Remove all reporting relationships

 Increase the number of brainstorming sessions

Delay assigning responsibilities until the company grows 

Clarify roles and establish essential procedures

A founder chooses a new logo

A partnership changes its meeting schedule

A healthcare venture handles sensitive patient information 

A retailer creates a customer persona

“I would never present it that way.”

“You should change everything.”

“Your pitch was not good.”

 “Explain the customer benefit earlier so listeners understand the value.” 

Transfer of responsibility for managing the venture

Access to practical wisdom and industry insight

Removal of the need for customer research 

A guarantee of future investment

 Direct exporting

Foreign direct investment 

Franchising

Indirect exporting

By helping employees recognise and develop their entrepreneurial potential

By ensuring every employee produces the same ideas

By concentrating innovation responsibilities only at the top 

By replacing opportunities to apply new skills

To ensure that negotiation is unnecessary

To remove the need for financial projections

To improve the fit between the venture and the investor’s priorities 

To guarantee that the investor accepts its valuation

Customers everywhere purchase through the same channels 

Market characteristics, traditions, competition, and development differ

Every country requires an identical number of intermediaries

Distribution structures depend only on the producer’s preferences

Selling shares to venture capital firms

Raising money through public donations

Borrowing exclusively from commercial banks

Funding the venture through founders’ resources and reinvested earnings 

To calculate annual tax 

To determine the business registration fee

To clarify why the business exists

To appoint a company secretary