VC Cliche of the Week

« The Concretes | Main | Chill Out Guys »

VC Cliche of the Week

This week I am going with a cliche that is not specific to the venture business, but I've modified it slightly to reflect the way I use it to talk about founders and CEOs.

I often look at a founder or a CEO, see the tired eyes, an anxious twitch in the cheek, or a missing beat in their step and think to myself or say outloud to others - "he's got the weight of the company on his shoulders".

Being the founder and/or CEO is heavy duty. To use another cliche, "it's lonely at the top".

There are some leaders who seem to bear the burden with ease. Our president would be in that camp, but recently even he seems to be showing the strains.

But most people, regardless of how well prepared they are for the role, will find being the leader to be a thankless role at times.

Everyone inside the company is looking to you for answers, for leadership, for direction, and on top of that, they want it with a smile and a pat on the back.

Try doing all that on a day when you find out that the numbers were awful the past month, that your CTO is leaving to do another startup, and your lead investor is giving you a hard time.

Frankly, its a thankless task most of the time. Because who do they report to? A board, not a person. And a board is a lot less likely to provide day to day management and support. Groups don't do that, people do. And unfortunately, a board is a group not a person.

Now I try hard to provide some of that day to day management and support to the people who run the companies we invest in. But "try" is the operative word. I don't do as good of a job as I'd like for a bunch of reasons, including the fact that we sit on a bunch of boards (we try to keep it to no more than six) so we've got a lot of "mouth's to feed", the fact that we have an agenda (to make money) that isn't always directly consistent with the CEO's agenda (to keep the company moving forward and keep his job), and the fact that I've never had a CEO job so I really don't know what it's like to do that job day in and day out. I suspect I'm pretty good at providing management and support given all those limitations.

But my advice to founders and CEOs who find that they have the weight of the company on their shoulders is to get some help.

And there are two sources of help I recommend.

The first is inside the company. A CEO/founder must surround themselves with people who they like, trust, and can lower their guard with. The best leaders have a "kitchen cabinet" of people they can be completely honest with and who they rely on for advice, counsel, and support. It is tricky to provide that back to the same people who are providing it to you, but you must try to make it happen.

The second is outside the company. I encourage every CEO/founder I work with to find someone that they can meet with at least once a week to talk to about their hopes, dreams, challenges, anxieties, and fears. I don't normally suggest a shrink, but a coach or a mentor who has no other agenda than to be your counsel and friend is critical. Most of the successful leaders I know has someone like this, at least for part of their stint on the job.

The bottom line is being a founder/CEO is a really hard job. It's even harder if you've never done it before. If you find yourself being slowed down by the weight of the company on your shoulders, find some people you can trust and be totally honest with to help you carry the load.

Comments (10) | | TrackBack (13)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451b2c969e200e550367d838834

Listed below are links to weblogs that reference VC Cliche of the Week:

» Caring for the Leader from DaveShearon
Does that title strike you as strange? I suspect it does. But leadership is tough, and yet most of us give little thought to the care and feeding of leaders. They have to do it themselves, and, what's more, they virtually never get even a suggestion th... [Read More]

Tracked on Aug 10, 2005 7:15:16 AM

» Fred Wilson on "The Weight of Being a Leader" from Feld Thoughts
Fred has another great post up this week in his VC Cliche of the Week column on the cliche “he’s got the weight of the company on his shoulders.” If you are a CEO or a senior exec who feels the weight of the business on your sho... [Read More]

Tracked on Aug 10, 2005 11:39:32 AM

Tracked on Aug 10, 2005 11:40:21 AM

» Lonely [but Fun] at the Top from Small Town, Big Ideas
Fred Wilson, a venture capitalist whose blog I follow, wrote a great piece today on how being the CEO or co-founder of a company can be a tough, thankless job (he did admit he’s never been one—props for your truthfulness [Read More]

Tracked on Aug 10, 2005 6:54:25 PM

Tracked on Aug 10, 2005 6:57:18 PM

Tracked on Aug 10, 2005 6:59:35 PM

Tracked on Aug 10, 2005 7:02:39 PM

» Reading List August 10, 2005 from Jon Lowder
The Weight of the Company on His Shoulders (A VC) - In his 'Cliche of the Week' Fred Wilson talks about how CEOs who have the weight of the company on their shoulders can deal with the 'lonely at the [Read More]

Tracked on Aug 11, 2005 12:00:36 AM

» An Important Rule of Success from The Post Money Value
Hire people smarter then you and stay out of the way. The details. I had a meeting this morning with the founder of a software company. For the first 6 minutes (he timed it, not me), Tim explained his vision of what he thought would [Read More]

Tracked on Aug 11, 2005 7:57:44 PM

» What to Blog? from EntreWorld Weblog
Today we had a great session with our "Entrepreneur Editorial Advisors" or EEAs, Sue Hesse, Gab Goncalves and Bill Payne. They have been working with us on our new website that we will be launching this fall on what the site should contain an... [Read More]

Tracked on Aug 15, 2005 7:50:07 PM

» The Entrepreneurial Team from AsianEntrepreneurship.org
In today's context of entrepreneurship, we talk about nurturing the entrepreneur, finding the entrepreneur, enabling the entrepreneurs. There are even courses available now teaching you to become an entrepreneur as if all it takes is a singular individ... [Read More]

Tracked on Sep 3, 2005 1:38:00 AM

Tracked on Oct 27, 2005 10:40:59 AM

Tracked on Oct 29, 2005 3:48:59 AM

Posted August 10, 2005 in Venture Capital and Technology

Comments

Whether it's YEO or YPO, I've found that there's no better support than a forum group. Not a weekly, but a monthly-- and like having a personal board of peers.

