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Bringing In a CEOSometimes it's best to give up your company's top job.

ByMark Henricks

Opinions expressed by Entrepreneur contributors are their own.

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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