Jack Regan, Ph.D., LexaGene CEO, learned that to build a business it is essential to take the necessary time to build the right team at the beginning. “I tried my best to hire the right people to assist me in the early stages of my company—and with limited finances,” Regan said in an email exchange with FierceCEO. “I also incentivized top individuals to join my team and was willing to provide them with an equity stake that represented the value that new talent brought to the company.
Any way you look at it, it’s a long journey between the very early days of a business to seeing it mature and even flourish. And if you ask any CEO, along the way the path is never straight, lessons are learned and some shifts are complex, while others are simple. They culminate when the business gels into an operation that is a success because its CEO was willing to learn, pivot and, when necessary, ask for help from mentors and employees.