Innovative Founder Team – A strong Founding Team possessing required strengths could be assembled even though the PF may not have the necessary management experience and leadership skills. The founder team could be structured as follows:
1. PF should be the CTO/Chairman (Majority ownership greater than CEO to be added)
2. CEO (hired by the PF)
3. VP Sales/Marketing (hired by the CEO)
In this scenario the original founder is not the CEO but the CTO and Chairman of the company. The CEO would be someone who has significant management experience and strong leadership skill.
Since the principal founder has majority ownership and is the Chairman of the company, then the Principal Founder will still maintain power over the CEO but the CEO provides the day to day management of the company, its employees and is the spokesperson with investors, business partners and major customers.
This innovative founding team structure is not understood by entrepreneurs and seldom implemented but should be considered and could prove to be very effective.
