The Growth Ledger

Starting a company and running one are not the same job, and the gap between them catches a lot of founders by surprise. The research on this is old enough to be well established and blunt enough to be worth quoting. Noam Wasserman's study of 212 American startups, published in Harvard Business Review, found that half of the founders were no longer chief executives by the company's third year. By year four, the figure was 40 per cent, and fewer than a quarter led their compan