CEO’s and managers in high growth environments don’t have time to micro-manage. They need staffers who can JFDI, without requiring a lot of care and feeding.
If you have someone on your team who is consistently overdelivering, requires little supervision, and makes the team around them markedly better, promote them immediately and give them more responsibility along with that promotion.
A promotion is a great way for a CEO or manager to recognize ‘A’ players, to position them as role models within the team or company, and to regain valuable management bandwidth.
If you’re thinking seriously about promoting someone, especially at a startup, then it probably means you should do it. I have managed people who fit into the ‘Promote Fast’ bucket before, and the only regret in my time working with them was that I did not promote them sooner.