Establishing the people and skills you need, and the culture that will empower them, is even more important than the cash you are investing!
Entrepreneurs can build more distinctive and compelling loyalties than large companies. People trust people more than anonymous corporations. According to Edelman research quoted in the Economist 21 Nov 2014, 73% of private company people trusted senior management versus 64% of plcs and 61% of public sector employees and firms owned by private equity investors. The Economist reckons the reasons are:
Think of your people in your first business plan – create the EB you will offer from Day 1.