As painful as it might be, I knew that we had to get into the broader market in order to understand it well enough to build the right product. Parado… - Ben Horowitz

Addressing the skill set issue proved to be difficult because, sadly, the only way to learn how to be a CEO is to be a CEO. Sure, we might try to teach some skills, but learning to be a CEO through classroom training would be like learning to be an NFL quarterback through classroom training.

However, intelligence is not the only important quality. Being effective in a company also means working hard, being reliable, and being an excellent member of the team.

Finally, be clear in your own mind about your expectations for this person upon joining your company. What will this person do in the first thirty days? What do you expect their motivation to be for joining? Do you want them to build a large organization right away or hire only one or two people over the next year?