Startups struggling for survival are not uncommon, due to economic changes, management problems, or product issues. If these challenges can’t be resolved by the existing team with “course corrections” or “pivots,” an investor will often bring in an experienced CEO to tackle the turnaround before or after bankruptcy.This is a hard and painful process for everyone, but it’s usually better than the alternative of liquidating or losing the assets and antagonizing many customers. The issues are often similar, so I’ll relate a real case from my own experience to illustrate the process and the results.
To read the full, original article click on this link: Startup Professionals Musings: Pivot Now is Less Painful Than Turnaround Later
Author: Ernst H. Gemassmer
