One of the most difficult crossroads a founder of a start-up company comes across is the one which feels like an ultimatum. To be a CEO and a Founder of a company at the same time is more often than not taxing beyond limits for a single person and inversely compromises with the utmost potential of each of those designations. This is because, most CEOs and Founders feel the need to take up as much responsibility as possible, be it their finances, marketing strategy or any other operative sector that is a requisite of every company.
That very moment a Founder/CEO gives up their core competency as CEO to someone else so that they can focus on vision and strategy of the company is the very moment they become a greater leader.
Most CEOs and Founders spend their time focussing on product development or extinguishing fires. A recent study shows that if CEOs do not spend at least 50% of their time hiring, they’re focussing on the solutes from the wrong end.
The first step towards maintaining qualitative momentum of a company is through hiring. As boring as this might sound at first, this is the only addressable parameter that reduces risk, increases efficiency, promotes quality and keeps the momentum optimal in the long-run. If Founders/CEOs spend their time inefficiently, they’re directly costing the company as well.
You might only end up hiring 0.75% of the people you interview, but this is NOT the place where you compromise. Any deficiency in quality or productivity that follows cannot be the fault of a hired employee. To consider yourself responsible for this potential predicament as well allows you to be cautious and uncompromising in the qualitative standards you wish to set for each hire.
Regardless of how taxing and time consuming this might seem, a Founder or CEO must understand that the greatest operational and developmental asset for a company is its employees. So, make sure you hire the right ones.