You usually hear a lot about the early days of being a founder CEO, but I'm going to try to write more about the days of being a founding CEO as a company grows. The articles will probably be shorter and more frequent. Earlier today, someone asked me on Formspring what the most under-rated quality of a CEO is and I responded very simply with this: The Ability To Let Go. Late last week, I was lucky enough to get advice from a very successful CEO that told me: only focus on tasks that you yourself can specifically do. If it's something someone else can do and it constantly eats into your time, then you should find someone to fill that role if you have the resources. It resonated with me heavily as I find Onswipe growing faster than ever before and thinking about what tasks I should be taking on every day.
You Can't Do It All YourselfAs a growing company, there is absolutely zero chance that you can do it all yourself. Even if you had 24 hours in a day, there's no way to do it all. Eventually deals will start to take time, hiring will take numerous interviews, product will be in different divisions, and more. You need to realize this and find someone who can start taking over the burdens. As entrepreneurial CEOs, it's in our DNA to feel like we can do everything. The great CEOs realize they actually can't do everything all by themselves.
Find People Smarter Than YourselfThe best way to do this is to find people that are way smarter than you in the area of expertise. A CEO has to do a great job at setting the vision for the organization and orchestrating it. When your company starts expanding, you need to find people that are just way better at the specific task than yourself. It might be cutting deals with partners in BD or finding top notch engineers. You have to find those that are smarter than you.
Make Sure You Set The VisionMake sure you set the vision as CEO before bringing people on board. Everyone needs to have cult like zeal in the mission and exact vision of what you're building. If they are not on the same page, it will ultimately destroy your belief that they carry it out when you defer your trust to them. Take the time to make sure everyone is on the same page with the entity that is your startup.
Trust and DeferThe phrase I use internally a lot is "Trust and Defer". I trust certain people with making decisions on certain areas of the company and defer to them for domain expertise. I do my job well by setting the overall course and vision for the company, so the decisions within their domain expertise fit within those confines. You have to trust the people that join your company with your life because that's literally what your product is.
It Will Hurt
There's no way around this. It's going to be a weird feeling if you're used to bootstrapping and running a company with 1-2 cofounders. When you're all of a sudden 10+ people working across the globe, it hits you in the face. It's okay, this is normal. If you've found people you trust and are smarter than yourself, it will work out better than you ever expected.
We're growing faster than I ever thought. A few weeks ago we got to the point where there are teams handling BD and teams that are handling Engineering. I've learned to make sure that the vision is set and make sure that I'm focusing my time solely on the things that solely I can do.