Having your investors fire you is one of the biggest worries that you’re likely to have as CEO. And, you’re likely to believe that owning more than 50% of your company is how you’ll keep control.
The problem is keeping control of your company isn’t as easy as having the most votes. That’s what I’ll address in today’s post.
I’ll explain the things that won’t help you keep control of your startup, why these things might actually hurt your ability to stay CEO, and I’ll share with you the surefire way you can stay CEO.
And let’s start with the first thing on my list:
The things that won’t help you keep control of your startup.
There’s a widespread belief that the key to staying CEO is retaining voting control over your startup. In other words, if you own more than 51% of your startup then you can’t get thrown out.
The problem is that controlling the votes might not keep you in control. Let me explain why. Yes, you will control the votes in this scenario, and you can’t get voted out directly.
So you’re safe, right? Not so fast. Let’s say your startup raised $10 million in funding. And, like most startups your startup is losing money, so you need to raise another round of funding to keep…
