Find another company to lead.
The only thing better than being the CEO of one company, apparently, is to be CEO of two..
At least, that's what Elon Musk and Jack Dorsey are demonstrating to the rest of us mere mortals.
Elon Musk decided that building the next generation of automobiles a.k.a Tesla was not enough to keep him occupied and that he could do a better job of space travel than NASA in the form SpaceX . As CEO and CTO. Yes. Oh and add being chairman of Solar City to the mix.
Seriously, where does one get the time and energy to run two cutting-edge companies?
So, is Jack up to the task of running two public companies?
Most seem to buy it, but a lot of people are not convinced.
As a nod to potentially concerned investors, in its IPO filing, Square listed Jack Dorsey's double CEO gig as a risk factor. According to reports, Jack considers both company as his children. As any good father would do, he must therefore learn to divide his time between his offspring. No favorites! Some think the markets will likely assign a discount to Square on account of his double management role, although that was not readily apparent in the Tesla case. This, despite Tesla warning that Musk's inability to devote "full time and attention" as a major risk factor in its IPO filing.
"I wouldn't recommend running two companies", "It decreases your freedom a lot."
By that he means working 100-hr weeks and one flight every two days. Apparently.
Clearly, such a schedule is brutal and not everyone can do this and be willing to suffer the consequences thereof.
Moral of the story?
Not every founder stays around being CEO or COO or CTO etc and that's okay. People have different passions and skillsets along the business life cycle.
It's important to know one's limits, though.