Major VC funding doesn’t follow quarterly or annual
budget cycles. When a start-up resolves a key
risk, it gets further investment. (In Manila Water’s
case, for instance, significant expansion capital
was contingent on commercial clients’ signing
water treatment contracts, rather than just saying
they would.) And when a big issue arises, the board
of a venture-backed company gathers within 36
hours. You should ensure that your shepherds are
likewise capable of assembling and making decisions
that quickly.