HOW TO HANDLE A LEAVING COFOUNDER
The story of WYDR and protecting the company in case of a leaving cofounder
With change being the only constant, the question is not whether but when and what changes you will have to deal with.
Within the cofounding team, a very frequent, very disruptive, but often unforeseen scenario is a leaving cofounder. How to handle it? The best answer is by being prepared for the case it does happen - BEFORE it happens.
How to Handle Disagreements within Your Team by F10
Learn how the founders’ entrepreneurial savviness and the slicing pie model helped them to accommodate the different commitment levels throughout WYDR’s bootstrapping stage and to protect the company against dead equity – in the interview with Timo Hahn, Cofounder of WYDR.
Equity Split: A Conversation You Need to Have with Your Cofounders
“It is unrealistic to expect that during your business partnership your team will not encounter disagreements and conflict”, says Jana Nevrlka, cofounding expert, author of the book “Cofounding the Right Way” and start-up mentor at F10 FinTech Incubator & Accelerator. But conflicts are not necessarily a bad thing: “It brings an opportunity to surface underlying tension, improve understanding and self-knowledge and – if done well – increase the team’s cohesion”, states Jana.
Do friends make good cofounders?
“Selecting the right equity split is a life or death question – no kidding”, says Jana Nevrlka, author of the book “Cofounding the Right Way” and cofounding expert at F10. The example of Facebook – amongst many others – shows that the share of equity every cofounder holds is an essential element to get right.
Is cofounding the right choice for you?
Starting a business with a friend? Possible but mitigate the 3 biggest risks.
Despite the enormous popularity of choosing cofounders from existing social relationships (friends and family being a popular pool), after the honeymoon period ends, teams with prior social relationships tend to be signiﬁcantly less stable.
3 dangerous cofounding myths busted
There are many reasons why building a business with a cofounding team as compared to going solo is a good option to consider.
For some people, however, going solo is the more suitable option.
The absolutely essential question to ask first is: 'is business partnership the right choice for you'?
What is dynamic equity split?
Some of the cofounding myths we believe can be very dangerous. Why? Because they might cause you to make grave mistakes when building your own business. We will look on the most dangerous and frequent once – so you will be able to do the right decisions based on the right information - for your own business.
Dynamic equity split is the fairest and most flexible equity split for bootstrapped startups
Put simply – an equity split where the cofounders agree to adjust their equity share based on their real contributions - by using a pre-agreed formula and for certain time.