As a founder, you should ask yourself, “What is the final, desired outcome of my company?”
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Many founders don’t consider this one until it’s too late. The excitement and adrenaline of getting started leads to a “kumbaya atmosphere” where all things are equal. This spills over into salaries. Sooner or later, the amount of time, effort and energy expended by the partners is no longer equal, but their salaries are. Tensions begin to rise.
noun: value in a property, business, etc., that results from the work that a person does to improve it;
also : the work itself”
How to protect yourself and your business startup when the partnership falls apart.
The advice, counsel and support of an advisory board is required to accomplish substantive objectives of a scaling startup.
The capitalization table (cap table) summarizes who owns what part of the company before and after financing. It is one of the most important elements of the term sheet because it outlines the complete transaction succinctly using concrete numbers.
Any entrepreneur who is serious about his trade will need to know about the term sheet.
“A term sheet is like a prenuptial agreement and a coach’s playbook. Spend the time to understand the plays, and what happens should you ever separate from the business.”- Mitch Thrower
An efficient board of advisors is not accidental; they require planning. Here are twelve suggestions for creating highly efficient advisory boards.
A critical path analysis prevents scheduling conflicts in projects with numerous activities that have complex interactions.