E301 | The Importance of Founder CEO Succession with Evgeny Shadchnev
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300 episodes on Dominic’s catching up with the very first guest on the podcast, Evgeny Shadchnev, Executive Coach and Founder & ex-CEO of Makers Academy, to talk about that all-important decision: Do you stay on as founder CEO, or do you go and what happens next?
The conversation explores the topic of startup CEO succession and the importance of founders considering stepping down from their roles. The premise of Evgeny’s new book, “Startup CEO Succession: a Founder’s Guide to Leadership Transition”, is that founder-CEO succession is often the best thing for both the founder and the company. The conversation covers various aspects of CEO succession, including the need for founders to assess their fit for the role as the company grows, the different options for transitioning from CEO to another role in the company, and the challenges and benefits of employees setting their own salaries. The conversation also highlights the importance of having a clear understanding of the CEO’s role and the need for open and early conversations about succession. The conversation explores the motivations and challenges of CEO succession in startups. It delves into the personal satisfaction derived from helping others and the shift in motivation when transitioning from a B2C to a B2B business model. The importance of open and early conversations about succession planning is emphasised, as well as the role of the board and the time required for a smooth transition. The conversation also touches on the impact of the COVID-19 pandemic on business operations and the need for adaptability.
Evgeny’s new book “Startup CEO Succession: a Founder’s Guide to Leadership Transition” is out now
On today’s podcast:
- Founder-CEO succession is often the best thing for both the founder and the company.
- Founders should assess their fit for the CEO role as the company grows and consider transitioning to another role if necessary.
- There are various options for transitioning from CEO to another role in the company, such as becoming an executive chair or advisor.
- Employees setting their own salaries can lead to challenges in ensuring equality and can create administrative overhead.
- Having a clear understanding of the CEO’s role is important for both founders and investors.
- Open and early conversations about CEO succession are crucial for a smooth transition. CEO succession in startups requires open and early conversations about the future of the business.
- Motivations for being a founder and CEO can evolve over time, from personal validation to making a meaningful impact on people’s lives.
- Transitioning from a B2C to a B2B business model requires a different skill set and motivation.
- Succession planning should involve the founder taking charge of the process and driving it, rather than waiting for the board to initiate the conversation.
- CEO succession in startups takes time and should be approached with careful consideration and planning.
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Who is Evgeny Shadchnev
After stepping down as the founder CEO of Makers, one of the UK’s leading coding bootcamps, Evgeny Shadchnev became a certified professional coach specialising in helping entrepreneurs through CEO succession.
Evgeny guides founders and boards through the complex personal, professional, and psychological terrain when the stakes are highest. His insightful strategies prepare entrepreneurs to confidently navigate the transition from founder CEO to a new CEO.
As a meditation teacher in training, he enjoys a simple and quiet lifestyle in the Algarve, Portugal.
What you’ll learn from Evgeny Shadchnev
02:55 Assessing Fit for the CEO Role as the Company Grows
08:00 Challenges and Benefits of Employees Setting Their Own Salaries
13:06 Understanding the CEO’s Role
15:52 The Need for Open and Early Conversations about CEO Succession
28:13 From B2C to B2B: Shifting Skill Sets and Motivations
29:49 The Importance of Open and Early Conversations about Succession Planning
31:44 The Role of the Board in CEO Succession
35:46 The Time and Care Required for a Smooth CEO Transition
39:18 Navigating CEO Succession During the COVID-19 Pandemic