It may be natural for most founders to want to have a hand in everything, but launching a startup isn’t a job for one person – that means delegating. Whether you like it or not, you’re going to have to get used to doing it well.
In the early days of a startup it may also be easy for a founding team to take the approach of everyone pitching in on everything. But when it comes to decisions-making, writes Kathryn Minshew, Founder and CEO of Company Muse and The Daily Muse, flexibility can spell inefficiency and disaster. “If anyone can make any decision, or everyone tries to be a part of every decision, we’d end up going back and forth on each and every issue when we really just need to move forward,” Minshew suggests, referring to her own experience as a startup founder. “So we divided up the responsibilities, clearly defined the role of each founder, and got back to work.”
For founders who are loath to hand over control, Minshew suggests keeping in mind three keys in order to make delegating work. First of all, don’t take the split of responsibilities personally. “Co-founding a company isn’t about doing what you most like to do. It’s about making sure that between all of you, the company meets its goals,” she writes. Big decisions should absolutely be brought to the group, but it’s also crucial that each project has a clearly defined owner, Minshew advises. For more on why learning how to delegate is crucial to startup survival, read her full article here.
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Being able to properly delegate responsibilities is just one of the many challenges that young startup founders and CEOs will face. For more insight from someone who’s been there and works with others who are currently running their own companies, read this interview with Under30CEO Co-founder Jared O’Toole. Then, head over to the OpenView Blog for a CEO checklist in order to determine how you stack up and what areas you should improve.