Thursday, February 17, 2011

What should a start-up CEO be doing?

Well, one answer to this question could be:  "Anything and everything."  In some sense, this is true...a start-up CEO needs to be *able* to do just about anything and everything except perhaps some of the deep technical stuff.  But I've seen CEOs get bogged down in the science way too much, and the business side or fund-raising side of the company then suffers.  I've also seen CEOs being penny-wise and pound-foolish...spending too much time trying to save a few bucks, at the expense of losing much more in opportunity costs, or missing the market window.  What are the most important jobs of a start-up CEO?  Raising money.  Refining the business strategy.  Talking to potential customers and partners.  Keeping his team motivated and the development plan moving forward.  Keeping agile as the market evolves.  Hiring the best talent.  Keeping the company financially responsible.  Wow, now that company has a good chance of succeeding.