First, make a clear assessment of the founder’s strengths and weaknesses and create a plan to help him or her develop.
Second, analyse team dynamics. Are other C-suite leaders able to counteract the founder’s negative behaviours – or are they enabling them?
Finally, acknowledge that most entrepreneurs are not equipped or motivated to lead a company to maturity.
Keep an open dialogue around long-term succession and the potential need to hire a more versatile chief executive – so the founder can focus where their strengths lie.
Anthony Abbatiello is a consultant at Russell Reynolds Associates