How High CEOs Set the Stage for Progress
NFX | Gigi Levy-Weiss | Jan 26, 2023
An neglected key to development: How properly you transition from Founder to CEO determines how your organization scales.
- Seed stage Founders have a hand in all the things: advertising, hiring, product, gross sales, all the things. You must early on. However when your startup begins to develop you’ll be able to’t – and shouldn’t – maintain doing all of it your self.
- The deceptively easy secret: Elite CEOs construct programs.
Learn: Tradition and Range Management: Story of Two Doorways
- Hiring: Earlier than we dive into programs, let’s get this out of the best way. Don’t fear about spending an excessive amount of time on hiring. Take the time you should encompass your self with the suitable folks[, and don’t be afraid to try people out’.
- Wix CEO: “I cycled for 22 people before I found Omer Shai, my CMO. I hired and moved people to different things. I fired people. It was around 22 people that they hired within about a year and a half…When I got to Omer after a few weeks, it was obvious he was on a different level. “
- Testing: You can’t tell who is going to be a “super talent” in an interview.
- Titles don’t matter: Wix lets employees set their own job titles. That allows you to wait, see who performs the best, and give them that role later on.
- Fix mistakes quickly: My philosophy on this is that A players hire A players A+ players hire A+ players. B players hire C players. C players hire D players and D players hire F players, right?
- Measurement systems: Most Founders are good at measuring core KPIs, and bad at measuring support tasks. Here’s how we suggest you approach measurement:
- If you can’t measure it, it didn’t happen. Share measurements widely
- Differentiate between Good Failure and Bad Failure: Good failures happen when an underlying assumption is wrong. Sometimes you execute something well and it just doesn’t work. That’s okay. Now you know not to repeat this experiment.
See: The Silent Mental Health Crisis: Leadership Burnout
- Speed/productivity:
- Every project has a clear owner
- No waiting in line for resources
- Kill useless meetings. Redistribute responsibilities within projects to cut down on meetings.
Continue to the full article –> here
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