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After the implementation of
the Assets Management Construct,
and the entrepreneur has put into place for access the seed venture
fund, the entrepreneur is then ready to take on the task of
founding the venture corporation: The inception of making manifest
the vision; through which the production of the end-result of the
vision is made.
In all assessment the term
"venture corporation" as being used here is not anything exotic, and
in this regards, the term venture corporation is as applicable to an
entity legally organized to specifically provide Environmental
Pollution Control Ions Technologies, as it is applicable to the
entity that is legally organized to cobble together a group of
street-block corner stores into a Corner-Stores Corporation, or to
cobble together a group of auto-mechanic shops into an Auto-Repairs
Corporation, or even an entity legally organized to develop
software for managing widely distributed group of Solar Power
Collectors. The point is that a venture corporation is simply
an entity that must have, as the limiting state of its evolution,
the structure of a corporation and has the underpinning of a vision
of an entrepreneur - which very often though has discernable
intrinsic innovation.
The founding of the venture
corporation, in every case, entails the transformation of a
corporate shell into an operating company, with the entrepreneur
essentially beginning the execution of the Growth Tactics
Implementation Plan [otherwise the Appendixes of the
Business Plan]
of the corporation. This task of executing the Implementation Plan
consists of two main tasks and five subtasks.
The two main tasks are
the implementation of the organizational structure based on the
target-stage, preferably Prime, of Corporate Lifecycle curve, as per
the Business Plan, and the rapid institution of the corporate
business functions processes as delineated in the Business Plan
Appendix of Corporate Operations. These business function processes
of the Corporate Operations as delineated as the characteristic
business processes are instituted in the sequence as developed in
the implementation plan.
Though often not paid great
attention in the founding of corporation, but nonetheless extremely
important are the five subtasks:
- the establishing of Critical
mass
- the development of the
Shadow Organization
- the development of the
Corporate Culture;
and the failure to
implement these subtasks with the urgency that they require are
often the cause of many business failures as well. The entrepreneur
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therefore must take great
care and pains to ensure the execution and implementation of these
subtasks. The discussion presumes a
start-up phase following the readiness to go to market, and as such
positions the entity for the first of the tasks of the establishing of critical mass.
A new business is
better off defining a critical mass of the business and aiming to
evolve the business into that state during the initial founding of
the business, the business growth plan must properly partition the
business into the initial critical mass and attainment of
first generation growth goal. The state of business critical mass is
that state which a business must attain - as per the Growth
Strategic Business plan - to survive. Critical mass is defined by
short term operating needs only, and is the point in time in the
evolution of the business before it has quite optimized its
operations, has all the first generation products as part of the
product-line but when the business is able to meet the orders of its
customers, and can function as an operating entity. In effect, this
is the state when a venture can be deemed to have transformed from a
corporate shell into an operating company.
In tandem with the establishing
of the critical mass, the entrepreneur must rapidly but stealthily develop
and implement the Shadow Organization as designed and documented in
the Business Plan. The rapid adoption of the shadow organization is
particularly essential during the times of rapid employee turnover
in order to keep the true operations of the organization
confidential and therefore not understood well enough by the
departing employees to communicate to the competition. This aspect
of forming the shadow organization is so critical to the founding of
corporation, for the purposes of availing the corporation the
time-span needed to establish its footing in its markets, that the
entrepreneur must have several related back-up designs through which
to cycle whenever large number of employees leave for the same next
employer.
The second aspect of
founding the venture corporation which is equally critical to the
survival of the corporation is the Corporate Culture. Often
overlooked, the evolution of the corporate culture in tandem with
the employment of the staff is crucial to the gelling of the
employees, the establishment of shared vision and the cohesion of
the several department fiefdoms that characterize corporations. The
existence and survival of business entities, after the death of the
owner, is known to depend on the strength or weakness of the
corporate culture prevailing at the death of the owner. The
entrepreneur therefore must rapidly inculcate in all employees the
corporate culture even as each one is being hired in order to ensure
the survival of the corporation at all times. Besides the support
that the corporate culture provides to the start-up venture
corporation, the well-designed
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corporate culture also provides the entrepreneur a means of
monitoring the employees with a pseudo intelligence network within
the corporation, as to alert the entrepreneur of any
impending danger from any employee. The serious entrepreneur ought
to consider an adaptation of The Art of War by Tsun Tze, the
greatest military strategist that ever lived, to the end of
developing an effective corporate culture for the venture
corporation. This framework for an effective corporate culture is
also the basis used by most nations for the respective intelligence
networks operating within the borders of the nations. |
