These founders are sane enough to know that every day is a fight for survival against daunting odds. They are crazy enough to believe they can succeed anyway. And retaining them in meaningful ways is essential to the long-term success of any company who acquires an entrepreneurial startup.

Too often, Boards think about running a company as an operating and execution job, flanked by rigorous financial models and metrics. And don’t misunderstand me here - operational excellence and financial integrity are certainly important. But when we reduce company leadership to simply metrics, milestones and financial targets, we negate other very important components of a business - vision, heart, and love.

• Founders have unmatched vision. Without the founder, the acquiring company may lose the vision that will take it forward; the vision that will adjust the strategy to the changing market; and the vision that can see the future in their mind’s eye.
• Founders are the heartbeat of the organization. Without meaningful engagement of the founders, those acquiring a business may lose the heart and soul of the company. The heart and soul of a business are the stories (the “remember when” stories, the “scary times” stores, the “I can’t believe we did that” stories). And the founder is often the keeper of the stories. These stories form the nucleus of culture and commitment to excellence.
• Founders love the business in unique ways that only a founder can. They fund holiday parties out of pocket because the company can’t afford such events, but they matter. They know employee birthdays and kid’s names. They show up for weddings and funerals. They nurture the team through the worst of times and celebrate with the team in the best of times. They love the people - because the people are the business.

This is where founders excel. Not just for their GRIT to try entrepreneurship in the first place, but for the vision they have for the company, for the heart they have for the mission, and the love they have for the people.

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