Where to find the right cofounder is probably one of the top 3 questions I get asked. Wanting your business to have the highest chance to succeed, it is indeed very important that you identify and select the best possible candidates. Check the overview of typical sources and their pros and cons.
Read MoreIt is much easier to find what we are looking for if we know what we are looking for. Cofounding decisions should be done by design, not by default. Learn how to identify the right cofounder for your business.
The cofounding team is one of the most important ingredients for building a successful business. But it is not that easy to build a team that will perform and last… staggering two-thirds of startups fail because of disagreements between founders. Learn how to do it right in this series, covering who is the right cofounder, cofounders dating and trial period and implementation tips.
Read MoreCofounder teams are more likely to succeed in the long run than solo founders. This belief is shared among many startup ecosystem members - from investors to accelerators. However, unfortunately, about 70% of business partnerships fail because of people / cofounders’ issues. How is it possible that if partnerships are good for us, why are we so disastrously bad in it? Because we underestimate the conversations necessary to set it up right, the knowledge required, and the time needed.
Read MoreWith change being the only constant, the question is not whether but when and what changes you will have to deal with.
Within the cofounding team, a very frequent, very disruptive, but often unforeseen scenario is a leaving cofounder. How to handle it? The best answer is by being prepared for the case it does happen - BEFORE it happens.
Read MoreLearn how the founders’ entrepreneurial savviness and the slicing pie model helped them to accommodate the different commitment levels throughout WYDR’s bootstrapping stage and to protect the company against dead equity – in the interview with Timo Hahn, Cofounder of WYDR.
Read More“It is unrealistic to expect that during your business partnership your team will not encounter disagreements and conflict”, says Jana Nevrlka, cofounding expert, author of the book “Cofounding the Right Way” and start-up mentor at F10 FinTech Incubator & Accelerator. But conflicts are not necessarily a bad thing: “It brings an opportunity to surface underlying tension, improve understanding and self-knowledge and – if done well – increase the team’s cohesion”, states Jana.
Read More“Selecting the right equity split is a life or death question – no kidding”, says Jana Nevrlka, author of the book “Cofounding the Right Way” and cofounding expert at F10. The example of Facebook – amongst many others – shows that the share of equity every cofounder holds is an essential element to get right.
Read MoreStarting a business with a friend? Possible but mitigate the 3 biggest risks.
Despite the enormous popularity of choosing cofounders from existing social relationships (friends and family being a popular pool), after the honeymoon period ends, teams with prior social relationships tend to be significantly less stable.
Read MoreThere are many reasons why building a business with a cofounding team as compared to going solo is a good option to consider.
For some people, however, going solo is the more suitable option.
The absolutely essential question to ask first is: 'is business partnership the right choice for you'?
Read MoreSome of the cofounding myths we believe can be very dangerous. Why? Because they might cause you to make grave mistakes when building your own business. We will look on the most dangerous and frequent once – so you will be able to do the right decisions based on the right information - for your own business.
Read MoreDynamic equity split is the fairest and most flexible equity split for bootstrapped startups
Put simply – an equity split where the cofounders agree to adjust their equity share based on their real contributions - by using a pre-agreed formula and for certain time.
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In the spirit of hope for the best and be prepared for the worst, it is unrealistic to expect that during your business partnership your team will not encounter disagreements and conflict. And it is not a bad thing! It brings an opportunity to surface underlying tension, improve understanding and self-knowledge and, if done well, increase the team’s cohesion.
Read MoreSo, after coming up with ‘the great idea’ many enthusiastic future entrepreneurs get stuck. On: how to choose the right company? If you do not happen to be a lawyer, or have one in your close environment, it might feel difficult to navigate your way.
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