Tells the story of how Katrina Garnett alone started CrossWorlds, successful business enterprise applications. Focused on two issues Garnett has to contend with as it tries to control its board of directors. Council CrossWorlds carefully and slowly pursued the idea of an initial public offering, wanting to get more income traction to gain access to public markets. Unfortunately, the company was at a disadvantage, because it recognized income using conservative principles: Instead of recognizing revenue when a payment has been received, CrossWorlds recognized revenue when the product "went live" on the customer's premises. Garnett competitors to use more aggressive techniques, arguing that higher income and, therefore, entering the public markets earlier. In addition, Garnett believes that having a prominent investment banker on its board was to limit its possibilities. Many investment banks refused to even meet with CrossWorlds because they simply assumed that the business will go to a company board member. Garnett was also disappointed at the failure of the board member to step banker thinking. "Hide
by Garth Saloner, Emily Melton Source: Stanford Graduate School of Business 5 pages. Publication Date: 12 September 2005. Prod. #: E205-PDF-ENG
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