Second Life founder steps aside

by Matthew Rock - Tuesday, 18th March 2008 -

Linden Lab founder Philip Rosedale, creator of the strange "virtual world" Second Life, is following in the path of many successful entrepreneurs by bringing in an outsider to run the business.

Announcing his decision to hire a CEO and move upstairs to the role of chairman, Rosedale wrote in the Second Life blog: "As we grow, the role of our CEO will increasingly be to hire and grow the right team - to lead and help the company scale - to thousands of people and tens of millions of users of Second Life. I believe that we can hire a fantastic person in that role, and also give me the ability to totally focus myself on the job that I do well."

Rosedale is following the precedent of many successful entrepreneurs who, having created and launched a business, find that they reach the limits of their own capabilities and hire in a safe pair of hands to grow their baby. A few weeks ago, we reported on Nigel Botterill, founder of TheBestof.co.uk, who had decided to recruit a CEO for the business he founded. "I wanted someone who was calm and measured – the complete opposite of me," Botterill told us.

But the decision to hand over the reins is often painful. Many entrepreneurs fail to spot the need to replace themselves; as a consequence, many businesses suffocate and die. For some eternal truths about why you may need to demote yourself, click here.

WHAT NEXT?
Sign up for our newsletter and get our weekly pick of business news in your inbox!
Subscribe to our magazine for in depth interviews and advice from leading entrepreneurs!
Join our forum and talk business with other entrepreneurs!