This episode of Smithfield Smackdown brings a grounded, honest conversation between Be Kaler Pilgrim and Lucy Bulley on leadership under pressure, building from chaos, and where investors should draw the line in hiring decisions.
Lucy, a self-described “startup wingman”, shares a candid story of losing her role during COVID when the business collapsed almost overnight. What followed was not a polished reinvention, but a messy, human reset. From setting up two businesses in a day to painting cottages to stay afloat, her path into fractional COO work was driven by necessity, resilience, and a clear focus on what she’s best at: turning operational chaos into something scalable and commercial.
That lived experience shapes her perspective today. She works closely with founders navigating scale, often for the first time, helping them move from idea to execution with clarity and pace.
The core discussion centres on a question many founders and investors quietly wrestle with: how involved should VCs and PE firms be in senior hiring?
Lucy’s view is simple but sharp. Investors should add value, not control. The best relationships are built on input, not interference. Founders need to actively seek perspective and insight, especially where investors have pattern recognition, but ownership of the final decision must stay with the business.
There is also a practical layer here. Poorly defined hiring processes, unclear role expectations, and too many voices in the room can quickly derail senior hires. Both Be and Lucy highlight the importance of structure, clarity, and knowing who is accountable for what in the process.
Alongside the strategy, there is a strong human thread. The conversation touches on shame after redundancy, the pressure leaders place on themselves, and what good leadership really looks like in difficult moments. Lucy’s proudest reflection is not a title or business win, but how she showed up for people during a crisis and the lasting impact that had.
Key takeaways:
Adversity can sharpen focus. Stripping things back to “what am I actually good at” is often the turning point.
Fractional leadership works because it is outcome driven. There is a job to be done, not a role to be occupied.
Investors should be a sounding board, not decision-makers in hiring. Input is valuable, control is not.
Clarity in hiring matters more than ever. Define success, align stakeholders, and run a structured process.
Founders need self-awareness. Knowing your own gaps is as important as filling them.
Leadership is remembered in tough moments. How you treat people under pressure leaves a long tail.
Overall, it is a conversation about balance. Between control and collaboration, speed and rigour, and performance and empathy.