Posted by: Mike Orren | Aug 10, 2005 8:25:56 AM

I can echo Mike Orren's comment. I'm a YEO (recently rebranded EO) member here in London and the forum is an invaluable place for being open, honest, supported and supportive. It's the only environment of its kind that I've found. www.eonetwork.org is the relevant URL.

Posted by: Evan Rudowski | Aug 10, 2005 9:02:10 AM

Your friendly lawyer can help as well (if you trust him or her). I spend as much time doing this as anything else in my practice. The important thing is to have at least one person in your circle of advisors who has been there before and, from experience, can provide meaningful and relevant feedback.

Posted by: JayR | Aug 10, 2005 11:59:07 AM

Just to round out the resource list for CEOs and founders, TEC is the world’s largest membership organization of chief executives, over 11,000 members world-wide. www.teconline.com

I was a former Member and now Chair TEC Groups in New York.

Posted by: Joe Hunt | Aug 10, 2005 6:53:46 PM

Amen, Brother Fred.

Posted by: Vanilla Chin | Aug 10, 2005 10:37:39 PM

I think you captured this well! And good advice too.

Posted by: Martin Zacarias | Aug 11, 2005 7:15:40 AM

I'd add that you can look for help *inside yourself.* In particular, I think that CEOs who "feel the weight" are too emotionally attached to the outcome. For a CEO to perform, he/she must maintain a delicate balance between caring passionately about the outcome, and recognizing that it's a company and a job (even if a self-created one), not your entire life.

If you get all wrapped up in the worries, you don't make good decisions. Numbers bad last month? Find out why. Hold the right people accountable. If appropriate, fire the VP of Sales... or the CFO if costs are out of control. CTO leaving? If he/she is high maintenance, it's a blessing... and if not, he or she will probably help you with the transition. Just start a search. Lead investor giving you a hard time? Think about what he says, but then let it go -- like Fred, he's probably never run a business.

And then go home, have a beer, go for a run, or read a good book. You don't need to think of it as "weight on your shoulders" -- it's just crap you need to do, some of it pleasant, some not so much.

Easier said than done, but again the point is that this is inside yourself, an attitudinal way of lifting the weight.

Posted by: Dave Jilk | Aug 11, 2005 11:42:30 AM

Dave you are right. And you are so terribly wrong. While the answer to all of our problems remains within us, that perspective that you extol is not something we always have. No matter what, we will have a bad day, our share of bad weeks, the occasional bad month and maybe even a bad year. Getting stuck in a rut where the rest of the world may be glorious but all we see are the mud walls happens to the best of them. The human condition is sadly one where the only eyes we get to see through are our own. That is why having people who you trust enough to open up and reveal your problems truthfully is so important. They can give you perspective and show you how to look beyond the problems. We all need help sometimes.

