{"id":25,"date":"2012-09-05T12:14:00","date_gmt":"2012-09-05T12:14:00","guid":{"rendered":"http:\/\/www.ceo-worldwide.com\/blog\/?p=25"},"modified":"2025-06-11T05:00:17","modified_gmt":"2025-06-11T05:00:17","slug":"how-to-rescue-a-start-up","status":"publish","type":"post","link":"https:\/\/www.ceo-worldwide.com\/blog\/how-to-rescue-a-start-up\/","title":{"rendered":"How to rescue a start-up that is failing"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-rescue-a-failing-start-up-an-interim-manager-success-story\">An Interim Manager Success Story of rescuing a failing start-up<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"mission\">Mission<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Company: You Take Control<br>Market: Privacy<br>Industry: Health Care<br>Position held: <a href=\"https:\/\/www.ceo-worldwide.com\/international-interim-management.php\" target=\"_blank\" rel=\"noreferrer noopener\">Interim CEO<\/a><br>Responsibilities: Worldwide Sales, Marketing, Service, Support, Business Development<br>How hired: I met the founder at a conference and he hired me to come in to grow the start-up.<br>Company status when started: Burned thru $300K with no product, no partnerships, no channels for distribution and no cash to run the company.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"methodology\">Methodology used to rescue the start-up<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"1200\" height=\"673\" data-attachment-id=\"3994\" data-permalink=\"https:\/\/www.ceo-worldwide.com\/blog\/how-to-rescue-a-start-up\/pexels-photo-380769\/#main\" data-orig-file=\"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?fit=1880%2C1055&amp;ssl=1\" data-orig-size=\"1880,1055\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Photo by Marc Mueller on &lt;a href=\\&quot;https:\/\/www.pexels.com\/photo\/man-sitting-in-front-of-computer-380769\/\\&quot; rel=\\&quot;nofollow\\&quot;&gt;Pexels.com&lt;\/a&gt;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;man sitting in front of computer&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pexels-photo-380769\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Photo by Marc Mueller on &lt;a href=&quot;https:\/\/www.pexels.com\/photo\/man-sitting-in-front-of-computer-380769\/&quot; rel=&quot;nofollow&quot;&gt;Pexels.com&lt;\/a&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?fit=1024%2C575&amp;ssl=1\" data-src=\"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?resize=1200%2C673&#038;ssl=1\" alt=\"start-up failing\n\" class=\"wp-image-3994 lazyload\" style=\"--smush-placeholder-width: 1200px; --smush-placeholder-aspect-ratio: 1200\/673;object-fit:cover\" data-srcset=\"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?w=1880&amp;ssl=1 1880w, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?resize=300%2C168&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?resize=1024%2C575&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?resize=768%2C431&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-380769.jpeg?resize=1536%2C862&amp;ssl=1 1536w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading\" id=\"step-1-evaluated-the-current-state-of-the-business\">Step 1 \u2013 Evaluated the current state of the start-up<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><i>Employees<\/i><\/li>\n\n\n\n<li><i>Who to keep, who to let go<\/i><\/li>\n\n\n\n<li><i>Who was good at their jobs including the current executives<\/i><\/li>\n\n\n\n<li><i>What did they think were the problems?<\/i><\/li>\n\n\n\n<li><i>Did they have any solutions<\/i><\/li>\n\n\n\n<li><i>Product, Quality of the product, Pricing, Reliability<\/i><\/li>\n\n\n\n<li><i>Competition<\/i><\/li>\n\n\n\n<li><i>Is it a win-win for them<\/i><\/li>\n\n\n\n<li><i>Software development, engineering resources, cost of testing and QA<\/i><\/li>\n\n\n\n<li><i>Service and support, Policies<\/i><\/li>\n\n\n\n<li><i>Financial condition, Balance sheet, P&amp;L, revenues, expenses, investors<\/i><\/li>\n\n\n\n<li><i>What did they think were the problems, would they put in any more investments<\/i><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"step-2-put-together-a-plan-and-get-buy-in\">Step 2 &#8211; Put together a plan and get buy in<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><i>Worked closely with the founder and developed a plan<\/i><\/li>\n\n\n\n<li><i>Got buy in for the plan with the executive team<\/i><\/li>\n\n\n\n<li><i>If executive team did not support the plan then we let them go.