Customer data, transactions, financials: Still reeling from the market implosion, VCs are demanding to see numbers to back up founder pitches | Smaller Companies Must Embrace Risk Management | What Makes a Great Corporate Purpose Statement

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You Might Like � � � You Might Like � � � � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium Customer data, transactions, financials: Still reeling from the market implosion, VCs are demanding to see numbers to back up founder pitches - Business Insider    When Miguel Guerrero, founder of ad-tech startup Otis AI, began fundraising for his company's Series A earlier this year, he wasn't sure what to expect. He had heard the stories about the heady boom times of 2021, about term sheets offered after one Zoom call, and due diligence that that took hours rather than weeks. He was hopeful that his experience would be the same.  So he was surprised when at the end of a first call with a New York-based venture capital firm, he was asked to provide reams of detailed data including daily transaction data, customer information, financials, projections; effectively offering up full visibility into every aspect of his business. "It was a little nerve-wracking to open up the kimono like that," Guerrero said, "but I think that's just the market right now." Continued here You Might Like � � � � � � � � � Smaller Companies Must Embrace Risk Management - Harvard Business Review    SMEs do not have the same regulatory pressures that can lead larger companies to measure and mitigate their risks, but they also have fewer buffer resources to resist unexpected shocks. They are one large potential incident away from bankruptcy. That’s why SMEs can benefit from taking three actions: designing controls proportionate to the risks at stake, analyzing the lessons from success (not only from failures), and using risk management to boost and protect business performance. There’s an unfortunate stereotype that risk management is boring. Risk managers are pessimistic clerks. Compliance officers are scaremongers. Too many managers think this way. As a result, risk management is an unloved and misunderstood discipline. Until disaster strikes, risk management is, for most, a painstaking and costly chore. In an increasingly volatile world, however, risk management has never been so important. Nonetheless, risk managers struggle to make their voice heard in the face of more immediate and commercial pressures. This is especially true in small- and medium-sized companies — organizations with entrepreneurial cultures, fewer regulatory demands, and more resource constraints. These businesses tend to view risk management as an expensive luxury — and they may be more exposed to risks as a result. Continued here You Might Like � � � � � � � � � What Makes a Great Corporate Purpose Statement - Harvard Business Review    Having a well-crafted purpose statement really matters. Not only does it represent the organization’s aspirations, it also sends signals to employees about what the company stands for. It is the vital first step on the road to actually embedding and activating an authentic purpose. Yet leaders often struggle to articulate an appropriate and inspiring purpose statement due to a lack of guidance concerning the focus, scope, and form of expression they should aim for. The authors conducted a detailed analysis of purpose statements from leading organizations around the world and developed a diagnostic framework leaders can use to help craft the best purpose statement for their specific situation. Organizations in all sectors are increasingly required by their investors, customers, employees, and wider stakeholders to articulate a clear statement of corporate purpose. Purpose isn’t about profit maximization; it’s the reason the organization exists. A purpose statement should clearly explain how the organization will contribute to human, societal, or environmental goals. It needs to be believable, authentic, and inspiring. However, we’ve seen many purpose statements that in our opinion range from vague (e.g., Delta’s “Lift the world”) to grandiose (e.g., Cisco’s “to power an inclusive future for all”) to uninspiring (e.g., Decathlon’s “to be useful for people”). Continued here

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