The Compass and the Map
Posted on 29. Nov, 2011 in Kirchner Blog
I had a case where the investors, worried about the lack of profitability of a software company that, on the face of it, should have been producing substantial profits. When we dug into it, we concluded that the founder/CEO had not paid sufficient attention to strategic planning, and as a natural extension, profitability at a
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Managing and Measuring
Posted on 15. Nov, 2011 in Kirchner Blog
When the most fundamental truths about operating a successful company are repeated and repeated, they are seen as trite and can be ignored. The one I’m thinking about today is, “You Can’t Manage What You Don’t Measure.” A mantra oft recited. Yet somehow, regularly missed in the operation of small- and mid-cap companies. Companies that
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The Sprinkler in the Rain Storm
Posted on 01. Nov, 2011 in Kirchner Blog
Everyone at KPCG is a seasoned professional. We have literally spent years in the trenches “being there” and “doing that”. So we have seen and now recognize a lot of patterns. In looking at businesses that seem to have gone off-track, we rely heavily on pattern recognition. Sometimes the patterns are obvious. However, sometimes the
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Chord Shapes
Posted on 28. Oct, 2011 in Kirchner Blog
We’re asked all the time what the secret is to our success in helping companies operating off-plan to get back on track and flourish. The answer, as you would imagine, lies in our experience. But more specifically, it relates to the transferability of our experience. What I mean by that is this: over long careers,
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Raising Growth Capital is not only about Maximizing Valuation
Posted on 17. Oct, 2011 in Kirchner Blog
A business owner recently told me that he was in discussions with a venture capital firm regarding a potential investment in his business. He said he liked the partner he was dealing with and he felt the person was very sincere in his interest to invest. With this background, the owner asked me, “If his
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Butchering Sacred Cows
Posted on 20. Sep, 2011 in Kirchner Blog
You know, one of the chief advantages to being the newly minted leader in any organization is that you don’t carry the prejudices and biases of someone that has been there since the start. By not knowing the story behind why something is done a certain way, you can measure its value on its face
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Can you get us out of this mess?
Posted on 06. Sep, 2011 in Kirchner Blog
As seen on a recently nationally televised interview, Bud Kirchner sits down for a Q&A session with Bob Scully. Bob: “How do we fix the current financial problems?” Bud: “We need to start to focus on small to medium size enterprise as they are the engine of the economy, its where the most jobs are
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You Can Sleep When You’re Dead
Posted on 26. Jul, 2011 in Kirchner Blog
I get frustrated by companies that find themselves operating off-plan but haven’t taken the initiative to act for change. So-called “lifestyle” companies that have lost momentum but where the management team is unwilling to operate differently, or worse yet, operate more intensively drive me crazy. There are countless ways to fail. Lots of things can
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A Business Run by Robots
Posted on 12. Jul, 2011 in Kirchner Blog
This week, after several trying experiences with actual human beings, I’m left to wonder if business wouldn’t be a lot easier if it were run by machines. I think many tend to dismiss the role that human imperfections plays in business. Or, if not dismiss, then maybe like to ignore the variable when trying to
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Looking under the hood of a Private Equity firm
Posted on 28. Jun, 2011 in Kirchner Blog
As the private capital markets have matured, due diligence has shifted from being a one-way street where investors evaluate a company and its management prior to investing to a mutual assessment process that includes entrepreneurs performing background checks on the investors. This is an appropriate evolution, but only to the extent entrepreneurs understand the potential
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