Is firing a founder CEO ever the right move? Learn about how startup founders and their boards can work together effectively to avoid the worst.
In this week's episode of The Startup Podcast, hosts Chris Saad and Yaniv Bernstein explain:
- Founder Knows Best: Why removing a founder CEO is usually undesirable, given their deep vision and commitment.
- All Above Board: Why board accountability is necessary when a leadership change becomes essential.
- Evolving Ambitions: How founder CEOs must grow along with their companies, setting goals, seeking coaching and mentorship, and engaging with stakeholders through regular updates.
- Support Before Severance: Why boards should exhaust all supportive measures, like setting clear improvement plans and providing targeted coaching, before considering dismissal.
- The Empty Seat: Know the risks you might face if you leave the CEO position vacant for too long.
Tune in for the full discussion on the delicate balance of power between a startup's founder CEO and their board.
0:00 Intro
2:23 Why boards can fire CEOs
2:59 Why firing your CEO founder is undesirable
10:26 Investors invest in founders
14:31 It's the founder's company to ruin
17:23 How to avoid being fired
18:32 Taking maximum responsibility
23:27 Grow as fast as your company
25:47 Grow the company, too
28:50 Keeping the board on board
33:49 When should a CEO be fired?
38:36 Don't be punitive
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Key links
The Startup Podcast is sponsored by Trilligent. Trilligent is your startup's one-stop-shop for regulatory, PR, and international expansion advisory. Their unique startup-friendly offering is essential for any startup looking to go beyond their home shores or deal with complex regulatory environments. Go to https://trilligent.com and book a call with their COO Laura to learn more – tell her we sent you!
The Startup Podcast is also sponsored by Vanta. Vanta helps businesses get and stay compliant by automating up to 90% of the work for the most in demand compliance frameworks. With over 200 integrations, you can easily monitor and secure the tools your business relies on. Go to www.vanta.com/tsp for 20% off their incredible offer.
Get your question in for our next Q&A episode: https://forms.gle/NZzgNWVLiFmwvFA2A
The Startup Podcast website: https://tsp.show
Learn more about Chris and Yaniv
Work 1:1 with Chris: http://chrissaad.com/advisory/
Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/
Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/
Editor: Justin McArthur https://www.linkedin.com/in/justin-mcarthur
Intro Voice: Jeremiah Owyang https://web-strategist.com/
#startup #entrepreneur #founder #firing #riskmanagement
