My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Leadership

Should You Lead the Company You Started?

Should You Lead the Company You Started?
Image credit: Shutterstock
- Magazine Contributor
Entrepreneur Contributor
2 min read

A Note From The Editor

Think your company has what it takes to make our Top Company Cultures list? Apply now.

Apply now ยป

This story appears in the June 2015 issue of Entrepreneur. Subscribe »

Q: Am I the right leader for my startup?

A: They’re creative visionaries, sure, but not all entrepreneurs are equipped to run the companies they start. Randy Nelson, author of The Second Decision: The Qualified Entrepreneur, suggests this three-step approach to deciding whether or not you should stay at the helm of your company.

1. Surround yourself with independent advisors. Nelson, who sold two businesses he founded, says he relied on CEO peer groups for input. The goal is to better assess your own strengths and weaknesses. 

2. Acknowledge your shortcomings, then act on them. “By becoming more self-aware,” Nelson says, “that’s saying to yourself, ‘I want to improve.’” He calls this step the transition from “I don’t know what I don’t know” to “I know what I don’t know.” 

3. Examine your motivation. At this point entrepreneurs know what needs to be done and can gauge not just their own ability, but their willingness. “Once you know all that,” Nelson says, “the third step is: Do I really want to do this?” Maybe it’s time to move on to something new. 

'Black Panther' Director Ryan Coogler Shows Why Gratitude Is an Integral Part of Success