The exit plan. Deciding when to step back

August 25, 2018

Not many founders are willing to lose their positions let alone powers in their company. Let’s face it, it’s your baby! However sometimes you need to step back in order to move your business forward and as an entrepreneur it is always important to know when to step up, step back or even step out. According to the managing director of Norda Industries, Faraz Ramji, stepping back from his CEO position seemed to be the right option in 2017. After carefully thinking it through, Faraz stepped back by giving up his CEO position. He thought he could do more for his business by becoming one of the board members. In the one year after he started stepping back, his team introduced new product lines, secured business in areas he couldn’t have envisaged and set up new product development processes. According to him he still contributes more to his business and happy that way. Sometimes it’s not always about the power or position, most times it’s all about what’s best for your business. Faraz Ramji, Founder of Norda Industries, was a guest at Founders drink up held in March 2018. To get access to the full podcast, email  

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