Entrepreneurs too often underestimate their clout and access to capital, said Stefania Aulicino, ’79, introducing her new book, Cash and Control: You Can Have Both to an audience at a book signing hosted by the Business Book Roundtable at Gleacher Center on April 28.
In today’s dynamic economy, the world has come to rely on business builders’ passion, innovation and capacity, and willingness to grow, she said. “It’s the business owner who excels in creating value and capitalizing on change.”
Describing herself as an “entrepreneur advocate,” Aulicino outlined her strategies for empowering business builders “to create profitable growth faster and safer than they ever thought possible with capital that wants [the business owner] in control.”
Too many people believe there is a direct trade-off between equity and ownership, expecting $500 million of equity financing to cost more in ownership control than $5 million. But it’s not true, said Aulicino. “In fact, the reverse is true. The more resources that your vision justifies, the more ownership you will retain and the more valuable it will be.”
What many entrepreneurs need to recognize is that innovation and passion won’t sell the business plan to venture capitalists. Describing herself as a “corporate matchmaker,” Aulicino talked about the need for a translator between the two parties—someone who can convert an entrepreneur’s vision for the future into the tangible economic terms venture capitalists understand. “Investors can only generate interest on their money. It takes an entrepreneur to generate profit.”
Aulicino, a first-time author, created and directs the GSB’s Mind Your Own Business program for CEOs.
Jenn Q. Goddu