As the adage goes, no founder is an island, yet we see too many hold themselves - and their companies - back by failing to put in place the support they need.
Dedicated CEO support - whether in the form of a chief of staff, a founder’s associate, or an office of the CEO - feels to many founders like something reserved for bigger or later-stage companies than their own.
However, having worked closely with countless early-stage founders - we see the huge demands on their time and attention that take them away from the important parts of the business, and have worked with many to make sure they get the right support in place.
In our experience, far from being a nice-to-have, establishing the makings of a CEO office early is the key to unlocking a founder's or founders’ 10x potential, and, by extension the growth of the business. This is as relevant for a company with one founder, or many.
The real startup scarcity is not funding, it’s founder time
While the startup world often fixates on funding rounds and capital, the true bottleneck in many young companies is far more personal: founder time. Those who build great businesses live and breathe their company 24/7, and have a view on everything from the high-level strategy to important decisions being made daily by teams. This unwavering dedication is essential for scaling, but it comes with a hidden cost.
The impulse to continue to take responsibility is not wrong - but no matter how capable, founders still only have 24 hours in a day. Much sooner than most founders expect trying to hold the vision and be able to weigh in on crucial managerial decisions simply becomes too much. Too often we see founders entirely sucked into day-to-day firefighting, instead of being able to focus on the decisions that count for the business at that time, whether that is defining strategy or spending time with the product.
The telltale signs you’ve reached your limit
There is no set formula for when to start building a team to support you. Some of the businesses we have worked closely with have made a chief of staff their ninth hire. Others have waited until after their Series C, or later, to build a full office.
There is, however, a clear trend: founders often wait too long to get this support.
We have met CEOs who assume it is something that should only be considered at Series C, or a headcount of dozens - and yet find themselves overwhelmed, and unable to provide the level of leadership their company needs.
We would encourage all early-stage founders and CEOs to ask themselves the following questions:
- Do you struggle to follow up on your direct reports?
As a business grows and you have a rapidly growing number of direct reports - the challenge really kicks in. You have one-to-ones, and agree on plans, timelines, and goals - but no time to follow up and keep track, and things start slipping through the cracks. This is a sign it is time to put in place support to help you keep track.
- Are you confident that all areas of your business are moving in one direction?
One of the core roles of a CEO is to maintain alignment across the business. Yet we all know this is easier said than done. Setting direction is one thing - but keeping track of the data and signals that help you understand reality is another. This will always be a CEO’s role - but having support to gather and analyze data and plug gaps is vital for success. Egem Eraslan, Founder and CEO of Midas, a fintech startup we've invested in, sums up this struggle: “Fintech has so many moving parts - compliance, risk, brokerage, ops, product, data, engineering, design - just to launch your initial product. You start having a lot of gaps between them. I needed someone to fill in the gaps”
- Are you only thinking day to day, and rarely quarter to quarter?
A CEO will always have the challenge of balancing across shorter and longer-term horizons. Founders often find themselves taking on multiple roles to drive immediate results, but these roles must evolve as the company grows. Thinking about the last week, or the last month - how much clear headspace did you devote to longer-term strategic thinking? If the answer to that question is very little - then it’s time to think about support.
How a CEO office could solve these problems
A CEO office is a function that exists to support the CEO, and drive forward their agenda across the business. Exact responsibilities can vary, but with the right set up - it should feel like an extension of the CEO.
Midas's Egem, whom we've supported in establishing his CEO office, sums up the concept eloquently: “a small group who were trained to also think and operate like a CEO. They would be very high agency, high caliber, hard working problem solvers. I saw my CEO office as a place that would embody the desired work ethic and culture and instill it in the team.”
This perspective, shaped through our collaborative efforts, highlights the strategic importance of a well-structured CEO office. It's not just about administrative support, but about creating a nucleus of leadership that extends the CEO's capacity and vision throughout the organization. Our experience with Midas and our other portfolio companies has consistently shown that this approach can be a game-changer for rapidly growing startups.
“I saw my CEO office as a place that would embody the desired work ethic and culture and instill it in the team.”
Egem Eraslan, Founder and CEO of Midas
They can help set out the objectives for projects and keep them on track, bringing the CEO’s focus. They can identify data and analysis gaps that are standing in the way, and help to fill them. They can bring the CEO’s strategic thinking to settings across the business. They can be a pair of fresh eyes and a second opinion for the CEO. They can follow up on actions from a CEO’s meetings to free up bandwidth.
Robin Trickett - now a VP of Strategy at cybersecurity startup (and Bek portfolio company) Binalyze - sees the versatility of CEO office roles as their strength: “A CEO office hire can expand the bandwidth and complement the capabilities of the CEO. Depending on the CEO’s focus, and any gaps in the expertise of the founder and execs - they can take on tasks from formalizing operational best practice to owning company-level KPIs or deputizing for the CEO.”
It usually starts with a single hire of dedicated support - often a chief of staff - and can grow from there as your business scales. It should have a huge impact on a CEO’s time - ensuring they don’t have to act as a project manager. In doing so, it frees up time to think more long-term and strategically. Where CEOs sometimes find themselves spending 90% of their time thinking about short-term issues, the purpose is to rebalance, so short-term oversight doesn’t overwhelm the vision.
“Depending on the CEO’s focus, and any gaps in the expertise of the execs, CEO office roles can take on tasks from formalizing operational best practice to owning company-level KPIs or deputizing for the CEO.”
Robin Trickett, VP of Strategy at Binalyze
Taking the first steps to scale your impact
Many founders wait until all the warning signs above are flashing red. Yet putting in place dedicated support - hiring, onboarding, embedding - takes time. Waiting risks a long stretch where growth and momentum are held back by a lack of CEO capacity.
The key message for founders is - think about this early. It isn't frivolous, or a sign of weakness. Rather, it's a high-ROI investment in your company's future. A well-structured CEO office amplifies your effectiveness across the entire organization, optimizing your time, improving decision-making, and enhancing execution. While the initial investment might seem daunting, it's one of the best value-for-money decisions you can make for your company's growth — so you can have the bandwidth to be involved in the decisions that count for the business.
Recognizing what is needed to scale your impact is an essential, and underrated quality of a great leader. Remember, the most valuable resource in your startup isn't funding - it's your time and focus. A CEO office is the lever that allows you to multiply that resource.
Don't wait until you're overwhelmed; consider this investment early. It's not just about managing your schedule; it's about maximizing your impact as a leader and accelerating your company's growth trajectory.
While establishing a CEO office is crucial, its success hinges on proper implementation and finding the right profile - a high-achieving individual or individuals with strong cultural alignment with the founder and self-drive. In our next piece, we'll delve into the intricacies of hiring, onboarding, and scaling this function to ensure you unlock its full potential.
