Very rare and almost impossible except in the startup days. Owners need to master other skills like this list to scale a company. Sometimes they help build the first product but usually people with far more talent come in and improve it greatly, as they have 15, 20 or more years experience.
Because being a CEO of a startup is the most complex job there is today. People greatly underestimate what it takes to be successful. It takes at least 10 and more likely`5+ years' experience to accumulate the experience needed for a high chance of success.
Here is a list of the skills we teach at The CEO & Entrepreneur Boot Camp:
- Marketing & Branding
- Product Development & Innovation
- Operations, customer services
- Raising capital
- Competitive Intelligence
- Market Research
- Competitive Strategy
- Organizational Development (OD)
- Industry/domain expertise
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Now the CEO does not need to be an expert in all these, but that expertise is needed on a team, and they need to understand how to manage each area including knowing when someone else is good at it to execute.
Only one in about 1,600 companies will ever break $10 million in revenue. These are almost always the ones where the Founder steps aside, bringing in an experienced CEO and a team, and understands that building the team is what is needed. It is why about 2/3rds of the Founders in VC backed companies will be pushed aside too. It takes 15+ years to learn to be a good CEO.
I have created a 3-part video course here reviewing this in more detail called The Entrepreneur's Journey here. This journey gets you to “Traction” where you can raise money because you have proven the market value proposition.
Bob Norton is a long-time Serial Entrepreneur and CEO with four exits that returned over $1 billion to investors. He has trained, coached and advised over 1,000 CEOs since 2002. And is Founder of The CEO Boot Camp™ and Entrepreneurship University™. Mr. Norton works with companies to triple their chances of success in launching new companies and products. And helps established companies scale faster using the six AirTight Management™ systems. And helps companies successfully raise capital.
Call (619) SCALE06 or email info@AirTightMgt.com for a complementary strategic consultation.