On Saturday, I had lunch with one of my most successful founders. As I dug into my burger, he said something that stopped me cold.
“We give away swag bags to new customers,” David* said. “The tote bags themselves cost $0.30 each.”
In that moment, I recognized something I’ve seen time and time again in the best CEO’s.
They see the big picture. But they also know every detail.
My lunch companion is running a company with millions in revenue. He supervises a dozen employees.
But he knows the cost of a canvas tote from Alibaba, down to the cent.
Let’s take Brett, another amazing founder I met last year. He runs a billion dollar SaaS company that’s growing at an incredible rate.
SaaS involves a lot of metrics. And Brett knew how his company stacked up on every single one of them.
And then there’s Aaron.
Aaron runs a SaaS company with over $20 million a year in revenue. He recently raised a $125 million round led by one of the best firms in Silicon Valley.
At a meeting with Aaron, one of the other investors asked about selling to the government. Aaron knew everything about government sales, from subcontractors to how lobbyists work.
And he wasn’t even interested in selling to the government yet!
Before I started investing, I thought I knew what a great CEO looked like. He would focus on the big picture and leave the details to someone else.
But when I meet with the best founders, the truth is more complicated.
They articulate the purpose of their company with the zeal of a missionary. But they also know every detail of the business.
It’s wise to delegate to a great team. But the best founders know everything the team is doing and make sure they’re staying on track.
Today, when I evaluate a founder, I look for attention to detail.
Do they know what’s going on day to day? Or do they think that details are beneath them?
I want the founders that are willing to roll up their sleeves.
What traits do you see in great founders? Leave a comment and let us know!
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*Note: Names have been changed to protect privacy
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