If your venture gets an F for Fail, exit stage left nicely

I have just read a post by Jessica Lewis on LinkedIn group ‘Online Visibility Boost for Entrepreneurs’ ( http://www.linkedin.com/groups/Entrepreneurship-Business-Strategy-Dealing-Failure-3987482.S.236007402?view=&gid=3987482&type=member&item=236007402&trk=eml-anet_dig-b_nd-pst_ttle-cn).. The post discusses some serious issues that entrepreneurs must face when their venture fails. This is a subject that all entrepreneurs have tucked away in the back of their mind, hoping never to have to drag it out. I also dealt with this subject in my very recently published eBook: ‘The Venture Capital MasterClass: everything you always wanted to know about raising equity capital … but until now, you had no one to ask(http://chironthebusinessdoctor.com/the-venture-capital-masterclass/). I had a slightly different slant on the subject, but we each reached virtually the same conclusion.

The simple fact is that there is no glamour and no glory in failure! Continue reading

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Directors’ Decision-making: Working Between a Quandary and a Dilemma

The buck stops here!. In modern companies, the buck stops in the Boardroom. Boards of Directors don’t have the luxury of saying, ‘this is too hard, give it to the Chief Executive to fix!’. Of course, Boards do have the questionable (some would say honourable!) option of procrastination. They can refer a proposed venture that seems a little complex to a Board subcommittee for evaluation, they can refer the proposed venture to one or more members of the senior management team for further evaluation, or they can refer the proposed venture to their external advisers for further evaluation (their accountants and solicitors for example). Sooner or later however, the Board will have to face the music, consider and decide what to do with the venture proposal. This is the point where Directors’ Decision-making: Working Between a Quandary and a Dilemma becomes a serious reality.

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