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Daring to Compete
book

Daring to Compete

by Diane Foreman, Bryan Pearce, Geoffrey Godding
April 2019
Intermediate to advanced content levelIntermediate to advanced
272 pages
4h 45m
English
Wiley
Audiobook available
Content preview from Daring to Compete

CHAPTER 11 Driver #5: Funding and Finance “Failing to plan is planning to fail”

 

There comes a moment in every company’s life when funding is needed to realize growth potential. As Richard Harroch, managing director of venture capital firm VantagePoint, says, “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that . . .”1

Our research shows (see Figure 11.1) that entrepreneurs who succeed in driving growth focus on five key areas in Funding and Finance, and this focus changes as the company evolves from Developing to Leading. The five areas include:

  1. Appropriate funding – sourcing the best-fit types of debt and equity capital from the right lenders and investors, in the appropriate amounts and proportions, at the right time
  2. Effective finance team and organizational structure – given the development stage of the business, to be able to plan financing needs, effectively manage cash flow, and provide company leadership with reliable information and metrics to run the business
  3. Finance processes and controls – ensuring accurate and timely information is collected; having the right checks and balances in place that can provide an early warning of potential threats as well as robust systems for budgeting, credit, and cost control
  4. Data and technology – enable smooth operation of the finance processes and controls described above
  5. Stakeholder management communicating the funding and finance state of the business to shareholders, ...
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Publisher Resources

ISBN: 9781119546764Purchase book