Five CEOs Are Better Than One

If one chief executive isn't getting the job done, your organization might need four more.

But don't take my word for it. Instead, you should hear from a man who runs

companies with

other CEOs. “We've always used the analogy of 1 + 1 = 3,” Michael Browning, director at MOBI and Bluefish Wireless, told Benzinga. “The whole is greater than the sum of its parts. Each of us brings a unique viewpoint and expertise to the table. Whether we're solving a problem or planning a strategic move, there is a wealth of knowledge that contributes to the final result. Our strength is that we're each really good at different things.” Browning said that one of his partners is a numbers guy. Another is an IT “development guru.” He describes another as a “natural leader” that “manages our organizational chart.” “There's simply no way a single CEO could possess all these skill sets,” Browning insisted. “Equal ownership and compensation is important. Everyone needs to have the same motivations. Aligning your interests is critical. You have to get past any sense of a power struggle and focus on achieving the best possible solution, no matter who owns it. Sometimes you get outvoted and disagree, but in our case the consensus of the group has been right more than wrong.” To effectively manage not one but

companies, Browning said that there is “quite a bit of division of labor.” “After ten years, we have confidence in the strategic decisions we make as a team,” said Browning. “The second venture made us rely even more on collaborating at the strategic level but allowing each partner the autonomy to make day to day decisions without second guessing his methodology. “

“I'll tell you first and foremost that we all came from different backgrounds, education and career experience,” said Browning. “We were close high school friends who kept in contact after graduation with our own respective careers.” In 2001, Browning said that he and his friends noticed how quickly wireless technology was changing the face of business. “Companies increasingly were using cell phones and laptops to change the way business worked,” he said. “We didn't quite know how all this was going to play out, but the technology was exciting and it felt as if were on the verge of something that was about to explode. We collaborated for about two months on a business plan and finally set a date when we'd leave our full-time jobs to begin the Bluefish venture.”

What do five CEOs do when they disagree about something? I posed that very question to Browning, who said that the MOBI and Bluefish Wireless teams are comprised of a very passionate group. “When we aren't in agreement, it can get heated,” Browning admitted. “Voices get raised. The occasional chair has been thrown. Most often we'll defer, or at least give a lot of weight to the guy in the room who is the smartest on the topic at hand. Sometimes we disagree about who that guy is. Ultimately if we have to vote, the fact that there are five of us makes it easier as we never have ties. We pull the trigger and move on.” But what if a simple vote can't solve the problem? What if all five of the CEOs have a different idea? “It happens,” said Browning. “Usually at least once a day. You say your peace and let the group ultimately guide the decision making progress. If it ends up that one guy was right but the group went another direction, you better believe you'll hear about it next time that issue comes up.” Browning said that he and his co-CEOs have “always been good at is leaving conflict or disagreement in the room.” “Once we walk out the door for the day, any disagreement is behind us,” he said.

I asked Browning if there are ever any times when he or his colleagues wish there weren't five CEOs on the team. “Never,” Browning answered. “For as much value we each add to the business, we also cover for each other so we can prioritize other things in our lives outside the office. We all have families and young children. Every day there is some urgent fire drill that requires one of the partner's involvement. Five partners allows us to disconnect from the business when we need to spend time other places and feel confident those crises are being handled. “Again, one CEO could never manage the sheer volume of responsibilities within our organization and lead a balanced life outside of work.”

While the five-CEO format has been successful for MOBI and Bluefish Wireless, Browning said that it takes a “special kind of chemistry” to make it work. “I think having prior relationships with potential partners is crucial so you know what you're getting into,” said Browning. “There are 100 things that can trip this kind of strategy up – but if you can navigate those pitfalls, the upside can be wildly successful.” What does Browning have to say about firms like Research in Motion

, which failed by having just two CEOs (or one too many)? “As a relatively small business, we only answer to each other, our employees and our customers,” said Browning. “Public companies face an entirely different set of pressures from investors, Wall Street, analysts, etc. We thrive on being nimble, making decisions quickly, and changing course when we need to. At Bluefish and MOBI, it's the entrepreneurial angle that motivates us to collaborate.” If MOBI and/or Bluefish Wireless went public, Browning said that it would “dramatically raise the stakes.” “Those are the times when sticking to what works is critical,” he said. “We would rigorously work to ensure our management culture remained intact.” Further, Browning said that his team's management structure is “part of our DNA as an organization.”