Bringing In a CEOSometimes it's best to give up your company's top job.
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Ben Kaufman got the idea forMophie, raised initial funding and turned it into a business while still in college. But as the Burlington, Vermont, developer of iPod accessories and other digital lifestyle products headed for its first anniversary and the $1 million annual sales mark, Kaufman, 20, saw the need for a more experienced person atop the organizational chart. So he hired Dave Schmidt, 45, a veteran youth consumer marketer, as CEO and demoted himself to head creative person. "I started the company so I could take ideas and have a forum for introducing them," Kaufman explains. "Hiring a CEO was the next logical step."
How to make hiring your own CEO work for you:
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