This week’s VLOG
My decisions when managing my first start-up, First Research, weren’t perfect ones, but at least I made them quickly. Speed was my mantra! But if you want to do things slowly, log-jam your governance with fifty-fifty partnerships. Check out my rant.
Clarity of decision-making responsibility and authority is key. This is the main reason I advise against fifty-fifty partnerships. They can lead to awkward stalemates and messy negotiations. Generally speaking, I think co-founders work best together when there’s one person clearly in charge. The way to accomplish this is to have one president and for that person to own at least 51 percent of the stock. This doesn’t mean the majority owner should act like a “my way or the highway” head coach, though. If the majority owner is a bully, is selfish, and doesn’t work well with people, the organization is probably doomed; it’s that simple.
My advice is to avoid fifty-fifty partnerships. Any questions?
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Bobby have you ever found the less you say, dealing with a new start up,
the more people/investors want to know.
The exact opposite of the first start up I was in on.
New to me, not sure of the best to use strategy.