But be careful—even if you have a cofounder, there can only be one CEO. And if you pile on the cofounders, you’re asking for trouble. Having two founders works well. Three can work sometimes. I’ve never seen it work with more.

I remember one startup we worked with that had four cofounders. Every decision was made by consensus, which meant every decision took forever. They’d never started a company before, so even the most basic questions were endlessly debated—hiring, product changes, who to take money from, and how to structure the agreement. If they couldn’t agree they would hem and haw, trying to be nice, trying to be reasonable, watering down their opinions until the company fell behind the competition, ran out of money, and the board had to swoop in, remove some founders, and change the whole team around.

Building a product is like making a song.

The band is composed of marketing, sales, engineering, support, manufacturing, PR, legal. And the product manager is the producer—making sure everyone knows the melody, that nobody is out of tune and everyone is doing their part. They’re the only person who can see and hear how all the pieces are coming together, so they can tell when there’s too much bassoon or when a drum solo’s going on too long, when features get out of whack or people get so caught up in their own project that they forget the big picture.

But they’re also not directing everything. Their job isn’t to be CEO of the product—or, God forbid, what some companies call the “product owner.” They can’t single-handedly dictate what will and will not make it in. Sometimes they’ll have the final opinion, sometimes they’ll have to say “no,” sometimes they’ll have to direct from the front. But that should be rare. Mostly they empower the team. They help everyone understand the context of what the customer needs, then work together to make the right choices. If a product manager is making all the decisions, then they are not a good product manager.

So the product manager has to be a master negotiator and communicator. They have to influence people without managing them. They have to ask questions and listen and use their superpower—empathy for the customer, empathy for the team—to build bridges and mend road maps.

In summary, growing a business is a dynamic process as the leadership team navigates the evolutions and revolutions of growth. And like the growth stages of a child, they are predictable and unavoidable. To deal with these challenges, the company must grow the capabilities of the leadership team throughout the organization; install scalable infrastructure to manage the increasing complexities that come with growth; and stay on top of the

market dynamics that affect the business.

To do this, there are 4 Decisions that leaders must address: People, Strategy,

Execution, and Cash.

CEOs often avoid these decisions because they involve executives who have become dear friends. We recognize that this is a touchy subject, but it must be faced if the organization is to grow. One option is for some of the early team members to help launch a new product or division. They are usually more comfortable in a start-up situation or working on a smaller team. And several of the early leaders might be relieved to have the burden of an increasingly important and complex function taken off their shoulders. You won’t know until you have these crucial conversations.