Entrepreneurs often are successful because of their initiative, creativity, and willingness to take chances -- along with some measure of luck. Also important, however, is an entrepreneur's ability to recognize his or her inability to do certain things, and to show the initiative and courage to delegate areas that are either not to his or her liking or not among his or her strengths.
I have been grappling with this problem for some time, and find it difficult to relinquish the reins of certain managerial duties. However, as a company grows, the choice between leading it and managing it often must be made.
Editor's note: "Who's in Charge Here?" by Tom Richman (June), reports on one founder's experiment with stepping down -- but sticking around. Ladin is founder of ComputerCraft, chairman of the board, and number-one shareholder. He became vice-president of marketing when he hired Frison to be president, chief executive officer -- and his boss.