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A different strategy - no co-founder but hire a smaller team with much higher equity. Like founders-mode but with really senior people.
I'm working on another startup idea but I want to do it differently this time. This will be my fourth. My second I brought in a real CEO that was basically a well known CEO in the industry at the time. He helped us raise money but he basically took completely control of the company and was an idiot frankly. He killed the company, managed to sell it to a well known startup, then killed that company too! The third I was CEO by myself and ran it for 13 years. I sold it about 1.5 years ago. My fourth failed and we shut it down. It had a few problems but one of the issues was my co-founder. We just weren't really working well together towards the end. My 3rd I ran as a CEO but I sort of ran it in "founders mode" and hired very senior people, paid them well, and respected them and gave them a lot of autonomy. They were sort of co-founders in and of themselves. I think I want to do that again this time. Is there a name for this strategy? Basically, I want to keep a small team. Hire VERY skilled and senior people, pay them very well and give them a larger than normal amount of equity. I'm not sure if everyone needs to fit into this role but I want to have at least 3-5 people in this capacity that I can really trust. I also want to stay in founders mode and really focus and understand the core business. I think being obsessed with the running of the company and the product is really the only way to go. That and really focus on the customers, talk to them, and the industry. Maybe this is just 'founder's mode' but I don't want to be actively looking for a co-founder. I might get lucky and find one but every time I've looked it's just not really been a productive journey. I can raise just on revenue and traction, it's just that I have to have better numbers than usual.2
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