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Steps to Growth Capital Self-Study GuideStep 4

Self-Study Guide

Step 4:
Demonstrate Your Management Capabilities
Introduction
What Investors Look For
Describe Your Track Record
Prepare Report Cards for Investors
Assess Your Managers' Abilities
Strengthen Your Management Team
Determine Your Competitive Advantage
Action Items
New Tech Case Story
Investor Readiness Test
Fast Track to Growth Capital
Steps to Growth Capital: The Canadian entrepreneurs' guide to securing risk capital
Resources   Glossary   Index/Search   Comments   Steps Home
Step 1

4.8 Action Items

Tips Icon Tip

Other Actions you should consider.

In this Step you have seen that the management of your business will be of keen interest to potential investors. You've seen how to examine, assess and present your management team's track record. And you've seen how to provide a competitive assessment of your company.

The following checklist will help you to:

  • assess your understanding of the ideas covered in this Step;
  • gauge your progress; and
  • plan your company's approach.

Checklist

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Activities Status? Target Date? Responsibility?
Management and Company Performance
Take stock of your company's track record and consider how best to present it to an investor.      
Identify the key functions that need to be managed in your business.      
Assess your management strengths and weaknesses in each of the key areas. (Use a Management Audit Tool or other method.)      
Prepare "report cards" on each of the important management functions.      
Prepare for investors' questions in each of these areas.      
Compare the management skills you have with those you need on a grid.      
Strengthen your management team through training, hiring, realigning roles, or adding expertise through a board or through advisors.      
Competitive Position
Assess your overall competitive strength relative to your competitors.      
Develop strategies for managing areas of weakness more effectively.      
Be prepared to explain to investors your competitive position and the strategies you are using to improve it.      

 

Tips Icon

Tips

Here are some other actions you should consider:

Get Expert Advice

If management capabilities are a touchy issue for some of your managers, consider hiring a consultant to do an objective assessment and make recommendations for improvement.

Involve the Team

It may be tempting to do the entire management review yourself and simply present the management group with your findings and decisions about action to be taken. Think again before you take this approach. Even if the results show your managers are all doing a superb job, leaving them out of this important activity deprives them of contributing their ideas for how the company can be more effectively run. And if you find there are areas that need improvement or individuals who must move on, your remaining managers may lose trust that you or the company will be fair and open with them in future.

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Updated:  2005/07/12
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