Marshall Goldsmith

FEBRUARY 8, 2018

You have to lead transformation without sacrificing financial and operating results, or injuring your engagement scores. Pinterest today engages more than 200 million users and this fall reached a pre-IPO market value of over $12 billion. But that lofty goal can feel like attempting to change tires in the middle of rush-hour traffic.

Competitive Advantage 70

Competitive Advantage Banking Diversity IPO 70

Harvard Business Review

NOVEMBER 30, 2011

Yelp's IPO filing comes hot on the heels of successful IPOs and high valuations for Angie's List and Groupon. In a recent paper , I combined Yelp ratings with restaurant revenues for every restaurant that operated in Seattle during Yelp's entire run there. The evidence shows that it does.

IPO 15

IPO Business Model Review Advertising 15

Harvard Business Review

AUGUST 20, 2014

To do so, it had to come up with a brand of management all its own, centered around “people analytics,” a quantitative approach to hiring and operations. Earlier this year, Google’s SVP of People Operations, Laszlo Bock, wrote about its latest “people analytics” experiment.

IPO 16

IPO Management Engineering Innovation 16

Harvard Business Review

OCTOBER 26, 2011

A star example is Google, which raised a mere $40 million in private funding before its IPO at a $23 billion valuation. While there has not been a defining exit in clean energy akin to the "Netscape moment" for the internet, there have been numerous recent IPOs in the biofuels sector.

Energy 15

Energy Finance IPO Biotechnology 15

Harvard Business Review

AUGUST 1, 2011

Microfinance has come under fire in the past 18 months, triggered in part by SKS Microfinance's IPO. Critics complain that the institutions supporting microfinance have become too greedy, and many are using this as an argument to deeply regulate or, even more, cut support to microfinance operations.

Microfinance 15

Microfinance IPO Bottom-up Finance 15

Harvard Business Review

AUGUST 27, 2018

The number of listed firms can decline because of three developments: 1) bankruptcy, failure, or closure of listed firms, 2) delisting of firms going private or acquired, and 3) decrease in number of initial public offerings (IPOs). Furthermore, doing IPO is not only an expensive proposition, it also consumes managerial time and energy.

IPO 14

IPO Company First-mover Advantage Intangible Assets 14

Harvard Business Review

AUGUST 16, 2011

This is the essence of Groupon's declaration last week that it will remove the controversial accounting metric called Adjusted Consolidated Segment Operating Income (ACSOI) from its financial statements. In fact, we are really losing a lot of money.".

Christensen 22

Christensen Fixed Costs Metrics Business Model 22

Harvard Business Review

OCTOBER 23, 2013

To a person, they look astonished when I ask whether their dedication comes from anticipation of the money they could make in the event of an IPO. One person says that he can’t let himself think about an IPO. For these professionals, a future IPO is outweighed by today’s OPI — the opportunity for positive impact.

Motivation 14

Motivation IPO Norton Open-book 14

Harvard Business Review

JULY 11, 2018

To focus on businesses that are closer in spirit to the prototypical high-tech startup, we used a variety of indicators: whether the firm was granted a patent, received VC investment, or operated in an industry that employs a high fraction of STEM workers. These highest-performing firms were identified based on employment growth.

Succession 16

Succession IPO Entrepreneur Biotechnology 16

Harvard Business Review

APRIL 30, 2012

With the JOBS Act , the rise of international accelerators , the upcoming Facebook IPO , and the mind-blowing $1 billion Instagram acquisition , you can be sure that droves of young, ambitious founders will be jumping on the start-up bandwagon. It's been a banner year for start-ups.

Ries 20

Ries IPO Entrepreneur Maturity 20

Harvard Business Review

FEBRUARY 8, 2013

operator of theme parks including SeaWorld and Busch Gardens, recently filed for an initial public offering (IPO). Best known for its aquatic shows featuring Shamu the killer whale , SeaWorld's IPO filing specifies that a key future growth strategy will be to "expand in-park per capita spending through new and enhanced offerings.by

Price 9

Price IPO Discount Bottom-up 9

Harvard Business Review

DECEMBER 30, 2014

The typical enterprise software startup that IPOs is at least 7 years old (to say nothing of those that try and fail). In the year before Google IPO’d, it did about $962 million in revenue. Regardless of swings in the public markets, Page, Bezos, Immelt, and Rometty expect to stay in their jobs for a while.

