Hiring a CEO could save your business.
By nature, most entrepreneurs are control freaks. Often that characteristic is key to initial success. But there may come a time when the skills you brought to your company are not enough to develop and grow it. If you've reached that point, it may be time to hire a CEO.
According to William M. Mayfield, director of the Center for Entrepreneurial Studies at Washington & Jefferson College in Washington, Pennsylvania, the right time to think about hiring a CEO is when entrepreneurs come to the realization that they have maxed out their personal resources and knowledge bases and need to go back to where their talents are.
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