Important Questions Startup Co-Founders Should Ask Each Other
One thing I have learned in my experience with startups is that if you are not careful, you are as likely to experience as many challenges with your co-founder(s) as you are with the business itself. The following are some of the most important questions that should be resolved as early in the process as possible. In most cases, these issues only get more difficult over time...
1. How should we divide the shares? ..
2. How will decisions get made? ..
3. What happens if one of us leaves the company? ..
4. Can any of us be fired? By whom? For what reasons? ..
5. What are our personal goals for the startup? ..
6. Will this be the primary activity for each of us? ..
7. What part of our plan are we each unwilling to change? ..
8. What contractual terms will each of us sign with the company? ..
9. Will any of us be investing cash in the company? If so, how is this treated? ..
10. What will we pay ourselves? Who gets to change this in the future?