Long-term 14

Long-term Innovation Company IPO 14

Harvard Business Review

JULY 24, 2017

Major organizational changes, covering everything from recruiting and branding to regulatory approvals and marketing, happened in rapid succession, with a hard deadline of 12 months to get it all done for the IPO — and 18 months from the IPO until our full separation from GE.

Management 15

Management IPO Diversity Long-term 15

Harvard Business Review

MARCH 7, 2017

But with the departures of a number of high-level HR leaders in late 2016, head of operations Ryan Graves largely took on the head HR role in addition to his other duties. Today Uber is no startup, with 11,000 employees, not including its drivers, and a 2017 market value at IPO that is estimated as $28–$70 billion.

Compliance 18

Compliance Hedge Human Capital Finance 18

Harvard Business Review

JUNE 21, 2016

In 2000, with more than $100 million in negative cash flow, the company agreed to be acquired by Star Cruises, a leading cruise operator in Asia. The difference between employees who operate with the owner’s mindset and those who don’t can be as great as the difference between devoted parents and restless babysitters.

Company 13

Company IPO Price EBITDA 13

Harvard Business Review

OCTOBER 31, 2014

billion in its 2013 IPO) that investors have plowed into it. Could Twitter have chosen not to follow the standard VC-to-IPO path that has brought it to this pass? WordPress operates as an open-source ecosystem with a venture-backed corporation, Automattic , at its heart. The company has piles of money — $3.6

Marketing 13

Marketing IPO Venture Capitalist Fashion 13

Harvard Business Review

MAY 10, 2011

Consider Zipcar, whose recent IPO valued the 11-year old company at over $1 billion. Unfortunately, Microsoft tied its tablet concepts to its Windows operating system and made them merely pen-enabled personal computers, so these products remained a tiny niche of the computing industry.

Venture Capitalist 15

Venture Capitalist Venture Funding Entrepreneur IPO 15

Harvard Business Review

AUGUST 6, 2014

By mid-2004, however, the operation was mired in conflict over control and differences in management style. Zhou reportedly felt that the original Yahoos were overpaid and lazy, whereas the Yahoo team felt bullied and believed Zhou wasn’t focused on the Yahoo operations. We were ready to give Ma the keys to Yahoo’s operations in China.

Chief Financial Officer 14

Chief Financial Officer Learning-by-Doing Operations IPO 14

Harvard Business Review

APRIL 21, 2016

When financial services company Square priced its IPO at $9 a share last November, well under the $15+ price that private investors paid the year before, it was a cold shower of reality for the 6-year-old company. Until the IPO, Square had been one of more than 130 unicorns: privately owned tech companies valued at $1 billion or more.

IPO 8

IPO Innovation Price Operations 8

Harvard Business Review

MARCH 28, 2014

billion IPO valuation in 2013) can be attributed to its continued focus on that target. Using brand personality in this way is not simply about developing creative communications; it’s about infusing every aspect of your operations with your unique character. How – personality. Harley-Davidson, Trader Joe’s, and The Honest Co.

Brand 13

Brand IPO Marketing Strategy Airlines 13

Harvard Business Review

OCTOBER 2, 2013

Today’s model is using African diasporas where companies hire native Africans living abroad and then send them to the continent to expand their operations. With Facebook’s $115 billion market cap on its IPO day, Mark Zuckerberg created wealth nearly equivalent to half of Nigeria’s GDP in 2012. Education drives technology.

Education 10

Education Technology IPO GDP 10

Harvard Business Review

MAY 16, 2016

For example, as it grew, Facebook found that its early “move fast and break things” culture had to be funneled into focused technical teams and product groups to make its product development process faster and less erratic, and for it to have a chance of meeting the demands of its new public shareholders following its IPO.

Banking 15

Banking Strategy Film Operations 15

Harvard Business Review

JULY 17, 2017

It’s far from the only case of a failure to embrace a more digital approach; the larger shift to digital is changing the way every industry operates. Some industries, like photography and media, were impacted earlier. Others, like financial services, are only now experiencing this change in earnest.

Industry 16

Industry Short-term Planning Long-term 16

Harvard Business Review

OCTOBER 15, 2018

They therefore seek investors who understand their initial losses and can facilitate secondary rounds of funding when their operations grow. Gone is the heyday of the 1990s when firms with simply an idea and little or no revenues could do an IPO. Digital startups often seek to grow quickly and so report large losses.

Venture Capitalist 8

Venture Capitalist IPO Company Kleiner 8

Harvard Business Review

AUGUST 12, 2011

For organizations like Groupon, a reputation for integrity and fair trading is much of what their business is predicated upon, especially now that others are nipping at their heels in the world of discount deals and looking so carefully at their corporate structure as Groupon prepares for its IPO. Social media is a frontline service.

