I recently attended an interesting talk by a former CIO turned entrepreneur / CEO. I wanted to share a few key points from this session. First, about this CIO. HeÂ had done a number of senior IT stints at very large companies but he was not satisfied with his successful career. HeÂ wasÂ full of energy and enthusiasm so at age 50 he left his comfortable career and launched a RFIDÂ startup. The company is a huge success so far and growing rapidly.
HeÂ talked about the usual but wrong perception that most successful entrepreneurs start their businessÂ before 40, how he built his team by cherry pickingÂ executives from other companies andÂ how he adjusted his lifestyle to the demands of a startup.Â If you have undergone aÂ major change in your career you can appreciate the transformation here. For me the most interesting part was that heÂ had a great understanding ofÂ personalities and what makes a team click.
He mentioned that many executivesÂ Â become a victim of their own success because they start believing that they are the “kings” and their subjects should follow them. They are unable to listen and are completely unsuitable for a start up environment. I could not agree more with this. Time and again I have seen senior management make this mistake and they lose touch with reality.
Another key take away was that its all about building the right team, having contacts and letting go of your ego. You are never smart enough to know everything. Learn to let go and delegate.
PS: I am back after a hiatus of few months which involved job change and an addition to my family. I’m having great fun but finding it hard to keep up with blogging.