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June 09, 2004
Private Companies are different
If you've ever even thought about taking your business public, or wonder why I rant so often about the beauty of staying private, check out Rob's post over at BusinessPundit about Cargill. This is a private, family owned company that would be one of America's biggest 20 companies if it were taken public.
Private companies are, indeed, different. Entrepreneurs make a huge mistake when they assume that an IPO is simply a financing mechanism. It begins a process of change the will forever alter the company culture and its purpose.
Cargill's Staley is an amazing CEO and has a unique challenge being an "outsider" CEO of this family business. I had the priviledge of getting to know him when his son was one of my students at St. Thomas. You could see how well he fit into Cargill's culture. It was clear that he was being groomed for the CEO role as much for his character as his business acumen.
Posted June 9, 2004 05:47 PM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