<\/i><\/li>\n\n\n\n<li><i>All the team supported the plan<\/i><\/li>\n\n\n\n<li><i>Met one on one with the team<\/i><\/li>\n\n\n\n<li><i>Presented the plan to the entire start-up<\/i><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"step-3-implemented-plan\">Step 3 \u2013 Implemented the plan to rescue the start-up<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Met weekly with the team<\/em><\/li>\n\n\n\n<li><em>Monitored the effectiveness of the plan<\/em><\/li>\n\n\n\n<li><em>Raised another $2.3M from new investors<\/em><\/li>\n\n\n\n<li><em>Hired a new sales team and new marketing team<\/em><\/li>\n\n\n\n<li><em>Refined our brochures and presentation materials<\/em><\/li>\n\n\n\n<li><em>Hired a new development team and new branding company<\/em><\/li>\n\n\n\n<li><em>Developed a new brand for the product<\/em><\/li>\n\n\n\n<li><em>Changed the messaging<\/em><\/li>\n\n\n\n<li><em>Launched a new web site, created new demos<\/em><\/li>\n\n\n\n<li><em>Hired my replacement CEO from <a href=\"https:\/\/www.pfizer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pfizer<\/a><\/em><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"step-4-exit-strategy\">Step 4 &#8211; Exit strategy<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>In the process of selling the company<\/em><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-i-learned\">What I learned:<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Hire a CEO that is comfortable with start-ups<\/li>\n\n\n\n<li>Take the right amount of time to understand the situation<\/li>\n\n\n\n<li>Once you have decided to clean up the company do it quickly<\/li>\n\n\n\n<li>Play off of your strengths and minimize your weaknesses<\/li>\n\n\n\n<li>Act faster to resolve the problems<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-fe48e5de wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.ceo-worldwide.com\/executive-search-engine.php?lev=IMAN&amp;fnct_code=&amp;sect_code=&amp;miss_code=&amp;terr_code=&amp;submit=Search#home\" target=\"_blank\" rel=\"noreferrer noopener\">Find Your Next Interim Manager For Your Start-Up!<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large\"><img data-recalc-dims=\"1\" decoding=\"async\" data-src=\"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/53341.jpg?w=1200&#038;ssl=1\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">About the author: <a href=\"https:\/\/www.ceo-worldwide.com\/executive-profile.php?iman=53341\" target=\"_blank\" rel=\"noreferrer noopener\">Steven Lund<\/a> raised $40M and is the founder of 5 companies. He also was CEO\/COO of 3 technology and medical companies. He closed a $3B deal for a tec firm, restructered a company and sold its assets, and he created strategic alliances that generated $20M annually in sales.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Interim Manager Success Story of rescuing a failing start-up Mission Company: You Take ControlMarket: PrivacyIndustry: Health CarePosition held: Interim CEOResponsibilities: Worldwide Sales, Marketing, Service, Support, Business DevelopmentHow hired: I met the founder at a conference and he hired me to come in to grow the start-up.Company status when started: Burned thru $300K with no &#8230; <a title=\"How to rescue a start-up that is failing\" class=\"read-more\" href=\"https:\/\/www.ceo-worldwide.com\/blog\/how-to-rescue-a-start-up\/\" aria-label=\"Read more about How to rescue a start-up that is failing\">Read more<\/a><\/p>\n","protected":false},"author":62,"featured_media":3993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[9,32],"tags":[319,64,894,96],"ppma_author":[663],"class_list":["post-25","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interim-management","category-start-up","tag-interim-ceo","tag-interim-manager-2","tag-rescue-a-start-up","tag-start-up-2"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2012\/09\/pexels-photo-8636606.jpeg?fit=1880%2C1255&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p7XjMV-p","jetpack-related-posts":[{"id":4373,"url":"https:\/\/www.ceo-worldwide.com\/blog\/what-does-interim-manager-mean-understanding-the-role-and-importance\/","url_meta":{"origin":25,"position":0},"title":"What Does Interim Manager Mean? Understanding the Role and Importance","author":"CEO Worldwide","date":"","format":false,"excerpt":"When a company needs to fill a top management position in a short span, it appoints an interim manager. Short-term managers have a unique set of skills that can help in the business transition. Interim managers have become more popular in most industries due to their immense benefits. According to\u2026","rel":"","context":"In &quot;Interim Management&quot;","block_context":{"text":"Interim Management","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/executive-recruitment\/interim-management\/"},"img":{"alt_text":"serious multiethnic colleagues in modern workspace","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/03\/pexels-photo-5668502.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/03\/pexels-photo-5668502.