In a new article for Entrepreneur, investor Liron Petrushka says that startup CEOs who are also founders need to be able to "let go" of certain responsibilities as their venture grows. This includes day-to-day concerns as well as major responsibilities. To truly succeed the best CEOs must know how to delegate and surround themselves with great people so they can concentrate on funding and improving sales.
Building a strong team helps not just the company but the CEOs themselves, who will feel confident in assigning roles to specific c-level staff members so they don't need to "micro-manage." This extends to hiring itself: while CEOs may be very involved with hiring at first, Petrushka says that eventually they shouldn't have to worry about this function, the same way they shouldn't need to worry about filling up the water cooler on their own.
"Once the company is growing, and you're looking to hire and offload some of this responsibility, you should look for people who are not going to do the job exactly as you would," he writes. "Instead, surround yourself with great people who bring different experiences, fresh thinking and opinions to the table, and who are complementary (not identical) to your style."
Although founders may believe that they are the center of the company, that doesn't mean that they have to overstretch themselves when another member of the c-level suite could be better for the company as a whole. Knowing when to "let go" of a certain task or responsibility could be an important asset for the CEO that signals to others that he or she is mature and ready to run a major company.
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