My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Scale across multiple companies by being an effective chairman rather than trying to be CEO of everything
Serial entrepreneurs, studio operators, or investors who want to be actively involved across multiple ventures
Ongoing relationship management across company lifecyclesWhat Success Looks Like
CEOs who proactively reach out for guidance, successful financing rounds, strategic decisions made efficiently, and companies that can operate independently while benefiting from your oversight
Steps to Execute
Recruit specialist CEOs who know the industry better than you do
Establish weekly or bi-weekly check-in calls
Focus on high-level strategy, not day-to-day operations
Handle difficult situations (financing, pivots, personnel changes)
Provide network introductions and deal-making support
Stay available for urgent issues while avoiding micromanagement
Checklist
Inputs Needed
- Strong network for CEO recruitment
- Time for regular check-ins and urgent issues
- Industry knowledge to provide valuable guidance
- Patience to let CEOs learn and make mistakes
Outputs
- Successfully operating companies with minimal day-to-day involvement
- CEOs who develop independence while utilizing your strengths
- Efficient problem-solving for complex issues
- Sustainable scaling across multiple ventures
Example
“Business Insider chairman relationship where Henry Blodgett handles all editorial and operational decisions, while Kevin Ryan handles financing, acquisitions, and strategic pivots.”