Founders at this stage say the same things.
“That senior hire cost us six figures and eighteen months.”
“Serious people have started asking serious questions about this business.”
“I want it to run without me. Not because I am leaving, but because that is what makes it valuable.”
The work at this stage
- Second line leadership that holds. Roles designed around a machine that works, hiring briefs that reflect it, and the governance that stops a six figure hire becoming an eighteen month detour.
- Governance and data that welcome scrutiny. Board packs, management information and controls at the standard an investor's analyst expects to find, before one is looking.
- A company that provably runs for a month without you. The test that matters for valuation, run deliberately: decision rights, cadence and reporting that hold with you out of the building.
- The diligence clock, started early. If a capital event is in view, the readiness work begins now: the model, the materials and the governance tested before anyone else tests them.