Now that I have noticed your attention to this article, could we look deeper into the CEO problem?
This article refers to C-level management, especially CEOs and COOs.
In my new journey as founder of Action Management, I have been helping a startup raise its initial pre-seed funding.
The project was interesting; the MVP was almost ready to launch, and the CEO was polishing the PM (Product-Market Fit).
We worked on a basic investors’ pitch to highlight the problem that the solution would fix, and we were ready for the “100 noes” liturgy.
One of the VCs we met liked the concept and met the CEO of this startup, but they decided not to invest.
As I had a good relationship with the managing director of the VC, I asked him why. “The CEO is not from the industry,” he complained.
After a few days, I called him back, inviting him for a coffee in Barcelona, and while we were waiting for our matcha lattes, I challenged him and his ego. I took my iPad and pen and asked him: “I want to learn from you and your experience. Tell me what you’re looking for in a great CEO.”
Sipping his latte, he was pleased to share his knowledge and point of view, and after 20 minutes, the attributes of a good CEO were in the below list:
The key to a successful non-industry CEO lies in their ability to:
A fresh perspective allows non-industry CEOs to approach issues with an open mind. They can challenge assumptions, identify root causes, and explore unconventional solutions.
Non-industry CEOs are often better equipped to listen to the voice of the customer, understanding their needs, pain points, and aspirations. This customer-centric approach is crucial for developing products and services that resonate with the market.
A CEO’s ability to assemble and lead a high-performing team is paramount. A non-industry CEO can bring a diversity of thought, experience, and expertise to the team, fostering innovation and creativity.
The startup world is characterized by uncertainty and ambiguity. A non-industry CEO may be more comfortable operating in this dynamic environment, adapting to changing market conditions and embracing the unknown.
Then I asked him, “Where exactly is ‘coming from the industry’ on the list?”
He immediately understood what I was talking about, and after laughing in a high voice, we told me, “What a son of a b1tch you are”.
None of the founders of Waze or the team had experience in the navigation/traffic space. When we started Pontera, no one came from the financial industry.
The point is that you don’t need people “from the industry.” It would help if you had people who understand the problem and who can listen to customers.
By the way, if you’re asking yourself if that startup got its initial round of investment, I can tell that the managing director of the VC is now working on a term sheet… fingers crossed!
Now that I have attracted your attention to this article, let’s look deeper into it.
In my new journey as founder of Action Management, I have been helping a startup raise its initial pre-seed funding.
The project was interesting; the MVP was almost ready to launch, and the CEO was polishing the PM (Product-Market Fit).
We worked on a basic investors’ pitch to highlight the problem that the solution would fix, and we were ready for the “100 noes” liturgy.
One of the VCs we met liked the concept and met the CEO of this startup, but they decided not to invest.
As I had a good relationship with the managing director of the VC, I asked him why. “The CEO is not from the industry,” he complained.
After a few days, I called him back, inviting him for a coffee in Barcelona, and while we were waiting for our matcha lattes, I challenged him and his ego. I took my iPad and pen and asked him: “I want to learn from you and your experience. Tell me what you’re looking for in a great CEO.”
Sipping his latte, he was pleased to share his knowledge and point of view, and after 20 minutes, the attributes of a good CEO were in the below list:
The key to a successful non-industry CEO lies in their ability to:
A fresh perspective allows non-industry CEOs to approach issues with an open mind. They can challenge assumptions, identify root causes, and explore unconventional solutions.
Non-industry CEOs are often better equipped to listen to the voice of the customer, understanding their needs, pain points, and aspirations. This customer-centric approach is crucial for developing products and services that resonate with the market.
A CEO’s ability to assemble and lead a high-performing team is paramount. A non-industry CEO can bring a diversity of thought, experience, and expertise to the team, fostering innovation and creativity.
The startup world is characterized by uncertainty and ambiguity. A non-industry CEO may be more comfortable operating in this dynamic environment, adapting to changing market conditions and embracing the unknown.
Then I asked him, “Where exactly is ‘coming from the industry’ on the list?”
He immediately understood what I was talking about, and after laughing in a high voice, we told me, “What a son of a b1tch you are”.
None of the founders of Waze or the team had experience in the navigation/traffic space. When we started Pontera, no one came from the financial industry.
The point is that you don’t need people “from the industry.” It would help if you had people who understand the problem and who can listen to customers.
By the way, if you’re asking yourself if that startup got its initial round of investment, I can tell that the managing director of the VC is now working on a term sheet… fingers crossed!
