Curse of the Founder
by Randy Gage
One of the biggest decisions every entrepreneur faces is knowing when they are in over their head. Because the mindset it takes to be a brilliant, visionary founder is pretty much the exact opposite of the one it takes to manage an ongoing business. And surprisingly, the skill it takes to start a business is quite different than the skill it takes to grow a medium size business into a huge one.
But we’re the FOUNDER, the one who dreamed it all up! We can’t believe that anyone can take care of our baby better than we can. Big mistake. (Case in point: Steve Jobs round one versus Steve Jobs round two.)
This is the single biggest issue I face when working with clients. The owner not knowing when they’re in over their head.
The best visionaries in any organization – are the ones with the vision to know when it’s time to fire themselves.
An awesome post! an excellent reminder of the worth of taking time to create a powerful vision! thanks for sharing
This reminds me of an experience working under the founder/CEO of what might have been Skype.. Brilliant creative/engineering mind who made one bad business decision after another of which the biggest one was hiring his live-in girlfriend (a graphic artist) to be the COO..The company had engineered the most cutting edge PC based VoIP solutions in the world and ended up going under.. a shame!
So yes, Randy, I agree wholeheartedly. And as the founder of nVizhon Media, I have no intentions of being the business mind but will stick to my strengths as the creator and visioneer for the future.. Thanks for another great reminder :)
Unbelievable or maybe it is all too believable how ego gets in the way... look at pro sports and the disasters from owner interference Jerry Jones, Al Davis etc... but the owners who hire good people and stay out of the way.. Robert Kraft, Mike Ilitch have nothing but success...must be fine line to know when to let go and keep in it.. that's why I love watching Shark Tank/Dragon's Den.. when the Sharks/Dragons nail someone for not being into their biz enough.. or on the other hand not knowing when to take a good offer and let go some control...
!!! but that means people need to dis-connect from themelves and let go of what was so precious one day. They maybe can´t, due to lack of new visions. Maybe their dream was to stay there for good instead of limiting their business-connection until "this" goal is reached.
Q. is: what was their biz-/future-vision when they started? Alternative to ever let go and sell it?