Founding a company takes a lot of hard work, but simultaneously choosing to become its chief executive operator is a massive undertaking. As of 2024, only 22 Fortune 500 company founders were also CEOs (approximately 4.4%), so it’s a rare dual position to hold. These people must be able to manage people, progress and day-to-day responsibilities, while also maintaining the organisation’s initial vision.
Founders are responsible for laying foundations for CEOs to build upon, driving success by engaging employees, boosting morale and providing a productive, structured environment. For successful entrepreneurs – like Rolph Balgobin, founder and current chairman of The Oxbridge International School – the key is strong leadership.
The first step to becoming a successful founder CEO is bringing a vision to life. Founders are tasked with creating a scalable business from nothing, and there are three different main profiles that they fall into. Commercial founders handle everything from the earliest stages, giving the business structure and bringing it to market. Technical founders, on the other hand, take control of the digital aspects, while domain founders are research-focussed experts who commercialise within a specific niche.
It is the responsibility of the CEO to build the business from there. Some of the key personal qualities of a good CEO include:
- Confidence
- Trustworthiness
- Passion
- Open-mindedness
- Loyalty
- Curiosity
Developing these qualities improves leadership and ensures that both the company and its employees thrive. With a passionate and aspirational CEO at the helm, plans can be implemented to stimulate company culture and business growth. Founder CEOs have an advantage in this area because they can connect the creative vision and foundational values with the company’s mission as it evolves.
However, making the transition from founder to CEO isn’t always easy. Founders who refuse to acquiesce to changes within the business that don’t necessarily correlate with their initial plans risk squandering opportunities in evolving markets. In a nutshell, founders understand what the company is; CEOs understand how to make it a success. It’s vital that a founder CEO can do both and remain open-minded in order to put the company first.
To ensure success as a founder CEO, it’s important for an individual to consistently develop key skills and attributes. Things as simple as organisation, risk assessment, customer service and competitive analysis can make all the difference to the success of various business ventures. Working hard for yourself and the company can be gruelling, but it can also be rewarding when it pays off.