The owner now has an investment, and is seeking to negotiate “deals” like venture capitalists, IPO (Initial Public Offerings), or management buy-outs, as a consequence perhaps of seeking personal differentiation strategies, exit strategies or trying to keep the team together. The owner needs to find a “Chairman of the Board” or CEO capable of doing this, as the crisis is one of incumbency. The business has outgrown the owner and the paid-for board of governance is now critical.
Growth occurs through contribution of the board and perhaps entering into true joint ventures as survival and break through depends upon collaboration.
Obviously I have adapted Carl Gould’s underlying directions with knowledge gained in my travels. I still encourage people to read Carl’s book and there are a few others like Alexander Osterwalder’s 2009 book called “Business Model Generation.” Looking forward to your comments and going a bit further in my next blog. ~ Kevin