Who Runs my Start-Up?
Leadership can be a confusing concept, and it gets muddled quickly at the highest levels. This post comes from a conversation I had last week with a kid who’s startup is already funded and pulling in steady revenue, but hasn’t sorted out who is in charge.
An Executive Team That Makes Decisions
They’re the ones who are actually running the day-to-day operations of our company. The executive team shouldn’t be confused with the founding team — and that’s the first thorny issue we’ll dive into.
Most entrepreneurs err on the side of handing out co-founder status to individuals who are indeed critical to the company’s formation, but not necessarily individually critical. Co-founders are the folks who have unique talents and experience and personality that will make or break the execution of the initial idea.
A Board of Directors That Guides, Not Meddles
Once we have an executive team, we can operate like a company. Now, there’s a right time to develop a board, and that time is usually when revenue is coming in at higher levels or when we’re seeking investment.
Advisors and Mentors Who Provide Real Help
Advisors and mentors don’t have direct decision-making authority, but they do have substantial input into and influence on those decisions. That’s why they’re there. There aren’t a lot of hard and fast rules about who our advisors and mentors should be or how they should operate, but there a few things we should keep in mind.
For the full article please see the following Medium post: