A critical question to ask when bringing in a new CEO to take the reins of a company you started is: Do you want someone who will maintain company culture or reinvent it?
Sentiment: POSITIVE
You won't find a CEO who doesn't talk about a 'powerful culture' as a source of competitive advantage. At the same time, you'd be hard-pressed to find a CEO who has much of a clue about the strength of that culture.
I described the CEO job as knowing what to do and getting the company to do what you want. Designing a proper company culture will help you get your company to do what you want in certain important areas for a very long time.
Am I as experienced, or mature, or smart as others CEOs? No probably not, but there's something, I think, very useful about having a founder as the CEO.
There are pros and cons of experience. A con is that you can't look at the business with a fresh pair of eyes and as objectively as if you were a new CEO. Fire yourself on a Friday night and come in on Monday morning as if a search firm put you there as a turn-around leader. Can you be objective and make the bold change?
I think if there's any difference between me and a traditional CEO, it's that I've been unwilling to change myself or shape my personality around what's expected.
Talent is the No. 1 priority for a CEO. You think it's about vision and strategy, but you have to get the right people first.
If you want a CEO role, you have to prepare for it with a vengeance.
When you're CEO, you have to have two conditions: first, shareholders need to trust you and want you to head your company. The second is that you need to feel the motivation to do the job. So, as long as both are reunited, you continue to do the job.
Whether you stay private or go public, after all is said and done, a CEO's job is to create lasting shareholder value.
I seek out a lot of advice from other CEOs.
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