Posted by: Zach Coelius | Aug 11, 2005 11:52:26 PM

Posted by: ad aware | Nov 17, 2005 11:31:58 AM

amateur couple amateur gay amateur gratuit amateur libertin amateur nu amateur porno amateur sex amateur sexe amateur video amateur webcam amateur x amateur anal fisting anal anime asiatique nu asiatique bite black anal blacks on blonde webcam gratuit webcam sexe femme black webcam chat cul cul gratuit couple amateur erotique ejac feminine ejac facial defloration coquin blonde salope bondage voyeur gratuit erotique gratuit bukkake cul de femme black teens ejac faciale chatte chatte humide double anal film x amateur free porn movies femme mature femme nu femme erotique femme facile xxx fetichisme femme mure film amateur femme en chaleur femme cochon film sexe femme sex x amateur femme coquin femme mure nu femme sexe fille facile femme nu gratuite film sexe gratuit femme photo hardcore gros penis grosse salope hentai x histoire erotique young porn gros teton gratuit sexe jeune gay video grosse femme grosse bite jeune femme gros sein gros cul gros sexe jeune amatrice hentai jeune chatte jeune femme nue hard sexe jeune lesbienne mangas erotique jeune nu voyeur france mangas sexe jeune vierge mature lesbian mature gratuit lesbienne nu mamie jeune gay masturbation femme lesbienne photo lesbienne gratuit lesbienne gratuite jeune sexe jeune salope lesbienne jeune fille voyeur mature mature sex sex mangas sexy lingerie video coquin video de cul transsexuelle sexe video sexy mature triple penetration video amateur video amateur x sexe vieille sexe mature sexe porno sex xxx teen amateur sexe webcam sex femme video cul gratuit sexe video gratuit teen porn sexe video gratuite sex mature sexe photo mature women photo gratuite sexe photo de cul photo gay gratuite photo de cul gratuite photo amateur mure petite chatte photo salope photo lesbienne mature sexe video hentai video lesbienne photo gay gratuit photo femme video erotique partouze photo cul gratuite photo sexe amateur photo de chatte penetration photo gratuite femme nu photo fille photo xxx portail du sexe photo sein photo sexe gratuit video salope porn porno asiatique photo sexe porno mature porno black sein de france video mature photo sexe gratuite sein salope gratuit photo transsexuelle porno amateur photo voyeur porno sexe poitrine salope salope gratuite video sexe sexe femme video xxx gratuit sexe hard gratuit sexe fr sexe amateur gratuit sex amateur gratuit sexe en direct sexe gratuit photo sexe hard sexe gratuis sexe gratuit sexe feminin sexe amateur sexe gratuit video video sexe gratuit video xxx sein enorme sein gratuit sexe sexe gaulois sex amateur sexe extreme sexe hardcore blague codec divx ad aware antivirus divx a telecharger antivirus en ligne chanson a telecharger codec telecharger carte postale ancienne antivirus gratuit blague humour divx codec carte postale virtuelle blague blonde divx dvd clone cd bitdefender carte postale antivirus a telecharger antivirus gratuit a telecharger emule telecharger gratuit film gratuit a telecharger film porno a telecharger film porno gratuit a telecharger film x a telecharger fond d ecran a telecharger horoscope horoscope cancer divx gratuit edonkey edonkey 2000 emoticone a telecharger emoticone a telecharger gratuit emule france emule gratuit emule telecharger film a telecharger emule film x gratuit a telecharger firewall horoscope taureau horoscope verseau jeu a telecharger jeu pc a telecharger jeux a telecharger jeux a telecharger gratuit jeux a telecharger sur pc jeux de voiture jeux flash a telecharger horoscope capricorne horoscope chinois horoscope du jour horoscope gemeau horoscope gratuit horoscope lion horoscope poisson horoscope sagittaire horoscope scorpion horoscope vierge imesh kazaa msn messenger 7.5 telecharger messenger 7.5 mp3 gratuit telecharger mc afee logiciel gratuit mp3 gratuit msn messenger telecharger kazaa telecharger messenger mp3 telecharger logiciel antivirus msn messenger plus kazaa lite telecharger kazaa lite logiciel architecture mp3 telecharger gratuit msn 7.5 telecharger msn messenger 7.5 messenger msn recette partition guitare nero burning rom partition de musique musique mp3 musique mp3 a telecharger nero 6 norton antivirus 2005 nero express nero norton 2005 musique a telecharger gratuite musique musique a telecharger gratuitement norton musique a telecharger gratuit nero burning musique a telecharger msn telecharger partition gratuite recette minceur recette de salade shareaza telecharger recette gateau chocolat recette punch recette courgette recette gateau recette cocktail sims 2 telecharger recette sangria recette pain recette facile sims 2 telechargement recette paella recette crepe recette de cuisine recette dessert recette de julie recette de confiture recette barbecue telecharger kazaa lite gratuit telecharger emule telecharger les sims gratuitement telecharger kazaa little telecharger kazaa gratuitement telecharger gratuitement msn telecharger kazaa lite telecharger emoticone telecharger emule gratuit telecharger kazaa en francais telecharger gratuitement kazaa telecharger e mule gratuit telecharger gratuitement msn messenger telecharger divx gratuit telecharger les sims 2 telecharger les sims gratuit telecharger jeu flash telecharger kazaa gratuit telecharger gratuitement logiciel telecharger emule gratuitement solution jeu telecharger divx solution jeu video telechargement gratuit de film telecharger clone cd telechargement film x gratuit telechargement logiciel telechargement film divx telecharger antivirus gratuit solution telecharger codec divx telechargement film telecharger chanson skype telechargement film porno gratuit telechargement film porno telecharger acrobat reader telecharger antivirus tablature guitare tablature telecharger mp3 telecharger mp3 gratuitement telecharger msn telecharger msn 7.5 telecharger msn 7.5 francais telecharger msn 8.0 telecharger msn gratuit telecharger msn gratuitement telecharger msn mesenger telecharger msn messenger 7.5 telecharger msn messenger 8.0 telecharger msn messenger plus telecharger msn plus telecharger music mp3 telecharger musique gratuite telecharger logiciel divx telecharger logiciel gratuit telecharger logiciel mp3 gratuit telecharger messenger telecharger messenger 7.5 telecharger winamp telecharger windows messenger telecharger winzip telecharger winzip gratuit telecharger yahoo messenger zone alarm telecharger nero telecharger nero 6 telecharger nero gratuit telecharger nero gratuitement telecharger norton antivirus 2005 telecharger shareaza telecharger shareaza gratuit telecharger shareaza gratuitement telecharger video telecharger video porno gratuit telecharger video sex telecharger video x

Posted by: amateur couple | Nov 30, 2005 8:32:29 AM

A VC

Musings of a VC in NYC