[Originally posted on Wired.com April 10th 2013]
As both a father and an entrepreneur, I can say with confidence there’s a lot of parallels between raising a kid and starting a company. Both take a lot of time and dedication, you invest a lot of yourself in both, and for both you need to know when to let go of the reins.
Like with a child, you pour your blood, sweat and, tears into making sure it’s the best it can be. However, you need to realize you can’t do everything on your own. Just as when there’s a time you’ll need to drop your kid off at school, there may come a time in a startup when you need to bring in a new CEO to augment the company’s growth and help scale.
In 2007, it was becoming apparent that NativeX could benefit from a new CEO. Since forming in 2000, the company had grown to about 60 people but it was clear that our growth had begun to plateau. The majority of our employees were young guns- most being under 25 years old.
At this time, I had won an arm wrestling contest with my two other founders so I was acting CEO. However, most of the founding team had drifted from the center and were gravitating to other roles such as product engineering and customer relations. It was about that time I recommended to the founding team that we look to bring on a CEO- we hired Andy Johnson to fill the role that year.