When you are a young company, your story will define your valuation and as a founder the words you use to describe your business can be the difference between finding an investment partner or not. With mature companies, it’s your numbers that will drive your valuation as the older a company the more the numbers drive the valuation. Start-up companies need “Steve the visionary” as CEO. As they become a young growth company they will need, “Bob the builder” because they have to start building a business. When they become a mature company, they will need “Don the defender” as CEO and when they are in decline, they will need “Larry the liquidator”.