Is there a market in being an interim or permanent (paid) CEO for other small, but funded startups? Thinking of trying this out in 2015! I have raised money, got into a big accelerator, managed people, ran startups with traction before, but no exits yet. I’m based in London.
Questions
Being a CEO for someone else?
6 answers from the community
A· Dec 29, 2014
Of course there's a market for CEO's as long as you've got the right experience. If you've proven to be able to bring in business in a specific field (especially B2B) especially if they were also startups, many tech founder led startups would be glad to hand over the CEO title to you.
I know a guy who does this in the security field. He goes from one startup to the next taking on the CEO role, grow its customer base and selling or IPO-ing the companies.
A· Dec 29, 2014
I would have to add, being friends with VC's help. A lot of startups who are funded but not doing well have CEO churn. The VCs are always looking for someone who can turn them around.
A· Dec 30, 2014
+1
A· Dec 30, 2014
If you can get VCs to install you as a CEO without having a successful exit or success running actual profitable operations, by all means - if you are interested. It is very thankless work though - you'll get 3% to 5% but do as much work as if you were a founder.
Did your friend have a successful exit and/or a long stint at a profitable company first?
A· Dec 30, 2014
I assuming you're replying to me the first commenter.
At the company I was at it was my friends first stint as CEO. He was marketing director before that at another co which I assume he impressed the VCS that invested in that co. Same investor. He did well though. Turned the co around got it acquired.
As you said when a company is not doing well a CEO role is thankless. You do it for the challenge. Many accomplished CEOs would not touch it so VCs have two choices. Keep the existing non performing CEO, or get a promising but not seasoned CEO on board.
I've seen this more than once.
A· Dec 31, 2014
Only thing stopping you is yourself.