One of the biggest factors that break-up a company is the cofounder relationship going south. Featured Thought Leader Nicole Glaros, Partner & Chief Investment Officer at Techstars, has helped cofounders develop a strong communication framework to get through difficult times and build a healthy relationship as the company grows. From talking about the elephant in the room to setting clear goals, these seven steps to founder communication success can help save your relationship and company.
About 65% of startups will break-up due to people issues. In this section, you’ll learn about the three main cofounder fail categories that cause a majority of people issues and why you need to start paying attention to this relationship.
Getting your cofounder and investor agreements in order can help you navigate through growth and tough times. In this section, you’ll learn about key business items to get in order in case a cofounder decides to leave.
Understanding the strengths and weaknesses, goals, and needs of your cofounder can help avoid the wear and tear on the relationship. In this section, you’ll learn how to develop a healthy rhythm of communication to keep your company moving forward.
Cofounder roles will change over time. And identifying who does what and how you make decisions for the company is crucial to maintaining a healthy relationship. In this section, you’ll learn how to set clear roles with your cofounder as the stakes get higher.
If there’s something your cofounder is doing that bothers you, it’s best to communicate these concerns early-on, and in a respectful way. In this section, you’ll learn key tactics to having difficult conversations and managing disagreements before the relationship blows up.
Without cofounder trust, your company could be headed for break-up. In this section, you’ll learn how to build a foundation of trust with your cofounder in good and difficult times through honest and clear communication.
Making sure you’re aligned with your cofounder can help mitigate problems while building a business. This exercise is designed to help you craft conversation starters with your cofounder and strengthen your relationship.