Partner problems
Tonight I was attending a pre-event event (I know, right) for the Babson Entrepreneur Forum day being hosted tomorrow. We met some of the business plan competition entrants (disclosure, I’m a judge of the competition). One of the finalists has 6 founding partners. This is a big problem because they haven’t yet figured out their roles and responsibilities.
If you are starting a business please take the time to have the “who does what and for what compensation” conversation early on. The earlier the better. Partner problems and cap table disputes are probably one of the top three reasons startups never get off the starting blocks. Figure it out. It’s pays in the long run.
