My passion for fashion and sustainability led me 6 years ago to found and create what I believe will be an industry transforming business. We have great momentum, some of the best investors and thousands of users that love to rent and lend clothing on a daily basis.
I am looking for someone who is passionate about sustainability in fashion, who is hungry, who wants to change the world.
Here are the things that you need to know how to do:
1. Cash flow/Fund Raising
This one is a no-brainer. If you run out of money, then you have no business to operate. It is the CEO’s job to manage revenue, expenses and external financing to maintain the consistent growth of the business.
2. Product vision
Your team needs to continually feel clear and excited about where the company is headed. It is your responsibility to regularly refine your company’s product vision as a result of frequent interactions with your customers.es.
3. Team building
People, product, people, market and people. Without the right captains leading the ships, there’s little chance they’ll continue traveling in the right direction.
A good CEO is constantly questioning whether the right people are in the right places. Do any roles need to be re-organized? Are any bad apples affecting the performance of the rest of the team? Do people like their jobs? Do we need to have a corporate team-building retreat at a ropes course? Do we need to create any new vacancies for unmet leadership needs?
4. Investor management
The moment your startup first takes outside capital, you suddenly have a new boss: your shareholders. This only becomes more poignant as you continue to capitalize your business. Keeping your investors informed, helpful and happy is one of the most underrated things that CEOs can do to improve their chances of success.
5. Brand management
Building and maintaining a strong brand (both personally and for your company) is a product of thought leadership and relationship management activities. These activities are easy to neglect but can dramatically increase your credibility in the eyes of your market.
6. Corporate development
Continually researching and connecting with the key players in your market will help you pave the way for a successful exit. Most successful acquisitions are the result of ongoing conversations between the startup and the acquirer. The more relationships you have with the key players in your industry -- including big companies, law firms, and VCs -- the more successfully you’ll be able to navigate an eventual exit.