The trouble with some entrepreneurs is that they have great ideas but little business sense. Instead of importing talent to run their companies, people like Yahoo’s Jerry Yang think they can do everything themselves. They can’t.
Kudos to Powerset co-founder Barney Pell, whose company was just acquired by Microsoft. Not because of his big payoff, but because he was smart enough to stick with his core expertise, having stepped down from the role of CEO late last year. Pell wrote on his blog last year that his strengths were “technology and vision, and not necessarily management of a large organization.” He also wrote that “bringing in a world-class CEO…will result in great long-term value for the company.”