Founder Fit

As your business grows and settles into a stable phase, you might realize that the skills and mindset that drove your success in the beginning aren't quite right for the challenges you face now. The enthusiasm and boldness that got you through the early days served their purpose, but as things stabilize, you might feel disconnected from the day-to-day tasks of running a steady operation.

I experienced this myself with Cowch. After a decade, I found myself zoning out at the screen, getting bogged down in minor details instead of driving the business forward. I became more interested in innovation and lost the same drive and focus I had at the beginning.

This isn't a reflection of your abilities as an entrepreneur; it's recognising that different stages of business demand different leadership styles. While some founders thrive in the fast-paced, risky start-up world, others find fulfillment in a more structured environment. Knowing when it's time to step back from being the main decision-maker is tough but crucial for your business's future success.

In such situations, bringing in outside leadership or even selling the business might be the best move. By handing over control to someone with the right skills and experience, you ensure the business can thrive in its next phase. This isn't a failure—it's understanding when the needs of the business outweigh your own ambitions.

I had a conversation with a friend who founded one of Sydney's biggest law firms. He was struggling internally with transitioning from leading lawyers to being a CEO. It was a battle between his emotions and logic. He said something that struck me: "If I truly care about my business, then I know I'm not the best person to lead it." It was a wake-up call, seeing such honesty from a mentor. Not all entrepreneurs are CEOs, and that's okay.

A true entrepreneur isn't just someone who builds from scratch but also someone willing to adapt and make tough decisions for their creation's success. So, if you feel out of place in the stability of your business, don't worry. Take the chance to step back, re-evaluate, and chart a course that's best for you and your business.