Media 15

Media IPO Reputation Follow-up 15

Harvard Business Review

OCTOBER 30, 2018

Dara Khosrowshahi, the CEO of Uber, the ride-sharing giant, proudly declared on September 10 that “very few brands become verbs” The same week Upwork, a platform for hiring freelancers, filed for an IPO, as did Fiverr , which boasts that it offers a “freelance services marketplace for the lean entrepreneur.”

Quinn 14

Quinn Entrepreneur IPO Survey 14

Harvard Business Review

FEBRUARY 26, 2018

On February 13, 2018, the New York Times reported that Uber is planning an IPO. Twitter reported a loss of $79 million before its IPO, yet it commanded a valuation of $24 billion on its IPO date in 2013. Its value growth is powered by the network in place, not by increments of operating costs.

Company 9

Company Intangible Assets Depreciation IPO 9

Harvard Business Review

FEBRUARY 25, 2014

After five years, in 2004, Tickle was profitable with more than $20 million in revenue; it received an acquisition offer for $100 million, as well as IPO entreaties. The most important way to mitigate risk is to become excellent at either engineering, product, selling, or operations and management.

Career 10

Career Company IPO Christensen 10

Harvard Business Review

JANUARY 5, 2011

But we also bet it isn't your usual perspective on the world of VCs and IPO lawyers. This sector operates at shorter cycle times, higher levels of risk, and over greater distances — geographic, cultural, historical — than the industrial economy is accustomed to. You get this. We know you get this.

Entrepreneur 15

Entrepreneur Innovation Intellectual Capital Mission Statement 15

Harvard Business Review

AUGUST 20, 2018

As a reminder, the dot-com crash was preceded by the dot-com bubble, a five-year period from August 1995 (the Netscape IPO) to March 2000 when there was massive wave of experiments on the then-new internet, including in commerce, entertainment, nascent social media, and search. IPOs dried up. Then one day it was over.

IPO 8

IPO First-mover Advantage Business Model Agility 8

Harvard Business Review

APRIL 10, 2013

I met Slovenian entrepreneur, Sandi Cesko, in 2007 when his Ljubljana -based multi-channel retail operation, Studio Moderna , had about $70 million in sales. For example, it is nearly impossible for scaling ventures in many countries, including Brazil and Denmark, to count on an IPO for a successful exit. Even better.

Entrepreneur 10

Entrepreneur IPO Incentives Venture Capitalist 10

Harvard Business Review

NOVEMBER 20, 2013

Since positioning is vital in new markets, today’s boards must include Chief Marketing Officers, not just directors with operations or finance backgrounds. Only a small minority thought low-cost operations would be an advantage in three years’ time. Rebrand from the inside out. That may say more about the xenophobia of U.S.

Brand 9

Brand Globalization Company Development 9

Harvard Business Review

MAY 30, 2013

Investors are involved for the long haul, understanding that startup managers will have to experiment and fail along the way to a successful IPO. Anyone who has operated inside a big corporate will tell you that for any project, you might have an executive mandate. or you might not.

Company 12

Company Ries Maturity Innovation 12

Harvard Business Review

OCTOBER 7, 2016

Here’s a generalized scenario similar to cases we’ve experienced: A hot new mobile technology company lands one of the most successful IPOs of the year. Even a rumor of a breach can trigger a communications crisis. A hacker going by the name of ‘Tumbleweed’ enters a forum and brags that the device can be hacked.

Planning 13

Planning Company Crisis Brand 13

Harvard Business Review

APRIL 18, 2014

However, cash flow from operations had shifted from positive to negative, the company’s cash pile was dwindling, and the new product would demand R&D investment. Then it cut general and administrative expenses and sales staff to contain operating losses. That helped BlueArc raise another $28 million in VC funds.

CFO 8

CFO Venture Funding IPO Retail 8

Harvard Business Review

DECEMBER 9, 2010

Why would an IPO be so bad? On it were listed operational rules and four core values: honesty (speak clearly but with respect), enthusiasm (those who don't believe don't belong), transparency (information is available to everyone), and a search for the common good (put yourself in the clients' shoes). Herzlinger is the Nancy R.

Case Study 15

Case Study Franchising Health Care Follow-up 15

Harvard Business Review

JUNE 28, 2017

The TC Heartland decision will force trolls to work where their targets’ headquarters or primary operations are based, but for most firms that includes Delaware.

IPO 9

IPO Incentives Proposal Bottom-up 9