6 Questions to Ask Before Starting a Business
5. Can you accept that your company may outgrow you?
Some entrepreneurs love to brag that they don't need an exit strategy, because they are not going anywhere. But at some point, your business may need you less than you need it. That's particularly true at fast-growth companies, at which entrepreneurs may not have enough time to develop the necessary leadership and business skills. Mayer has seen founders bring in presidents or senior executives from the outside, only to sabotage them. "They do it by not giving them the necessary information," says Mayer. "They do it by not stepping back and by involving themselves with managers in a way that is inappropriate in the chain of command. They can be disruptive during meetings."