Colin Barry

Les is More (FD, Monday, Week 8)


When founder-CEO is replaced: 32% leave the venture, 26% stay as CTO, 11% stay as COO/President, 25% stay as another C-level position.

First non-founding CEO frequently brought in to cross the chasm (or immediately after crossing):

Left of chasm: Need traction in the market   <= Founders
Right of chasm: Need business fundamentals, scaling, new skillsets, things founder doesn't want to do (fire his brother, the CFO whom the venture has outgrown)   <= Non-Founders

Les' super-simplified checklist for screening new ventures
-- Do they want me?
-- How would I transition in?
-- Do founders understand their roles moving forward?