The Strategy has not worked. Some $20 Million in venture money has already been burnt in the trial and error process over the last 3 years. A few rounds of hiring and firing of CEOs and executives have already taken place. But the company has still not hit its stride.
Hundreds of pieces of data elements lie scattered in the brains, computers and desks of the employees, current and former. Yet no process exists to assimilate, synthesize, and collapse the existing institutional knowledge collected over years of experiments, mistakes, and hopefully, some occassional, even if accidental, successes, into a digestable set of nuggets that lead to good, solid decisions.
Have you ever wondered what to do with this problem child? I am sure you have. In fact, scenes from Board Meetings and Partners Meetings emerge through your subconscious on otherwise soothing summer nights … even when you may be consciously in denial.
In the carnage of the last 5 years, the above has been the story in every VC’s life. Here are a few simple questions that I suggest you ask, and have someone facilitate gathering the answers. The answers will tell you whether the Dog can become a Tiger!