I have a hobby. I like to race my 33-foot sport sailboat.
I am a pretty good sailor, our team wins more than it loses, but we are nothing to write home about. My main job, beside trying not to hit something, is to buy drinks at the bar afterward. And from time to time, I have been fortunate to have a couple of rock stars on my boat.
Now I tell this tale not to give a short course in sailboat racing, but to point out that this dilemma applies directly to your company. How you hire people and the roles you place them in is the CEO job one. The tendency is to hire up, to try to get the best brains and talent you can. We all get blindsided by the resume, by the previous track record, by the idea that if we hire this person and put him/her on the investment deck, the VCs will swoon. It’s the he’s been there/done that syndrome.
I have a client who faced this dilemma. He had hired an existing team, a group that had worked together for a couple of years. His deal was with the team, not with each of the individual members. Shortly after launch, it became clear that he either needed to break up the team and create individual responsibilities or fire the team — lock, stock and barrel.
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