Last updated on 3/30/22
- Understand the nature of launching a venture
In this part, we mention the fact that entrepreneurs have to act first and think then. What is the main justification behind this behavior ?
Because you don’t have time to think
Because execution is what entrepreneurship is all about.
Because the board is there to think, and outside the board the entrepreneur just acts.
Because it’s impossible, through reasoning and thinking, to identify the right decision, and therefore it is a waste of time.
Because during the early days, thinking conveys mostly an image of indecision, which is not good.
What is the main role of the Board during the early days of the project?
Make sure the project is under control
Coach the leader
Confirm the main strategic options
Sense when the time comes to appoint a new CEO.
Help, support the entrepeneur in the schizophrenic exercise of leading an early stage venture.
The statement « Finding a cofounder is like getting married » means what ?
The entrepreneur spends more time on his venture than with his family
Relationship among business partners inevitably turn on the long run into couple like relationships.
It is a long term commitment
Beyond talent and skills, you must assess deeper sides of your future partner ; like, values, ethics, long term objectives.
It is a mutually exclusive commitment for each partner.