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January 28, 2019
You’ve thrown everything you have into your startup. You’ve been the one in charge from the start, making things happen, and gradually leading your startup to growth.
In the beginning, you probably had your hand in a little bit of everything – you were product developer, human resources manager, marketer, fundraiser, and several other jobs in-between.
At some point during this time and now, you might be thinking about transitioning your role into something more specific.
In this article, we look at things to consider before transitioning from founder to CEO.
First, you want to take a look at your focus. Is your main focus on developing and managing your products or services? Or, are you focused on your entire startup?
Because you are the founder, you’ve massaged the idea of your startup from the beginning, and now that the idea has become real, you need to check your focus.
If you want to transition to the CEO role, you need to be able to see the needs of your startup as a whole. You also need to be able to lead your business as it continues to scale.
You’ll find that being CEO is different than being the founder because you need to assume the role of thinker over doer.
For most of your work day, you won’t be running from task to fire and back again. You’ll need to take your time to create the big picture and then keep everyone on task.
As you transition from founder to CEO, you want to ask yourself if you are adept at leading and executing an overall plan.
Right along with this, you need to know that you have a strong team of people around you who can take on some of the everyday tasks you will leave behind.
The management team you hire should see and understand the overall mission and vision of your startup. They should be able to complement your skills and productively work to scale your startup.
Another consideration before transitioning from founder to CEO is the breadth of your leadership skills.
If you really want to assume the role of CEO, and your leadership skills aren’t fine-tuned, consider taking a class or hiring someone to coach you.
Above all, you want to do what is best for your business. To do this, recognize your strengths and weaknesses so you can best use your skills.
As you transition, take these tips into consideration as well.
According to studies, by the time most startups are three years old, 50% of the founders were no longer the CEO. By year four, only 40% still held the position, and fewer than 25% were still around to lead their companies into initial public offerings.
The bottom line when moving from founder to CEO role is to up your game. Learn what you don’t know. Give up a little control of the small details and trust in your board and your team.
To be successful in your transition to CEO, you need to know what you don’t know and be willing to work to learn it.
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Image: Foto Sushi on Unsplash
Neha De is a writer and editor with more than 13 years of experience. She has worked on a variety of genres and platforms, including books, magazine articles, blog posts and website copy. She is passionate about producing clear and concise content that is engaging and informative. In her spare time, Neha enjoys dancing, running and spending time with her family.
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