Do you think startups owners can be successful as successful managers of the company, especially if they have an unique and successful product. I know every startup thinks that his product is the best and nobody can understand the running of the same much better then the owner, but do you thinks it is advisable or should they just hire experts to take the company forward and take a back seat.
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It is true that a good percentage of owners or entrepreneurs don't fully realize the work involved in effective execution of their business ideas or plans. While they may hire experts, I don't think they can or should take a back seat but get hold of the requisite skills through proper mentoring, training and guidance for sustained success.
Reply:/Entrepreneurship is of 2 types - one who driven by passion and the other who is driven by opportunity..... in both cases they are bound to have limitation at different stages.....
One of the fundamental belief that should sink in is - "what I can do is so much....and we can do will be much more"......and also it is important to build a structure to the organization at a formative stage......there should be clearly defined functions and resources to be aligned to the function.....
The CEO in most cases would be handling multiple roles and as and when the organization goes through growth the CEO can start letting go of some function and start handing it over to professionals with the right experiences...
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A succesfull Entrepreneur is one who can start the business and run the same. May be as a n CEO/ MD what so ever. Its his/her own baby, so special care and dedication is required. It comes with time. They should not take a back seat at all. they should hier people and train them to understand the product/services the way he/she knows it. Visit my group Chinict, you know more about the same.Reply:/
Yes, they can be successfull CEOs/Leaders perhaps they keep a few things in mind and consider a few things. They must treat the company as a their own baby so that they know how to nurture it, set the correct expectations, set the correct milestones, timelines. Not to over expect meaning not to start expecting a profit from the day 1 or 6th month like u dont expect your baby of 1 year to start running / gossiping. The other factor to be considered is to take care of the people who join you in begining, have their comfort zone. Not only old employees, but the other employees also. Moreover, it must be a fair combination of types of leadership but with a greater transparency in the working. No game playing. If these factors are considered, no one can stop the CEO to be a successfull CEO/Leaders as during this phase the company will grow, have revenue, profit and they will have all the reasons to cheers.
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Plenty of 'scientific' research has been done in the past few years to understand the entrepreneur's psychology. Similarly, lot of authoritative work has been done on scaling up of a business, management transition, etc. I would summarize the my reply into the following points:
1. Majority of the entrepreneurs appear to have inherently deficient with CEO skills!
2. The entrepreneurs who manage the transition successfully seem to team up with people (in the capacity of partners, employees, consultants, etc.) that have the skills they lack.
3. Promoters carry phenomenal amount of business knowledge. The companies which manage to hold on to their promoters through the growth phase seem to have substantial advantage against the companies which fail to.
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all respected seniors,
i am glad that i joined linkedin.com and got some really interesting and very
very enlightening views.
mr. salgame
your quote "what I can do is so much....and we can do will be much more"
this will be my motto for the rest of my carrier.
thank you sirs very much and keep it coming
check my post at linkedin profile at http://www.linkedin.com/groupAnswers?viewQuestionAndAnswers=&gid=54235&discussionID=1909952&sik=&trk=mywl_artile&goback=.mwg_*2_1
