I believe very strongly that different people have different strengths at different times in a company's life. It's easy to characterize it as pre-revenue to $5mn in revenues; $5-20mn and $20+. As with all generalizations it avoids the subtleties but hits the key points. I have learnt, painfully at times, that my strength is in the "pre-money to $5mn revenue" area. I am genuinely interested in all the bits that come with being a larger company but have very little to add to a CEO who has been there before. For those fighting through to the first year of product sales (as opposed to NRE or grants) I can offer a ton of tough love.
However, like any affair there is a good, better, worse moment to admit that your value on the board could be improved by a someone with skills in the next category up (or the workout category!!)
It does not make it any easier to step down, refocus on the company's where you add more value and move on.
Still feels like shit though when they are doing well.
17 December 2004
Letting Go
I believe very strongly that different people have different strengths at different times in a company's life. It's easy to characterize it as pre-revenue to $5mn in revenues; $5-20mn and $20+. As with all generalizations it avoids the subtleties but hits the key points. I have learnt, painfully at times, that my strength is in the "pre-money to $5mn revenue" area. I am genuinely interested in all the bits that come with being a larger company but have very little to add to a CEO who has been there before. For those fighting through to the first year of product sales (as opposed to NRE or grants) I can offer a ton of tough love.
However, like any affair there is a good, better, worse moment to admit that your value on the board could be improved by a someone with skills in the next category up (or the workout category!!)
It does not make it any easier to step down, refocus on the company's where you add more value and move on.
Still feels like shit though when they are doing well.
1 comment:
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Anonymous said...
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I saw the quote below and thought you might find it interesting taken from http://www.timesonline.co.uk/article/0,,2089-1431539,00.html
"Krongard, a former investment banker who joined the CIA in 1998, said Bin Laden�s role among Islamic militants was changing.
�He�s turning into more of a charismatic leader than a terrorist mastermind,� he said. �Some of his lieutenants are the ones to worry about.�
Krongard, 68, said he viewed Bin Laden �not as a chief executive but more like a venture capitalist�.
He added: �Let�s say you and I want to blow up Trafalgar Square. So we go to Bin Laden. And he�ll say, �Well, here�s some money and some passports and if you need weapons, see this guy�."
Yet another slap at the VC community -
10 January, 2005
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I saw the quote below and thought you might find it interesting taken from http://www.timesonline.co.uk/article/0,,2089-1431539,00.html
"Krongard, a former investment banker who joined the CIA in 1998, said Bin Laden�s role among Islamic militants was changing.
�He�s turning into more of a charismatic leader than a terrorist mastermind,� he said. �Some of his lieutenants are the ones to worry about.�
Krongard, 68, said he viewed Bin Laden �not as a chief executive but more like a venture capitalist�.
He added: �Let�s say you and I want to blow up Trafalgar Square. So we go to Bin Laden. And he�ll say, �Well, here�s some money and some passports and if you need weapons, see this guy�."
Yet another slap at the VC community
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