So you started your business, battled through the recession, managed to grow it to the point that the day to day running of it is now taking up all of your time. Is this a problem, or do you miss certain aspects, maybe not having the time to spend on developing products or services, visiting clients etc. So would you consider taking on an MD to take over the burden and the pressure, letting them grow the business, allowing you to cherry pick the fun stuff? Personally I think it sounds great  Heres an interesting article from Bloomberg: When Founders Hire a Boss and Give Up Control
From what I understand and have been told a lot of people are a bit cautious in taking on an MD, I understand this but surely it's a sign of great success when the company you started yourself from nothing has been built up into something great. I would be thankful to get to that point and when needed not hesitate in taking one on Harry1
No names, no pack drill - I have just been told about an MD, taken on the help with pressure of work, who has totally messed things up for a company down south. Invoices not paid, he tried to destroy the company website, has ordered goods ........... ok, you get the idea  I think you need to really check out someone who is no doubt getting a very nice contract. Recruiting from within the company sometimes seems to be a better option than bringing in a stranger. Margaret ps am I on a downer today?? Thanks, Mar
I wouldn't hand everything over completely. I would still make sure I have the deciding vote before things are done and have some authority. It would be great if the MD you get your hands on shares your views about your company and shows you that they aren't going to steer it into the ground in a heartbeat. I would check their track record, get them in on a temporary basis, or for the first while monitor what they are doing and steer them the right way before letting them go it alone for a while. Thanks, Dreamraven
“I think you need to really check out someone who is no doubt getting a very nice contract.... ps am I on a downer today??” Without a doubt, you'd have to do some serious homework before handing over your baby, and then have an awesome contract, with probation period, targets etc. Oh dear, maybe the sun will shine later? |
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