INTERVIEW WITH DON STRICKLAND

You are one of the few CEO’s with both large public company and small startup company experience. Which was the most challenging and what lessons did you learn?

The two jobs are quite different. The CEO of a public company, especially a large one, is constantly being judged by the performance of the company’s stock. This often results in an inordinate amount of time being spent on investor relations which, while important, doesn’t directly move the business forward. Time management is key. You need to develop a discipline that keeps you doing what is most important for moving the company forward and not get distracted by “urgent” but relatively unimportant issues. Being the CEO of a small private company is almost the opposite, especially if the company is a venture capital backed startup company, as in my case. There, the small number of employees and the very focused Board keep you focused on two things: getting profitable and your exit strategy. Time management, however, is still the key. I developed my personal “CEO Handbook” which I consult with every day. It reminds me of where I as a CEO need to be spending my time and why. I encourage all CEOs to have their own version.