many early stage CEOs and board members have asked for some guidance regarding pay and time commitments for board members.  Here is my best advice, … Continue reading

Posted in Depending upon others, Surrounding yourself with talent | 3 Comments

Please learn this: “Noses in; fingers out!”

Many of us have someone who reports directly to us and who supervises others in return. If that fits, well then, this one is for you. And it is one of the most important lessons you can learn as a … Continue reading

Posted in Depending upon others, Surrounding yourself with talent | 4 Comments

Hire a consultant; ignore the advice.

At one time or another, most all businesses use consultants to fill the gaps in knowledge or to provide guidance for management.  Consultants are good in that you can sample their work with short projects, change to other consultants quickly, … Continue reading

Posted in Depending upon others, Surrounding yourself with talent | 13 Comments

Bankers: love ’em or hate ’em. They may affect your future.

Let’s get right down to it.  Your banking relationship can be like a great marriage or a bad trip to the DMV.  In most cases it is strictly your choice.  But the results of that choice will reverberate for what … Continue reading

Posted in Depending upon others, Surrounding yourself with talent | 6 Comments

Accounting: What kind of bean counter do you need?

Accountants are trained, certified and usually quite experienced in financial analysis, both creating and reviewing data.  Bookkeepers are often trained on the job although sometimes more formally and handle the physical work of accounting for the transactions.  To expect a … Continue reading

Posted in Depending upon others, Protecting the business, Surrounding yourself with talent | 2 Comments

Can your lawyer destroy a good business deal?

Over the years in business and as a member of over forty boards, I have received good advice from corporate attorneys and on occasion bad advice as well.  There is a line that should be drawn in a relationship between … Continue reading

Posted in Depending upon others, Protecting the business | 11 Comments

How well do you use your business time?

Forming business relationships at the highest level As you follow these insights from ignition to liquidity event, you’ll detect a continuing theme, emphasizing the need for deep and wide relationships that the CEO and senior staff can call upon for … Continue reading

Posted in Depending upon others, Surrounding yourself with talent | 3 Comments

Several more real costs of taking outsider investments.

Let’s talk about the reality of taking money from professional investors.  It is not the first time we’ve covered this general subject nor the last. But this time, we concentrate upon governance changes. Once a company founder has tapped the … Continue reading

Posted in Depending upon others, Raising money, Surrounding yourself with talent | 5 Comments