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.