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/03\/pexels-photo-5668502.jpeg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/03\/pexels-photo-5668502.jpeg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/03\/pexels-photo-5668502.jpeg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":3735,"url":"https:\/\/www.ceo-worldwide.com\/blog\/interim-management-companies\/","url_meta":{"origin":25,"position":1},"title":"How to Hire an Interim Manager through Interim Management Companies","author":"CEO Worldwide","date":"","format":false,"excerpt":"Select an Interim Management Company to manage events and operations, improve profitability, or just fill the gap between key personnel. An Interim Management Company performs a variety of functions including helping companies in transition from one business model to another. It is a management company that provides interim corporate services\u2026","rel":"","context":"In &quot;Interim Management&quot;","block_context":{"text":"Interim Management","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/executive-recruitment\/interim-management\/"},"img":{"alt_text":"man in black long sleeve shirt holding a tablet computer","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2022\/03\/pexels-photo-4960396.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2022\/03\/pexels-photo-4960396.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2022\/03\/pexels-photo-4960396.jpeg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2022\/03\/pexels-photo-4960396.jpeg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2022\/03\/pexels-photo-4960396.jpeg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":90,"url":"https:\/\/www.ceo-worldwide.com\/blog\/different-phases-of-an-interim-management-assignment\/","url_meta":{"origin":25,"position":2},"title":"The Different Phases of an Interim Management Assignment","author":"Didier Douziech - COO - France","date":"","format":false,"excerpt":"Take an inside look at the different phases of an interim management assignment. Obviously, each assignment has different requirements and focus points, but still, the course of an Interim Assignment is generally the same. One of our vetted executives, Didier Douziech subdivides an interim management assignment into the following seven\u2026","rel":"","context":"In &quot;Interim Manager&quot;","block_context":{"text":"Interim Manager","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/executive-search\/interim-manager\/"},"img":{"alt_text":"white and black chess board","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2010\/02\/pexels-photo-353644.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2010\/02\/pexels-photo-353644.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2010\/02\/pexels-photo-353644.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2010\/02\/pexels-photo-353644.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2010\/02\/pexels-photo-353644.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2804,"url":"https:\/\/www.ceo-worldwide.com\/blog\/how-to-let-an-interim-manager-do-the-job-or-a-great-job\/","url_meta":{"origin":25,"position":3},"title":"How to let an Interim Manager do &#8220;the job&#8221; or &#8220;a great job&#8221;?","author":"Didier Douziech - COO - France","date":"","format":false,"excerpt":"The background of this article are two French firms in trouble, with around one hundred employees and twenty million in revenue each, hiring an Interim Manager. These two manufacturers of industrial equipment are subsidiaries of two international Groups of about 1,000 employees and \u20ac 200 million in revenue. Each local\u2026","rel":"","context":"In &quot;Interim Manager&quot;","block_context":{"text":"Interim Manager","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/executive-search\/interim-manager\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/stockvault-businessman-and-cogwheels196020.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/stockvault-businessman-and-cogwheels196020.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/stockvault-businessman-and-cogwheels196020.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/stockvault-businessman-and-cogwheels196020.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/06\/stockvault-businessman-and-cogwheels196020.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":86,"url":"https:\/\/www.ceo-worldwide.com\/blog\/interim-management-business\/","url_meta":{"origin":25,"position":4},"title":"Interim Management \u2013 Life at the Sharp End of the Business","author":"Peter Wolf","date":"","format":false,"excerpt":"One of our vetted iCEOs shares his experiences as interim manager. This article gives you interesting and helpful tips as to the expectations of the client company and how to prepare an interim management assignment. 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