The Success Trap: How Growth Can Mask Signs of a Deteriorating Business
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The Success Trap: How Growth Can Mask Signs of a Deteriorating Business
By Michael Smith, Managing Director, Norwood Advisors LLP
An emerging growth company is in its fourth year of life. Revenues are increasing by 20 percent or more year-over-year. The management team—frequently the founder and a few close confidants who signed on early—is excited, and its enthusiasm flows down through every level of the company,...
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Michael Smith is a managing director of Norwood Advisors, a consulting firm that provides interim financial and operations management, turnaround management, and business planning for emerging growth companies and businesses preparing for a transition in ownership. Smith’s background includes nearly 10 years in turnaround consulting, four years in investment banking, and 15 years as a C-level executive in both public and privately held companies, experience that provides him with broad perspective for assisting businesses through these inflection points.
