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| • | The founder factor. A company being led by its founder can be “severely limiting and a single point of failure,” one cofounder of a social-media site mused in his resignation letter. But that doesn’t have to be the case. A 2014 analysis of S&P 500 companies revealed that those led by their founders created more than triple the indexed total shareholder returns than their nonfounder-led peers over a period of 15 years. Another study from Purdue University found that founders who double as CEOs are also more likely to push for technological innovation. [WSJ] | | | | • | A healthy approach. A new group of Black entrepreneurs are launching healthcare start-ups that serve communities of color. One company, for example, offers an app that helps Black women navigate choices for healthcare professionals, while another has a website that helps patients find low-cost transportation to medical appointments. These businesses underscore how underrepresented founders can potentially tap underserved markets. [NPR] | | | | • | Why it matters. In an era when companies are increasingly expected to employ the latest technologies, to say nothing of halting climate change, leaders are intently focused on creating new businesses, a recent McKinsey global study reveals. In a survey of more than 1,100 business leaders, 55% named new-business building as one of the top three priorities at their organizations, nearly double the share of executives who said it was a priority between 2018 and 2020. | | | | • | In with the new. Building new businesses can be challenging. According to the study, more than half of new businesses have fallen short of $1 million in annual revenue or have been shut down entirely. However, organizational leaders can position new businesses for success by providing dedicated investment for new ventures and setting realistic expectations. For more on how leaders successfully approach business building, including an analysis of acquisitions, check out our latest McKinsey Global Survey. | | | | — Edited by Andrew Simon | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2021 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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