AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min snip
A Masterclass On Hiring A CEO To Run Your Company ft. Andrew Wilkinson
My First Million
Step 1: Are You Ready to hire a CEO?
Before hiring a CEO, it is crucial to assess if the business is big enough and has achieved product-market fit. This includes ensuring that the business is generating around $300,000 in profit to afford a CEO. By having a stable profit, the CEO can be incentivized through bonuses tied to business growth, aligning their goals with that of the company. It is important to have a well-established business with consistent supply and demand, rather than constantly changing offerings. While some exceptions can be made for smaller businesses with growth potential, the focus should be on having a solid foundation before bringing in a CEO. Additionally, it is essential to consider the potential for the CEO to become wealthy through the opportunity presented by the business, as they are typically looking for upside and financial rewards in their role.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode