Episode 35 - Partners, Co-Founders, and Equity Splits, Oh My!

EPISODE 35

Partners, Co-Founders, and Equity Splits, Oh My!

In this episode, we dive into the realities of choosing a co-founder or partner or sharing equity with someone else. We talk about how to do this in a fair way that sets you and others up for success, and we share the potential pitfalls that you need to be wary of before going too deep too fast with someone. Whether you know it or not, this decision sets up your startup culture for years to come, and can make or break your venture… So protect yourself (and your relationships) from the beginning.

This episode explores the upside, potential, and pitfalls when working out equity splits, bringing on co-founders and partners, and essentially making your first “hire” into your startup. Starting a company is the absolute best time (and maybe the only time) to level set with people who will have a stake alongside you in the company’s success. Level setting should include roles, titles, responsibilities, capital expectations, and so much more.

We also dive into the reality that not everyone who is a co-founder is necessarily a good manager or leader. The conversations you have early on will help you understand how you argue and disagree, how you handle and resolve conflict, and will show you where your collective weaknesses are likely to be.

This is not just about logistics, but rather this is an opportunity to build your culture intentionally from the beginning of your company. Business relationships are like marriages, and they need the same consideration, careful thought, and exploration and setting of boundaries before you say “we do”. Growth and decision-making can happen fast in a startup, and that’s the worst time to be working out chains of command or learning how to argue. Do it up front, do it in person, and you’ll set up your startup for the best success possible.

Cynthia shares these resources in this episode:
Slicing Pie
“The Four Obsessions of an Extraordinary Executive: A Leadership Fable”
Culture Index
DISC Assessment
Myers-Briggs Type Indicator®

Be sure to like, share, and subscribe to Precursa: The Startup Journey on your favorite podcasting platform and tune in for the next episode! 

Email us with any questions or comments (startup@precursa.com). Check out our website (https://www.precursa.com) for more information on getting your startup rolling.

Straight to you from Denver, Colorado, this is Precursa: The Startup Journey. We share the ins and outs of building a tech startup from inception to launch to revenue and beyond. If you’ve ever wondered what building a startup from scratch really looks like, you’re in the right place. With full transparency and honesty, we reveal it all about Precursa on our ride from idea to exit: the wins, the lessons learned, and the unexpected twists and turns.

Speaker 1 (00:37):
Hello everybody. And welcome back. This is Precursa: The Startup Journey. And today we are talking about something. I’ve gotten a bunch of these questions lately from people who are sort of in this place where they are ready to start this conversation. And what we’re talking about is partners. Co-founders how do you decide on equity splits? How do you figure out you are the primary ideator? You are, you know, essentially the CEO or the yeah. Originator of your idea. How do you bring other people in to get done, what you need to get done? And so I wanna spend a little bit of time talking about this because there’s a really key piece of this. That’s really important, and this is the absolute best time to handle it. And sometimes it’s the only time to handle it. And what I’m talking about is level setting with other people that you bring in to your realm to help you with your idea to build your company.

Speaker 1 (01:38):
Now, the first thing I’ll say is that when we’re talking about partners co-founders, and we’re about equity splits, there’s a really great methodology called slicing pie. And what it does is it lets you put in how much time are people spending, how much money are people putting in and it evaluates all of that stuff, all of the roles and, and things that people are doing to help it feel fair where those equity splits ultimately end up. Now, I love this method because it sort of forces some of the conversation that I want you to be having during this time. So when I say this is the best, and sometimes the only time to have these conversations, the conversations that, I mean are, you need to, to level set, bringing in a partner, bringing in a co-founder, bringing in someone who’s going to take equity in exchange for helping you get this idea off the ground or whatever that looks like.

Speaker 1 (02:36):
It is really, really important from the beginning. As soon as possible to level set, what’s their role? What are their responsibilities? What are they contributing? Are they expected to put in money or not in exchange for that portion of equity? What happens when you start building a team behind everyone? Are they management material or not? This comes up a lot when we’re talking about CTOs. So finding a co-founder who is a CTO or a technical person who can help you build your technology and get your idea out there and launched not all of those people. In fact, very, very few of the people who can make that happen actually really make good leaders and managers when there’s a team to be led and managed. So you need to have the conversation to set a realistic expectation to say if and when the time comes that we need to be hiring other people.

Speaker 1 (03:35):
And we need someone in a leadership role in the tech organ, if you are not the right person, or if you can’t handle that role, that is okay. And we will bring someone in, but we need to have that conversation so that you realize this isn’t, you know, you’re gonna get demoted later or something like that, right? This is, we need to do what’s best for the company. And these types of conversations, these level setting conversations are not just about the logistical expectations. They’re also a way for you as someone who’s built something or is trying to build something, bringing someone in to build something. This is a way for you to you understand who’s got ego in the game, where are people’s motivations? Where are you going to have challenges with those motivations? Because, and this is why I say sometimes this is the only time to have these conversations.

