Founders are eulogized and glamorized, but the reality is that it’s a difficult and a challenging journey that involves resilience, relentless determination and a lot of hard work. Working 75 hours or more every week for several years takes a toll. Often in our darkest of moments a silver bullet appears. One where you think, your company progress will get that much better, your team cadence will improve, and you will be closer to success. More time with family and maybe even catch-up with friends (that is if they still remember you!)
The silver bullet comes in the form of a big company executive. Founders beware of such a hire. More often than not, silver bullets don’t work.
- – Odds of replicating their previous accomplishments from big companies to your venture are low. Big companies are successful for a multitude of reasons. Superstar employees is just one of them.
- – Big company executive will distort your company culture and compensation plan. For good! You have assembled a team of passionate individuals that are driven to success and have decided to play for generational wealth instead of better wages. Big company executive will negotiate both – salary and stock options. Deep down in your heart you know this is unfair, but in your moment of weakness you agree. Hoping the company trajectory will change.
- – Markets are cyclical. Competitive landscape changes. Funding becomes scarce. You have your back against the wall – vis competition, product, feature, funding, contracts, AE, unfavorable data, infringement, production capacity, etc. In these moments, what does the senior executive do? Senior executive often retreats to safer positions at larger companies. However, your dedicated mission-focused team returns with renewed determination. They stand by you and encourage you to confront these challenges head on. As you observe their efforts, you can’t help but be amazed by their magic.
There are no silver bullets in life and at your venture. Success is the result of hard work, perseverance, and a combination of factors. However, there may be exceptions to this rule and it is up to you to find executives who have a natural inclination towards entrepreneurship, are highly self-assured, and prioritize building the company over enhancing their own resumes. There are proven ways to seek out such talent. You can play it safe by engaging them as a consultant, bring them on as an advisor, just ask for help.
Remember, the goal is to propel the company forward and secure its future success. So, embrace the challenges and hold tight to the belief that the rewards will follow. The grind may be tough, but with perseverance and determination, you will reach the finish line.
PS: if you have what it takes to create a category, be a leader and navigate the company to Nasdaq podium, hit me up. @Consure Medical is hiring.
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