Wisdom From Wizards #260: Promote from within or bring in external talent?

We recently worked with Chris Scharman, CEO at AvTech Capital. Here we discuss whether CEOs should promote from within or bring in external leadership talent.

For CEOs scaling a $1M to $5M business, this decision shows up faster than expected.

Do you double down on your internal team, giving them clear career paths and the runway to grow into leadership roles?

Or do you inject outside experience and fresh thinking when the next phase demands new muscle?

Chris shares a powerful bias toward promoting from within because it builds loyalty, continuity, and a true sense of mission. When people see a future inside the company, performance rises and attrition drops. At the same time, he stays pragmatic. If the capability simply does not exist internally, bringing in external talent can unlock new perspectives and accelerate growth.

The real question for CEOs is not either-or. It is when to lean into internal development and when to

intentionally import new leadership DNA.

If you are scaling fast, this single choice can shape culture, execution speed, and long-term enterprise value.

Wisdom From Wizards with Nitin Kartik is brought to you by Caribou Strategic, helping CEOs grow revenue $1M+ in 12 months with our money back guarantee:

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