This time last week I was on Waiheke for the Angel Association first annual (!) summit for angel investors and the angel investing industry.  Highlights for me were sitting between Tom McAskill and Steven Tindall, the discussion led by Phil McCaw on creating value and of course, the networking.

The discussion on creating value focused on the concern many new ventures have in New Zealand - finding a CEO of the right calibre to lead the company.  It seems we're not short of capital, not short of innovation, but we're short of great leaders and commercial managers to drive growth in businesses.

The angels discussed how to 'tame' the inventor without losing their passion - recognising that the venture wouldn't have got so far without that passion, but that the inventor is probably not the person to take the invested company to the next level.  The general agreement was to try and deal with the human issues, in up front conversations, before the capital is committed.  With a realisation that it's easy to be rational outside the deal negotiation, but harder once you're in it!

 So if you're raising money, take a look at the team.  Are you the right person to lead the business once the money's in the bank?  Can you step aside, find a different role for yourself?  Do you know someone who'd be an ideal CEO?  Given the conversation I participated in, you can expect to be asked the hard questions about leadership, but also expect respect for your achievement, and an understanding of the transition you're going through.