FINANCE: Are you ready for private equity? Here’s how to tell
The most successful entrepreneurs supplement their skills with professional managers. We look for professional management in the key functional areas of the company, which typically include sales, finance and operations. By “professional” we mean managers who have been trained and have demonstrated success in growing a business and managing for profit. We like to see outside experience, maybe at a larger company that has a strong training culture. This is in contrast to most entrepreneurs’ business experience, which may be home-grown.
SALES & MARKETING: Inconsistency causes confusion and leads to brand disloyalty
A brand is much more than a logo. It is everything from the words you put on paper to the message on your voice mail. Each message must be consistent or you risk confusing the customer. Don’t forget employees: No matter what job they hold, everything they do says something about who your company is. An inconsistent message is like having multiple personalities, and the customer won’t know what to expect.