S8 E27 Cofounder Dynamics What works and what does not with Jeremy Gray

Episode 27 Cofounder Dynamics What works and what does not? Choosing a co-founder. the potential and pitfalls. Three issues to be addressed: Choosing Collaboration Potential Conflicts How well do you know your potential co-founder? Have you worked together in high stress situations? Pursuit of a common goal Share capabilities and values, your skills should be complementary rather than conflicting Your decison making prerogatives are clear. Are you and your co-founders equals? Do you have a shared understanding on these four areas: Splitting the ownership pie Decision making Title Responsibilities Dividing up the ownership pie What is fair? What motivates people? Title Being part of the team. 50:50 is not always appropriate Vesting ownership – lasting value really matters Can be most fragile over time. Clone, compliments, opposites Clones tend to magnify the strengths and gaps of each type Complimentary pairings do well if they can agree who does what and when Opposites might get stuck in disagreement. Its all about decision making. If you are a driver then a captain is likely to be the best fit If an explorer, a crusader or captain may be your best choice If you are a crusader, a captain or explorer would work well If you are a captain, then consider an explorer or crusader. The co-what question? Conversation first, negotiation second. Avoid adversarial discussions What matters to you may not matter to your co-founder. Ask What is your vision of where this company will go and by when? What is most important to you in that vision Money public recognition, personal pride freedom Which situations bring out our respective strengths? Which will expose our weaknesses? How will we resolve differences? Memorialize the agreements. Guy Kawasaki – Telescope, Microscope Gyroscope.