In this episode I’m setting out some preliminary discussion points for co-creating or co-founding a business venture with someone.
Keep these in your back pocket to examine new ventures and discuss with a potential co-creator.
Better yet – send them this episode and discuss after!
I go over:
- Co-founder first dates
- Venture relationship examples (co-founder, investment based, co-operator and and more)
- Why I don’t believe in 50/50 ownership
- Focusing on willingness to collaborate vs 100% agreement
- Planning for the end at the beginning and…
10 Questions to Ask Before Going into Business Together:
- What is my vision for this venture?
- What is their vision for this venture?
- Would I still want to work on this if it took twice as long and cost twice as much as expected to reach v1?
- Is this business model sound and do we both understand it & know how to work it?
- What is the exit strategy?
- How well do we lead together?
- What are our expectations for time and resources given on a weekly basis?
- What is the break up plan?
- Is this a relationship I’m willing to lose if things go south?
- Would I trust this person to make sound business decisions on my behalf?
———-
Resources:
The Residency is a 12-month life + business coaching container for high-impact entrepreneurs. We create clear, compelling vision for your life and work and then bring it all into reality in one year.
We’re blending sound business strategy, psychology and trauma-informed coaching practices to help you increase your business proficiency and mental/emotional maturity.
These tools will allow you to build whatever the hell you want (highly profitable business assets, deeply impactful nonprofits, narrative-shifting special projects…) for the rest of your life.
Enrollment is open now. Visit oyfn.co/residency to learn more and apply.
If you enjoyed this podcast, please leave a review on Apple Podcasts.
One Year from Now: The Newsletter: Join for access to live events + trainings, stay for the practical advice and shenanigans
Recent Comments