This is the final follow up to our earlier post: “Student Start-Up Advice (via Twitter!)”
Question 4: Can you grow your new business without sacrificing control?
The consensus here was that, unless you plan to stay very small, eventually you will have to pass some of the responsibility for the business to others – and that is a good thing.
- Depends how big your want to grow your biz.
- Depends what your ambitions are
- some businesses get too big for one person to handle/control. Do you need a team or an exit strategy to start something new?
- I think you cannot. Letting go and trusting a careful chosen talented team is ESSENTIAL.
- I think that sometimes you have to ‘let go’ a bit, if you want to grow really big. New people will add new vigour.
- Interesting fact from #ycfconference – 80% of founders who achieve investment don’t remain CEO of their company (note from editor: that doesn’t mean they are not still involved)
- Worth thinking about which parts you want to control yourself, and which bits others are better placed to look after.