Executive and Team Coaching, Leadership Coaching, Mentoring - Strategic Planning - Board Service

Dr. Earl R. Smith II

 

Volume Four: The Money Chase – Venture Funding

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The Money Chase has been the death of many good companies. There are a range of reasons why this is so. Some companies simply do not deserve funding – they are not an attractive investment opportunity. Others embark on the money chase too early. They haven’t established the business base to justify funding. Still others are run by people who seem to like the money chase better than running the business. All of these reasons and more make embarking on the search for venture funding a perilous business which risks your company and all it may become.

Over the years, I have worked with a large number of companies and management teams that have sailed these choppy seas. I’ve written this book to let you in on some of the knowledge – sometimes hard won – that I have accumulated.

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The CEO's Handbook - Volume One - Notes for a Thinking Chief Executive
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The CEO’s Handbook Volume Two: Business Development
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The CEO's Handbook - Volume Three - Getting Funded by Angel Investors
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The CEO's Handbook Volume Four The Money Chase
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Leadership - Notes From a Successful Entrepreneur and Experienced Coach
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The Omega/Alpha Mystery Series

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Paranormal Detective Series - Take a Break from Business
The Toast of Broadway - Click Here to Preview
Marked For Murder - Click Here to Preview
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Volume Three: Angel Investors

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I wrote this book to help CEOs better understand Angel Investors. Getting funded is one of the major challenges that they face. Without adequate financial resources, a company will be limited in what it can accomplish. The journey to funding is full of twists and turns – journeys into unfamiliar territories. CEOs are far more familiar with the business of their business than the world of the angel investor. But, if they are going to be successful in getting funded, they need to understand and accommodate the investor’s objectives. More companies fail because of this challenge that should. In this book I will draw from my experience and tell you of the good and bad that angel investors can bring to your company. I’ll give you a peek behind the curtain and let you in on their approaches to investment. My sincere hope is that, after reading this book, you will be better prepared for the journey and have a better chance of getting your company funded.

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Volume Two: Business Development

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More energy and effort is put into trying to figure out how to make business development work than any other management function; including advancing the technology that is at the heart of a company’s value proposition. There are plenty of books out that that deal with the technologies and tools of business development. This is not one of them. My focus is on the human interactions that accompany the development or expansion of a business development component of your senior management team.

Over the years, I have worked with dozens of CEOs. The vast majority of them  have felt more confident about their company’s technology and technological edge than about its ability to generate an expanding customer base. One client put it this way, “Sure, there is always competition but the core of our management team is focused on delivering advances that keep the company’s value proposition ahead of its competition.”

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Volume One: Notes for a Thinking Chief Executive

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The intent of this series is to provide the insight – set the reader on a path that will result in growth and mastery – open up the potential that has always resided within. The message that I very much want to communicate is ‘Yes, you can overcome. Yes you can grow in mastery, understanding and knowledge. You can become so much more than you are.”

During my business career, I have built six companies, started two non-profit funds and worked with dozens of senior executives – helping them to build their companies. As I look back over those years, I am struck by the diversity of my experiences and the knowledge that I have accumulated. As one of my early mentors was fond of observing, “there is no substitute for having done a thing. Writing about what you haven’t demonstrated mastery of is like thinking about being alive. It just isn’t the same thing.”

Available on Amazon Kindle

The CEO's Handbook - Volume One - Notes for a Thinking Chief Executive
Click Here to Preview
The CEO’s Handbook Volume Two: Business Development
Click Here to Preview
The CEO's Handbook - Volume Three - Getting Funded by Angel Investors
Click Here to Preview
The CEO's Handbook Volume Four The Money Chase
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Leadership - Notes From a Successful Entrepreneur and Experienced Coach
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Turbo-Charged Business Development

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I’ve never met a CEO who was really happy with the way business development was working. They all end up saying about the same thing. “Traditional solutions fail to produce expected results while regularly generating unexpected costs. There needs to be a better way.”

Do you ever get to feeling that way? Are you responsible for bringing in the business and getting frustrated because the approaches that you have been taught for business development just don’t seem to be working as well as you need them to? I remember what a friend told me a long time ago. “Never attempt today’s journeys with yesterday’s maps.” Maybe you just need a new map!!

