Entrepreneurs vs. CEOs- The Founder’s Dilemma
Entrepreneurs are not CEOs, but wait…exceptions are always there.
A lot of people do not understand the difference between an entrepreneur and a CEO. And it’s not their fault. Everybody wants to be the next Zuckerburg, Steve Jobs. Everybody wants to create next Uber for everything. However, successful CEO-Founders are very rare.
FYI: Apple co-founder Steve Jobs didn’t become CEO until 1997, 20 years after Apple was incorporated. Larry Page became CEO in 2011.
You don’t get to be the CEO, just because it is your idea or business. This is the hard cold truth that every entrepreneur needs to accept.
Thousands of businesses shut down every week in India & United States because of this mistake. However, there are some who can perform both roles at the same time.
Founders, usually, are in so much love with their idea that they think only they can lead their start-ups to success. They think they are the ones with the vision, so they should be running it.
It is your idea, your startup, your baby, your emotions & I get it, but the market doesn’t care.
Founder may be the best person to lead the startup during initial stage, but as the company grows, skill set required to run the business changes.
Many entrepreneurs are overconfident and naive about the future problems. Entrepreneurs’ passion and the ability to inspire people are not enough to make a business successful. You need right people to create successful companies, people who understand the market, business and share your vision.
I am not saying you shouldn’t be the CEO. It is your company, take whatever position(s) you want, I don’t care. But if you want to be a successful Founder-CEO, you need to have the guts to make tough decisions according to your company’s needs & goals and stop being romantic about your idea. Being practical is biggest factor to any start-up’s success.
I believe entrepreneurs should look deep within themselves, they should go all in on their strength and hire people where they lack expertise. Hire a CEO who can run business better than you so you can create the product, the culture, and the values for your company that you always wanted to build.
You can’t do it all. Let someone else do it for you because somebody’s 8 is better than your 10 if it allows you to focus on more important things that are also vital for your start-up’s success.
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