Create a Culture of Accountability

When developing an emerging-technology company—or any startup for that matter—the right leadership is critical. One of the biggest challenges is that early-stage companies are often dominated by a founder, a single individual who in some cases can provide great inspiration, but can also unfortunately create a sort of dictatorship and stifle growth. A company can’t scale when every decision has to go through one person. That’s why it’s important to build a culture of accountability and responsibility.

To do that, you must strive to foster in people the confidence to trust their own judgment, make decisions, think things through, and have conviction in their own skills and ideas. This applies not only to senior executives but to every single employee. Find the right people to surround you with and give them the ability to be successful. My management philosophy is to hold yourself accountable for your actions and give people the freedom to perform.

Jim Hemmer CEO and President Antenna Software Jersey City, N.J.

Before it's here, it's on the Bloomberg Terminal.