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Timing Is the Biggest Variable
Timing is the biggest variable in success or failure of companies. I try to sit down with my CEOs before the term sheet is signed, and tell them there's a high probability that the company will fail. If you can set those guidelines from the beginning, then timing, you can move on to something that might have better timing. "I'm not sure I've learned anything except to say timing is again, the biggest variable," he says.