This article was originally published by Fortune.com on Monday, Jan. 24, 2011.
While the thought of sharing control of your company can be nerve-wracking, those who have been through the transition swear by having a second set of hands. As long as they're the right hands.
By Katherine Reynolds Lewis
Since founding Secure Enterprise Computing in 1998, chairman Randall Bennett has seen business boom -- and bust. But when the demand for security technology began to crest a couple years ago, he knew that he didn't want to miss the opportunity to grow his company. He also knew that to ride the wave, he'd need to expand his leadership team and share control of the business.
"You can have 100% of nothing or 50% of millions," Bennett says. "I've seen a lot of entrepreneurs fail over the years. They're not able to give up [control]."
"I had a really good opportunity to work with her over the year and understand what her core strengths were," says Cauley.