ElevenLabs' CEO avoids ineffective delegation by first immersing himself in a new function (like sales or legal). This allows him to understand the fundamentals, which is crucial for assessing and hiring the right expert leader for that role.

When an executive leaves, the CEO should step in to run their department directly. This provides invaluable operational context for hiring a replacement and empowers the CEO to make necessary but difficult changes (org structure, personnel) that a new hire would hesitate to implement.

The core job of a scientist isn't knowing facts, but figuring out what's unknown. This problem-solving 'toolbox'—how to think, act, and work with teams to tackle new problems—is directly transferable to the CEO role, enabling leaders to navigate unfamiliar domains like corporate finance or legal structures.

To switch industries, find a role where your existing expertise is immediately valuable. After 18 years in finance, Gymshark's CCO moved to a retailer with a credit offering. This "bridge role" gave her the confidence and runway to learn the new sector while already adding value, de-risking the career transition.

After failing to hire the right leader for Expedia's largest business unit twice, Dara Khosrowshahi realized he didn't understand the job's requirements. He took on the role himself for several years. This hands-on experience gave him the deep operational understanding needed to finally identify and hire the right person.

When lawyer Amy Weaver felt unqualified for the CFO job, Salesforce COO Brett Taylor told her not to be a traditional CFO but a strategic partner. This reframing allowed her to leverage her unique skills instead of trying to mimic a predecessor, a crucial lesson for anyone taking on a stretch role.

Harvey CEO Winston Weinberg asserts that if you've never done a role, you will hire the wrong person 100% of the time. For first-time founders, spending even three months in a function provides the necessary context to understand the job's demands and successfully hire a leader for that position.

The founder hired an experienced CEO and then rotated through leadership roles in different departments (brand, product, tech). This created a self-designed, high-stakes apprenticeship, allowing him to learn every facet of the business from experts before confidently retaking the CEO role.

Luba Greenwood argues that unlike in tech, many biotech CEOs lack P&L experience. In today's cash-constrained market, CEOs need to be able to build financial models and understand finance deeply to be effective, a skill she personally developed after transitioning from law and science.