Quora Answer: Why Do Founders Often Fail as CEOs?

The following is my answer to a Quora question: “Why do founders often fail as CEOs?” 

You are a founder when you found a company, and seek funding.  That does not mean the founder knows management, or is a leader.  A chief executive, as the name states, is the leader of the management team.  Leadership and management are discrete skills, and they must be acquired.  Despite this, some people never seem to grasp it. 

Founders who fail to master the skills of management and leadership fail as management, let alone as CEO.  A great idea, and a promising company, can fail because of this deficit of leadership and failure in management.  Talented people are leaders in their field, and they need to be lead to a common purpose.  Stakeholders, investors, employees, internal and external customers, they all need a clear direction.  A lack of direction is fatal.  Either the company fails, or the founder might be ousted from executive management.