Great question! And it was literally just addressed in this podcast episode with David Skok: http://www.hubspot.com/podcast Disclaimer the information below (until the last paragraph) is about venture-backed companies. Short answer: It's dependent on the stage. Less risk = less equity. Long a...
In the clients I have worked with, the buzzword I'd use is "alignment". Alignment between your organization and this prospective CEO, in terms of values, vision and execution. Assuming for a moment that you'd only look at experienced people that have some level of skill to speak of, think not o...
Hi There are various 'models' that you can use to estimate how many shares/percentages your new partner should get. These include (a) his/her investment in time and/or money, (b) the current + potential value of the company, (c) the time and/or money that you as the original founder already put i...
Surround yourself with people who have done it before. Not consultants, not coaches, people who have walked the path you are embarking on. The good news is that the startup community is the most helpful business community of any industry, by miles. I'd be happy to do a call to help you figur...
There is no formula for that. Read as you need to. Have your mentor(s) suggest books that are specific to your needs. A good starting point might be one relevant book per month to start. There are also those book summary services that can give you the themes of the books in 5 minutes of reading. ...
I've advised 40+ startups on hiring, org structure, and leadership, and excited to take a stab at this question. The key first is defining in more detail the role you need today and the role you aspire the company will need 12 months from now. Where do they intersect? What hard skills vs soft s...
Some questions you'll want to answer before moving ahead: How strongly do you believe this idea can become a successful product? Why do you think they approached you? How comfortable do you feel running a company owned by someone else? What happened in your previous CEO role? What confidence...
Congratulations on delegating so effectively! That is most likely one of the KEY factors in your growth. Too many of us fall into thinking "how can I do that" when we come up with new ideas. A billionaire mentor told me that the better question (and how she grew her businesses to well over a bill...
I think that the answer is dependent on the level of technical talent that is already on-board. If you have an engineering focused squad, you can get away with rudimentary understanding. To your description a "non-technical CEO" is just that. Of course, whenever there is a gap in the team, it is ...
The more important first impressions to leave a VC with are: 1) That you both are credible and inspire confidence that you can execute the plan you're fundraising on. 2) That there is good chemistry and a great relationship between the two of you; 3) That you can adequately address the concerns/o...