As companies changes and grow, so too founder roles, responsibilities and opportunities for leadership growth.
2 distinct phases:
Despite the stereotype, Founders do make great CEOs but there needs to be a transition from ‘product-founder’ to ‘founder-CEO’.
The ‘North Star metric’ term is usually used in the context of picking KPIs but it has a broader meaning. It’s about understanding what one thing you are trying to achieve - in order not to get distracted or led astray when things get tough or change course.
You need to identify the highest leverage constituency and choose your North Star based on what creates the most value for them.
If you try to please everyone, you will end up pleasing no one. Tightly define your North Star as early as possible and try hard to stick to it as you and your company grow.
Develop a deep understanding of who all your constituents are - what their needs and incentives might be, and how to manage their competing demands. Employees, advertisers, partners, investors.
The more advice you can get, the more mentors you can find, the more feedback you receive, the better. You need to be constantly learning and getting better at what you do.
Listen to your community, which includes the team and lean on them more.
Beyond removing yourself a bottleneck, this is also about finding a way to free up your time so that you can focus it on the highest-leverage activities. Two of the highest leverage and often overlooked areas for high-growth CEOs are internal communication and recruiting.
Be mindful that you shouldn’t delegate everything. Keep all the unique things you do that made you successful. If you’re particularly effective and something critical for the company, it’s okay to keep in in your hands.
Deliberately build trust with a large group of people who may not know you.