I agree with him. It’s a guideline. Obviously, there are wonderful examples of partnership — Jobs and Wozniak, Brin and Page. But in a small business someone has to be the champion of the product. Someone has to lose sleep worrying about meeting payroll at 3 AM. Someone has to take responsibility for bringing in the revenue. It’s hard to find partners who will share all of those responsibilities equally. I think in a lot of these small businesses he discusses it’s better to have one person in charge. Take on board members as minority investors if you want advisors, but leave operational direction in the hands of one person.
I’m a little shocked this guy can vacation all the time, but his method for developing responsible managers is insightful. I also think those people may be more plentiful in small towns. In big cities, workers have more career and social opportunities and diversions.