When businesses first start up, one of their most common mistakes is to assume that customers are the only ones who matter, says Professor Charles Baden-Fuller, centenary professor of strategy at Cass Business School.
But there's another side: the people who want to take a more long-term view of your business - the investors. 'Who, five years from now, will be the person who buys your company, or merges with you?' he asks. 'That is who you have to pay attention to'