As a startup matures and delegated processes take hold, founders can begin to come up for air rather than be mired in all the details of working “in” the startup. This coming up for air enables the founders to work “on” the business, as opposed to “in” it.
Working “on” the startup can take on many different attributes, but here are some ways I’ve seen people work “on” their startups:
- Recruiting high-caliber talent
- Cleaning up the equity structure of the business
- Expanding the business geographically or into new markets
- Any M&A activity
- Exploring new ideas and opportunities
- Exploring anything that shakes up the organization, such as a restructuring of employees and incentives, a pricing overhaul, etc.
Founders sometimes also spin up new companies in the process which run parallel to their existing companies.
What ways have you seen founders work “on” their startups?