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I wrote this series for CEOs and those who aspire to fill that role. The contents of the books has been distilled from a long and successful entrepreneurial career followed by many coaching engagements with CEO. There are presently four volumes in the series.

Here are some examples fro the books:

From: The CEO’s Handbook – Volume One: Notes for a Thinking Chief Executive

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Yes You Can

It is a typical conversation which generally comes more than once during the initial months of most of my coaching engagements. The client – generally younger and less experienced than I am – will insist that something is beyond their capability. I will insist that it isn’t. And so I urge them to attempt – and they demure.

You can do this!

  • No I can’t!

It isn’t rocket science – just think it through and do it

  • But what if I screw it up?

Then we will have proven that, contrary to your self-image, you are human after all (grin)

Sometimes this conversation comes when they are preparing for a major meeting – sometimes it precedes a conversation with a subordinate who needs to accept a new vision of his role. Each time it is a source of apprehension – mostly because:

There is something important at stake

It may be something which the they have never done before or done badly in the past

I know that they are going to attempt it – an aware audience can be daunting – but also motivating

Trying new things – attempting new approaches to complex challenges – can be daunting. Everybody has their comfort zone and, by definition, these forays involve movement outside of that zone. But it is far easier and far more likely to end up positively if you have an experienced coach working with you. Here are a few of the steps which I help my clients work through:

Define the challenge: Let’s get a really good understanding of what needs to be done

Evolve the metrics: How are we going to measure results and determine success or failure – let’s get it clear

Define success: What will a successful effort mean – what will be the results most desired?

Strategic into tactical: Now let’s work out a plan to achieve that success – starting from today and planning every step which needs to be made. This approach works particularly well when the challenge is a discrete event such as a meeting or discussion with a subordinate

Define the metrics for success at each step: We generally end up with something that looks a lot like a Gantt chart – with starting and ending points for each step along the way and milestones for each major accomplishment

Design the monitoring process: This is one which most of my clients tend to overlook at first. How are you going to track your progress and who are you going to review that progress with – and how often? The idea here is to be accountable to someone for your progress

Sharing the plan: Who are you going to share the plan with and what are their roles going to be in the process? It is particularly important to identify critical contributions and the steps necessary to guarantee them

Resourcing the process: What resources – funding, meetings, materials, etc. are you going to need? What arrangements are needed to make them available?

Contextualizing the challenge: How does this particular challenge fit into the broader picture? Is this one a variation on others which you have successfully met in the past?

The ongoing postmortem: The process of review continues throughout the effort – up to, through and after the challenge. The key lesson is flexibility and adaptability – you do, then review, then modify plans, then move forward. The review session generally produce a great deal of insight – personal epiphanies.

As the saying goes ‘fortune favors the prepared mind’. By helping my clients work through new challenges, I increase the probability that they will have a successful experience – and successful experiences are the very foundation of a building confidence which leads to mastery of what, at first, appeared, beyond them.

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I’ve never met a CEO who was really happy with the way business development was working. They all end up saying about the same thing. “Traditional solutions fail to produce expected results while regularly generating unexpected costs. There needs to be a better way.” Continue reading “Amazing Pace – How to Make Business Development Work Better” »

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You are about to enter a world in which all the characters are animals. But these are not cartoon characters, team mascots or anthropomorphic manifestations of human tendencies – they are potent spirits in their own right. Animals to be sure – but animals of a very special sort. Continue reading “Dream Walk – Parables for the Living” »

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Improving your leadership skills is one of the best investments that you can make in your future. If you are running your own company or a division. The platoon leader needs those skills as much as the general. Your skill as a leader defines you and makes it possible to achieve goals only dreamed of.

Good leadership is always part nature and part nurture. Whether you are aware of it or not, you are continually leading yourself and others. The question is ‘how good are you at it?’ The good news is that, with focus and effort, you can improve your leadership skills and get more out of life.

This book can help you become a better leader. Continue reading “Leadership – Notes From a Successful Entrepreneur and Experienced Coach” »

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I am indebted to those angel investors that I have worked with. Their willingness to talk openly about their mistakes – the opportunities foregone – as well as their successes – has made this book possible. Without that, I would just be writing fictional accounts of a process that I viewed from a non-investor perspective. I dedicate this book to all of them. They are, after all, angels

Continue reading “The CEO’s Handbook Series – Volume Three: Getting Funded by Angel Investors” »

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