Founderitis

foun-der-i-tis [fown-der-eye-tis]

- noun
an entrepreneur that has grown a business from startup, facing insurmountable odds, that cannot understand that the world has changed around him and that he needs to face up to the reality that if things don't change, the business will die.

Last week I interviewed an executive that is currently looking for a new opportunity. Since he left his previous employer, he has been subject to a number of consulting mandates where the businesses were paralyzed by founderitis. I thank him for sharing this term with me.

Is there a cure for founderitis?

In many cases, the cure requires a founder to realize that they have founderitis. Most often with founderitis, the disease will not let them realize that they have it.

This is because most founders believe that they can fix their business problems. They've fixed problems before - They can fix them again. They feel that outsiders don't know their business like they do, so they cannot really help.

A major symptom of founderitis is the need to be in control. For many entrepreneurs, their business defines them to such a great extent that they cannot believe (or do not want to believe) that their business can do better without their omnipotent control.

So, they live their lives trying to own 100% of a pond (or puddle) as opposed to a lesser but significant portion of a lake (or an ocean).

There is a cure - it requires going through the realization that others may be able to help them achieve their goals. It also requires building a team of management and advisors, or even a board of advisors, to be able to see clearly and come up with a strategy to continue to grow and thrive.

Most successful long-term entrepreneurs have surrounded themselves with management and advisors to allow them to achieve the success they have worked so hard for.