Agreeing terms
To ensure that your founding team works together smoothly, it’s important that you establish some ground rules at the very start:
Equality. The amount of the business you own and what you will get paid need to reflect what you put into the company. If at all possible put in equal amounts of work, equal amounts of initial investment, own an equal share of the business, take equal pay, and so on. This helps to remove so many problems further down the line.
If this really isn’t possible, then carefully document what you’ve agreed each person will get and in return for what – how much each person is investing, how much time they will spend working on the business, and what percentage of the business they will own.
Leadership. There ...
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