Our fearless leader, Alese Stroud, guested on “The Deal Scout” podcast recently to talk about Angel Investing and Due Diligence.
Alese and Josh talk about why due diligence is critical and how to do it better.
Walking a Tight Rope
We are all having a hard time keeping our businesses balanced during this COVID crisis. Even the best managed businesses are giving high percentages of their focus to work from home strategies, funding sources and thinking about how to be responsive in a caring way to their customers who are also deeply impacted.
What happens to an organization when all the focus shifts suddenly? Think about walking a tight rope. Without a balance bar. On a windy day. Hundreds of feet off the ground. Is your heart rate up? Mine certainly is! That’s exactly where our companies are now.
How do we get back in balance? We need a balance bar. We need someone to turn off the gusty wind. And, we need a safety net. How do you make that happen for your company?
The conversation starts by thinking about what elements of your company are being neglected at the moment. For each one, is that OK? How much longer can that element go without attention?
Mature, well documented processes executed by well-trained employees are likely to continue working reasonably well during stressful times. Company practices that are undocumented, unmeasured and/or untrained probably need a bit of attention at the moment – especially if they have been neglected while we were all doing our EIDL / PPP applications and figuring out how to do meetings by ZOOM.
At ISSAC.AI, we recommend using our ISSAC:LITE modules to do a quick review with your executive leadership team to see which practices are well managed at the moment and which may be in the undocumented, unmeasured, untrained category.
Wishing you newfound balance and great success!