Leadership is critical to growth. Hire a CEO for your scale-up in time.
An interesting lesson comes from Jouri Schoemaker, CEO of Pieter Pot. Who shared in a recent episode of the Work Professor podcast that, looking back, he should have hired a CEO sooner. Jouri faced rapid growth and financial challenges, eventually leading to bankruptcy and a successful restart.
But what does "earlier" mean in this context, and how do you determine the optimal time to hire a CEO?
Time for a CEO
According to the experiences and insights of many and us 😉 This moment is when a company grows to a team of 25 to 60 employees (learn more about this stage? Download the white paper). At this point, founders have established a solid foundation, with a clear product or service and a team that works well together.
This is the moment when you transform as a founder into a true "direction giver" and inspirer, leaving the day-to-day leadership and building the team to the CEO (and, of course, the COO). The goal? Making sure you don't distract yourself and the team with an endless stream of genius ideas.
Read here: 'Why longer vacations make you a better CEO'
5 Tips when you know it's time for a CEO:
- The art of letting go: this is perhaps the biggest challenge. It's time to bring your team into the bigger picture, encourage focus and collaboration, and depend less on you as the founder. And yes, that doesn't just mean transferring your "energy killers" as well as your "superskills"!
- Separate your identity from your business: your business may be your child, but it is also important to distinguish between you as a person and your business. Not easy, but oh so important!
- Keep working 60-70% of your time on your business: use the remaining 30-40% for your personal development. Growth is not only business, but also personal!
- Clear responsibilities: make sure everyone on your leadership team knows who is responsible for what. No more confusion about who decides what! 📋
- Independence: ensure that nothing in the organization depends on one person. This is crucial for sustainable growth.
It's a big step, but as the saying goes, "To grow, sometimes you have to let go." And who knows? Maybe this is the secret ingredient to your successful go-around.
Do you have your own experiences or thoughts about this? Feel free to share them! Let's learn from each other and grow together.
Left:
- Book tips: Make the noise go away & Rocketfuel.
- Read how Swapfiets hired a CEO on time here
Build success together: grow the business and your team
Download the white paper Scale-ups & Downs:
- Learn from other scale-ups about the 3 key dynamics,
- Recognize your own growth barriers
- Do your own growth assessment