I don't think the decision is as simple as "I run it, or I sell out." Private companies hire CEOs fairly often.
If you could get a professional manager in to help run your company, you would still have control and could fire/replace him. Richard Branson does not run his 250 or so companies simultaneously - he uses professional managers. He pools risk but the firms remain private.
If you sell out, you lose control of your business. That can be a good or a bad thing. (But you can only really get out if you lose control of the business.)
As my dad tells me, "If you sell out, get out." It's wise advice.
If you could get a professional manager in to help run your company, you would still have control and could fire/replace him. Richard Branson does not run his 250 or so companies simultaneously - he uses professional managers. He pools risk but the firms remain private.
If you sell out, you lose control of your business. That can be a good or a bad thing. (But you can only really get out if you lose control of the business.)
As my dad tells me, "If you sell out, get out." It's wise advice.