My old friend and entrepreneur Rick Lackey forwarded a great quote to me this week. It speaks to an issue that I sometimes have to deal with when working with start-up companies and CEOs (usually younger and a first time CEO) that will likely have a difficult time transitioning from "visionary" to a real life operating CEO. The problem usually stems from an ego with underlying insecurity that unfortunately hinders this transition. In order to evolve from start-up (especially one that is implementing new technologies, products or innovative business models) to an operating ongoing concern that will scale, the CEO must surround himself with and actually listen to executives that are smarter and more capable than he or she is in their respective fields. The key is to listen. It is also extremely important not lead through intimidation and to be surround by any "yes men". When I do encounter this situation I immediately recite the Serenity Prayer...
Great examples of a few well known entrepreneurs who made the transition are Jeff Bezos, Bill Gates and Michael Dell. Each of these guys have confidence and ego (you have to in order to lead and execute) but each also possess true self-awareness specifically of their own strengths and weaknesses. Each surrounded themselves early on with a management team and advisors smarter and more capable than themselves (yes, even Gates...) in order to evolve and drive their respective companies into what you see today. So, here you go...
"It's better to be in a room where everybody is getting smarter than to be the smartest person in every room."
- Dan Sullivan
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