It is impossible to foresee all possible situations your team might face in the future.

Writing a Cofounders’ Charter helps you define, agree and document the commitment of the founders to themselves and to the project:

• the main guiding principles and values of your team and the company you set out to build

• documents cofounders' roles and set milestones

• cofounders' commitment to the project

• cofounders’ needs and risks and their mitigation

• how will you resolve future disputes (if they arise)

It will give you a map from which you – as a team - can navigate in the unpredictable future – and remind you how you want to work together – and why.

Majority of businesses do not fail because of lack of ideas or cash – they fail because of teams.

Make this an important part of your team base set up.

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