Equity value creation, in my experience, does not follow a smooth, straight path or a predictable timeline. It zigs and zags, stalls and spurts. Therefore, forcing a company into a certain path of possibilities or tight timetable is often counter-productive.
I have found it to be helpful to give a company space to let opportunities develop and time to find its own cadence of growth and development. To do that, the company needs to have alignment among its sources of capital, management philosophy, financial sustainability and employee expectations. Often, being sustainably profitable is key to controlling your destiny and allowing the serendipity of equity value creation to happen.