The key questions of co -founders must answer before starting the startup

Hi, I’m Dima, the founder of Pitchbob, and the second pilot for entrepreneurs and euquity.com-Zoriented on the EU Capital management platform. The start of a company with co -founders is an exciting undertaking, but also is serious challenges. Independent expectations, unclear roles or ignored details can derail even the most promising ventures.

Before you delve into the construction of your startup, it is vital to answer key questions about the partnership. Here is a comprehensive guide to questions that every founder team should answer to find out the strong basis of success.

1. Align the vision and goals

The first step is to make sure that each one co -founders share the same vision of the company. Questions to be asked are:

• What is the final goal of this business? Is it alleged to sell a company or build it for long -term growth?

• What impact do we wish our company to have the world?

• What milestones should we achieve during the first yr and for 10 years?

The mediocrity of “why” behind its startup helps in adapting priorities and gives tone to strategic decisions.

2. Define basic values ​​and principles

The values ​​and principles of your organization will shape its culture and decision making. Co -founders should discuss:

• What are the five basic values ​​that outline our company for each employees and clients?

• What rules do they conduct, how do we operate? For example, how do we support transparency, ethics and responsibility?

• What do we think about such concepts “false until you do it?” Are there restrictions on its use?

Early establishing common values ​​ensures consistency as your team and business develops.

3. Explain the roles and inserts

An ambiguity around roles and duties can result in conflicts and conflicts. Discuss:

• What is the specific role and area of ​​the responsibility of each co -founder?

• What are the expectations of time and effort involvement?

• What strengths does every co -founder bring and how can we use them effectively?

By defining these roles in advance, you reduce the risk of overlapping and make sure that everybody knows their contribution to the company’s success.

4. Deal with financial obligations and own capital

Money is often a source of tension among co -founders. To avoid misunderstandings, discuss:

• How will capital be distributed and why? Should he reflect financial investments, effort or each?

• Will there be a purchase schedule, and if so, what conditions will it contain?

• How will profits and dividends distribute?

• Can partners take personal loans from the company and under what conditions?

A transparent agreement in financial matters builds trust and prevents later disputes.

5. Decision and conflict resolution plan

Startups move quickly, and decisions should often be made under pressure. I conform to:

• How will they make decisions – unanimously, in response to most or other methods?

• What happens if the co -founder cannot participate in a critical decision?

• How will disputes be resolved? Will you utilize mediation, arbitration or other mechanism?

Having a specific decision -making process and conflict resolution ensures smoother activities in difficult times.

6. Discuss ownership and outputs strategies

Even the strongest partnerships may not last endlessly. It is mandatory to plan potential changes in property. Discuss:

• What are the conditions for the sale of shares or leaving the company?

• Do the other co -founders have the right to purchase actions of a departing partner?

• What restrictions do we impose on the transfer of ownership to external pages?

• What happens if one partner becomes inactive or cannot contribute?

These questions help protect the company’s long -term stability and ensure integrity to all parties.

7. Align risk tolerance and ethics

Co -founders often have different levels of comfort with risk and ethical boundaries. To avoid future misunderstandings, discuss:

• If mandatory, are we able to act in the “gray areas” of the law?

• How do we define “unethical business practices” and what methods are inaccessible?

• Are we open to work with government entities or creating public-private partnerships?

• Are there specific firms or industries we refuse?

The explanation of your borders from the very starting prevents uncomfortable situations.

8. Plan personal circumstances

Life happens and personal circumstances can affect business. Take care of these potential problems:

• Are there any current health problems, debts or responsibilities that partners should reveal?

• How will we deal with situations resembling prolonged absences on account of illness, burnout or personal obligations?

• What is the process dealing with changes in the partner’s ability to make a contribution?

Open communication on personal matters promotes trust and transparency among co -founders.

9. Define the expectations of cooperation

Effective cooperation requires common expectations on easy methods to cooperate. Discuss:

• How often do we meet to review our partner agreement and equalize our goals?

• Are there any restrictions on the implementation of side projects or similar firms?

• How will we deal with employing and managing employees, including friends or members of the family?

Regular browsing these expectations helps maintain healthy and productive work relationships.

10. Get ready for success or failure

Finally, get ready for the best and worst scenarios. Discuss:

• What will we do if our business model fails? How will we rotate or dissolve the company?

• What happens if we achieve an overwhelming success? How will we scale and separate the prizes?

• How will we serve the merger offers, acquisitions or strategic partnerships?

By planning all scenarios, you possibly can react to the possibilities and challenges of confidence.

Asking these questions early, you’ll build a solid foundation for your partnership-and you’ll prepare your startup for long-term success.