tale of lynx

Topics: Entrepreneurship, Venture capital, Startup company Pages: 8 (1011 words) Published: November 16, 2014
The Tale of Lynx case

The most critical choices faced by James Milmo, early in founding of Lynx are as follows:

Going to Business School or not?

He always wanted to be an Entrepreneur

He knew that a new business is a risk

So he wanted to make sure that if business does not work, he should be able to be back to Business School

Therefore he did first semester

It was a good decision as he was trying to play safe and he knew what he was doing to himself

Partnering with Doug Curtis or Not?

Doug Curtis was a Veteran Entrepreneur

Having worked with Doug on past ventures, James was aware of him and his skills

Idea of Real Estate failed and James Milmo does not have great confidence on him

No Trust Factor, No Compatibility between the two

Doug's interaction with his own friends and family was good

Nobody else could listen James' Raw plan and show support at that time.

Good Decision to Partner with Dough at that point of sensitive time.

Partnering with Javier Pascal?

A tough Guy and people respect him

Trust and compatibility between Pascal and Milmo

A software expert, considering that software was architected in a scalable manner thus enabling Lynx to change their strategies few times and was able to adapt to those strategies

Looking for Business Opportunity

A good decision By Milmo

Equal Distribution of equity?

Milmo wanting all three to get equal equity

Curtis not ready and creating platform to throw Pascal Out

Milmo mediating and creating a compromising platform

Pascal give up to take 25%, others two to divide 75% equity

Good decision involvement by Milmo, not to let go Pascal out

Doug Curtis paying himself more than what partners agreed to pay, what to do?

Creates a fight between Curtis and Milmo

Milmo feels bad about his decision of taking in Curtis, but do not want to blow up the company

Decides to handle it privately between him and Curtis, and does not make a fuss out of it

A good decision at that point of sensitive time

Making Curtis as a CEO

Co-founders established Lynx with the triumvirate structure.

Milmo was President and Chairman, Curtis was CEO, and Pascal was CTO.

Milmo and Pascal were appropriate for their positions, while Curtis, who had years of sales experience for VC-backed companies, was suitable for marketing or raising funds rather than CEO

CEO is a people's job and , Curtis was a failure in this role

A bad job of Making Curtis a CEO

Milmo looking for Renaissance People

Less people and more skills- a good deal

A good job of finding multi-dimensional people

Hiring a Human resource officer

Initially Milmo did all the hiring for 'Renaissance People'

Milmo has no trust on others in judging people

Milmo has trust on one friend who can do this job nicely

Calls him and hires a costly 'Head of hiring' at $ 45,000 for 3 days a week and on some self-convenient terms and conditions

A bad job of hiring such a costly 'Head of hiring' for a startup company like this

Inviting guests to talk about issues that might interest to Lynx employees and lunches

Curtis not able to create a good culture in organization

No leadership from Curtis

No defined roles and responsibilities

Renaissance People, they are creative people who cannot live in boring and monotonous environment

Employees starts leaving

Organizing such sessions from experienced speakers was an interesting affair to employees

A good Job to retain employees

Increasing salaries of employees to retain employees at Lynx

Curtis not able to create a good culture in organization

No leadership from Curtis

Employees starts leaving

To retain employees, Company increases their salaries

With time, employees' salaries are higher than founders

A bad job to retain people

If I were James Milano, I would fight back against changing my strategy:

The change, demanded was to re-shift from...
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