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The world is your coach 29 Sep 2011

One of the great things about the web - and particularly social media like Twitter and LinkedIn - is that you can very easily get a wide variety of advice about different situations. Take this piece from Forbes magazine's web site. It comes from social media source Quora and although it's ostensibly about start-up CFOs, it's full of interesting advice for anyone in a PE situation. After all, many of the same truths are evident: you need to watch the cash, be capable of adapting the business plan and deliver excellent, clear feedback to managers and shareholders.

I particularly liked this:

For every minute you spend helping keep bad things from happening at your company, you should spend ten trying to make good things happen. If you go out of business, it will be because you didn’t hire the best people, make the right product, or sell it effectively. It won’t be because someone hacked into your conference call because you didn’t rotate the 10-digit code.