If you’ve got entrepreneurial goals, this is the classic model that’s been drilled into our heads:
The founder has a vision of how to change the world. He partners with other co-founders and hires people who can execute on his vision. After 6 months of hustle, toil & sweat, which involved breaking the rules, and throwing so many off the wall ideas out there, you have a business. You’ve successfully launched an idea into a working vehicle to create wealth.
Now is the time for the business to grow, systems are put in place, more people get hired, and slowly this startup starts to look like a corporation, and the founder becomes bored as hell. But he has to stay on, because this is his baby. This is what he gave birth to the world, and he has to shepherd it to IPO.
Or does he?
I just saw this brief 2 minute video of Mark Suster & Fred Wilson (2 excellent VC’s) discussing this.
If your strengths as an entrepreneur are in the early stages, of executing upon an idea to make it into a business, and not in managing and growing (and the other tasks of a CEO) why stay on as a CEO?
Why not capitalise on your strengths, hire a CEO, and stay on the Board, and go start another baby. You’ll have a more impressive portfolio, get that sweet Serial Entrepreneur title, and create more wealth as a result.
Capitalise on your strengths, the market will reward you more.
(Featured image by Carlos Alcocer Sola)