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Principle 1: Embrace uncertainty with certainty

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Dealing with uncertainty is central to venturing, so a venture board member must understand the opportunities and pitfalls of managing uncertainty. He or she should be equipped to thrive in such circumstances. At the same time, the management team expects guidance from the board to deliver a certain direction in times of uncertainty. The same applies to investors who base their investment decisions on the ability of the venture team to master uncertainty. They also seek certainty, especially when managing the time horizon of their investments.

Governance of Ventures

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