As a successful 23 year old (at the time) entrepreneur who started his business straight out of college low those many years ago and now on my 8th startup, all I can say is, “No.”
Bad advice. Bad open letter. Young Entrepreneurs, run away!
Here’s the problem, and it’s a very simple one. You advise:
“let somebody else give you a title rather than giving yourself one.”
But that’s not what Entrepreneurs do. Not at all.
They create value from nothing — even their jobs.
You want to poo-poo the guys with a Kickstarter?
Hey, poo-poo away. Some are raising millions. Many have created successful lifestyles with businesses founded on Kickstarter funds.
And this whole idea that to be a CEO you have to have a Board of Directors? Fascinating, and totally not applicable if you don’t have any outside investors that you’re accountable to.
Ironic that your own LinkedIn profile leads with you as “Managing Director”, a title that Wikipedia says is commonly given to people operating in the CEO role. Out of curiosity, do Idea Booth and Idea Kitchen both have Boards of Directors?
My own company has 1 single employee, and he is the CEO. We (must be the royal we?) get 4.5 million visitors a year to the site and it makes quite an amazing income for being a Solopreneured venture.
No Board of Directors though!