Have you ever seen a business plan with hockey stick revenue projections? It’s common for VCs to receive business plans showing sales growing from 0 to $100m in the first 5 years of a company’s life. In fact, growth conversations between VCs and management teams often cause angst. One of the reasons is that people from both groups tend to have unsubstantiated beliefs about how long it takes to build an important company. Maybe these conversations would be easier if we simply knew how long it takes to build a successful company? Read More