Thinking about taking a CEO position in an early stage or startup company ? Then answer these 7 questions for yourself to avoid making the wrong decision. The video tutorial walks through the questions. Scroll down for the list and some thoughts.
The crucial thing here is clarity. Vague answers don’t count – – it just means there is a lack of clarity around the core idea for the business that will make it tougher to be successful as a CEO.
7 Key Questions for Evaluating a Startup CEO Job
1. What is the business mission ?
Do the founders and team have a clear vision of what the value of the business is based on.
2. Who are the key stakeholders ?
Not always just the investors, who else has a vested interest in the company and how will you deal with them ?
3. What is the expected performance of the company ?
The next google (harder job), a solid return for investors, or a cash flow positive long term business.
4. What is the expected performance of the CEO ?
You’re not the company. What are you expected to deliver – turnaround, improvement, high growth.
5. How much time is there to complete the mission ?
Is there enough time, money and resources, or is it inevitable that you will come up short.
6. How much time to the expected initial results ?
Three to six months is reasonable. Three weeks is not. Make sure you calibrate this one.
7. What/when is the expected end-game ?
The current economy is not great for IPO’s or M&A. Will you have enough time to reach a better window.
Remember ! If these questions don’t lead to a crystal clear understanding of your assignment as CEO and the expectations surrounding you and the company, then you might want to think twice about taking the job.