9.16.10 by Dov
Steve Blank had a great post today on the danger of losing sight of the forest for the trees. We see this a lot with portfolio company management teams (and have been guilty of it ourselves from time to time).
So much of creating a successful company comes down to luck, but while the appearance of a valuable opportunity may be luck, you can only benefit from it if you’re willing to take advantage of an opportunity “outside the plan”. The danger comes when you cross the fine line between seizing opportunities and just chasing after every new idea that walks in the door – and not being able to execute on the base business in the mean time. Entrepreneurs and their boards (of advisors, as well as directors) should take care to stay on the right side of that line, but need to be willing to stray off the path every now and then in pursuit of a unicorn.