WHAT ENTREPRENEURS SHOULD LEARN FROM UBER’S LEADERSHIP CRISIS
How quickly business fortunes can change. The travails of Uber, transformed in recent months from a case study in high-growth entrepreneurialism to a business with a leadership vacuum following the ousting of its founder and chief executive, is a salutary tale that all start-ups should learn from. The moral of the story is that running a successful and sustainable business require mores than the ability to develop and execute a great business model.
This is really an issue about skillsets. It takes a great deal to get a new venture off the ground – to convince investors of the business case, to get the thing actually working and to persuade customers they’d like to pay for your product or service; no-one should underestimate the effort required, or deny founders the credit they deserve. Equally, however, running a business day-to-day will require a very different range of skills – and as the venture scales up, lacking those attributes can very quickly catch you out.
Business founders understandably often feel they are indispensable to their companies – that without their passion, insight and leadership, the venture would fail. In truth, however, if the business is to grow and prosper over the long term, it can’t afford to be dependent on the skills of a single person. It may even be more successful if the founder gives way to another leader, or at least expands the senior leadership team to broaden its expertise and experience.
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