Unfortunately I don’t think Ed will ever hire an investment bank. Though he seems to be a very morally principled man his thinking can’t help but be tainted by his personal feelings. Experience has shown how self-interest distorts even great peoples ability to think/decide correctly.
He must know that the first thing they will say to him” You did a great job persevering and bring the company to this point, but if you want this company to truly succeed it is now necessary for you to bring in a seasoned officer. Someone with experience, who can capitalize on this great opportunity that you’ve created by your vision, hard work and self-sacrifice over the past 15 years”.
I don’t think he is ready to let go of his “baby”. I’m not blaming him, I might act the same way, but unfortunately I think it is holding the company back from being valued at what it rightly should be.
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