How do I pick a startup co-founder?
Starting a successful startup requires a great idea, a solid business plan, and a team of dedicated and skilled people. But the most critical decision is choosing the right co-founder. Noam Wasserman, the author of The Founder’s Dilemma, found that 65% of startups fail because of interpersonal tension within the founding team. So, picking the…
What should I do in the first 30 days of my startup?
In the first month of a startup, founders are often consumed by innovation, product development and go-to-market strategies. While these aspects are undoubtedly crucial, there’s an equally important facet that warrants immediate attention — establishing a robust legal and financial infrastructure. This article serves as a checklist for startup founders who have recently incorporated their…
What are the 10 contracts every startup should have on hand?
In the sprint of startup growth, speed is the name of the game. The ability to seize opportunities, attract talent and close deals quickly can be the difference between leading the pack or falling behind. However, an often-overlooked factor in maintaining this pace is having certain key legal agreements readily on hand. Well-drafted agreements allow…
What should startup founders know about drafting strong contracts?
Contracts are the lifeblood of any business. They define relationships, stipulate obligations and establish a framework for resolution in case of disagreements. Despite their pivotal role, the task of drafting a contract can often seem daunting. The language used needs to be precise, the terms fair, and the document itself should be legally sound and…
What are the fiduciary duties of founders in a startup?
Founders are juggling multiple roles and responsibilities. Amidst the whirlwind of raising funds, recruiting talent and launching innovative products, it’s easy to let corporate governance slip through the cracks. However, founders should be cautious not to overlook their fiduciary duties. These duties are core legal and ethical obligations in the pursuit of success. A typical…
How do I build an early-stage startup board?
A startup’s board of directors plays a pivotal role in the company’s success. The board of directors you assemble can significantly influence your startup’s strategic direction, providing guidance, oversight and valuable industry connections. But how do you curate a board that not only aligns with your vision but also complements your startup’s capabilities? This article…
How do I get the most out of my startup board members?
The quality, effectiveness and usefulness of your board of directors, especially in early-stage startups, are largely a reflection of the founders’ actions, efforts and choices. The founders must invest in their board members to get optimal performance out of them. Here are some ways to do that: Selection As a founder, you bear the responsibility…
What does my startup’s board of directors generally need to approve?
As a startup founder or executive, understanding the distinction between routine operational decisions and those that require board approval is crucial for effective governance and compliance. The board of directors plays a key role in the strategic direction of your startup, and certain decisions — deemed “material” — need their collective approval. This article delves…
How do I run an effective startup board meeting?
Startup board meetings are not just a routine procedure. They are a forum for strategic decisions and a huge opportunity for founders to seek invaluable advice. However, many startup founders struggle with how to run these meetings effectively. This article aims to provide practical tips to help you optimize your startup board meetings. We…
How do I take startup board meeting minutes?
Taking minutes during startup board meetings may seem like a mundane task, but in reality, it is a critical aspect of corporate governance. Not only do these records serve as a legal documentation of decisions made, but they also offer transparency and accountability, while providing valuable insights into the strategic course the company is charting….
