Episode description
In today’s Startup Therapy Podcast, Wil and Ryan talk about cofounder breakup. Likened to marriage, having a cofounder requires commitment that comes with consequences when and if the Startup fails and coming up with an action plan when the business turns out to be a total flop.
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- Startup Therapy Podcast
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What to Listen For
- 00:00 Intro
- 00:33 Cofounders often don’t last
- 02:07 Cofounders should talk about what to do when things doesn’t work out
- 05:36 We make a binding contract with someone when the Startup longevity is uncertain
- 06:57 Founders don’t consider what to do if and when cofounders leave
- 09:16 Making a commitment at a time we know least about the outcome
- 14:24 Assumptions you’re making about your cofounder
- 21:10 Be prepared to deal with fundamentally different decision making
- 25:48 Plan for divorce but hope for a successful marriage
- 26:54 Start with a vesting agreement
- 31:33 Sign a commitment that when not met has consequences