A crucial supplier may suddenly fold, leaving an entrepreneur scrambling to fill orders.
A hostile takeover may take investors by surprise. Or a savvy competitor can throw a monkey wrench into the best-laid business plan.
Be prepared to question your business plan as well as your charted course. You’ll run lots of interference as you attempt to move heaven and earth to satisfy the company’s investors and lenders.
The world of startups tests the mettle of a CEO like nothing else. It’s a juggling act as the firm’s leaders run back and forth to reassure existing investors as well as court new sources of capital.
Steering a startup exacts heavy demands on corporate leadership. They must run interference, keep tabs on cash flow and improvise ways to keep the ship afloat until revenue catches up with costs. Startups bleed cash, but even so there will be junctures when a CEO is tempted to hold onto capital. There will be moments when a sudden crisis requires bold leadership. Even when under great pressure, an entrepreneur must summon the resolve to take a gamble that customers will appear and investors will shore up dwindling capital.