Speaker 1 (04:36):
These conversations don’t get easier as your company grows, right? So a lot of people, what they’ll do is they’ll say, well, my, my friend, who I’ve known for a really long time, he’s a really great developer and he’s agreed to jump in and help me out. And so I’m gonna split it with him 50, 50, or 60 40 or whatever it is, right. And that’s, as far as they take the conversation, then they dive in and they go. And the next time that it occurs to them, that there’s a conversation that needs to be had about roles and responsibilities or whether or not they’re gonna be a good manager or whatever is when it’s already too late. Right? So it’s when you’ve got three other people who are on the team and this guy is still alone Wolf working on his own and he’s not keeping up.

Speaker 1 (05:20):
Or he is really good at the development piece, but he is terrible manager, right? Or it could be any number of things or it could be your it’s not going anywhere. You really, really need to bring somebody on who can help you with sales and marketing because that’s where you realize you’re, you’re, uh, limited, but he’s not willing to give up any of his equity I’m so, and he could be a she too. But the point being there is a lot about a business relationship. This is like a marriage and I’m not overstating that in fact, most people put more time and attention into their business relationships than they do into their marriages. There’s a reason we call them work wives and more husbands, this relationship, business relationships, especially when you’re talking about co-founders and equity shares is so critical to the success or failure of your company.

Speaker 1 (06:14):
Don’t take it for grant. It don’t overstep this. So what are the kind of things you should be talking about? What are people’s responsibilities? What do you expect of people if you’re giving away a large chunk of your company to someone. And when I say a large chunk, that can mean, I mean, five to 10% is a very chunk. Especially when you start talking about what you would bring in investors for, this is an investor in your company in exchange for that equity. Do you expect them? If things don’t go perfectly to plan, which they never do by the way, but if things don’t go perfectly to plan, do you expect them to put in that percentage of amount of money if it’s needed? And if you don’t expect them to make monetary contributions, you should reduce the amount of equity that they get. Because the reality in the world of a startup is that the thing that has the most value is money.

Speaker 1 (07:14):
And as much as I hate that, and as much as I rail against that in as much as it makes me bristle, when we talk to our investors and they say, yes, but my money without my money, yes, it makes us bristle. And we don’t want to think that, but it is the truth. And so you need to be realistic and say, if I am bringing you in as a 50 50 partner, if we’re in a position where we have to bring in some money investments not coming through, or it’s still a little ways out and we have to sort of fund some things ourselves, are you going to put in money? Are you expecting other people who are in with you at this point to put in money, have this conversation before you make any commitments about sharing equity with someone? If that person is like, Hey, I’ll give my time.

Speaker 1 (08:03):
I’ll do like all these things, right? But I can’t put in money or I’m not willing to put in money. I’m not willing to go there. Very important information for you as the founder to have what that will give you. Like I said earlier, it’s not what is their level of commitment? Because let’s be honest, not everyone has money that they can put into something like this. Some people, their time is what they have to give. And so it’s a big deal when they give it, but you are gonna need money. And so if you’re bringing someone in who either can’t, or won’t put in money, if it’s needed to bridge or whatever that looks like, you need to reevaluate the amount of equity that you give them. Okay. Someone who’s putting in time, that’s very valuable. And especially if it’s someone who’s building, you know, the MVP version of your product, or, you know, doing a trade for, for development or something like that, that’s, that’s great.

Speaker 1 (09:01):
You may need that and you want that, but you need to be very careful how much equity you put into this person’s hands. And talking about those responsibilities, talking about what is your expectation are you will to, this is so as I’m talking about all this, what you’re hearing, what you may be hearing in your head is now I have to get a lawyer involved and that’s expensive and it’s paperwork. And I don’t wanna be that formal from experience. Be that formal. I cannot, I can’t tell you enough how important it is to be exceptionally formal when you are putting all of this stuff together. And the reason is because you’re making these agreements. Now you’re gonna ask all these questions and have these conversations. Now you’re going to set expectations. Now you want to be able to refer back to that later. If tensions are high, emotions are high.

Speaker 1 (10:01):
People are remembering things that didn’t happen. Get it in writing. And as much as I know, we all hate to spend money on attorneys. It feels like money down the tubes do not skimp on this. We’ve talked about this before. Don’t skimp on attorneys. This is absolutely a time when you don’t skimp, because here’s the thing. You may really love this person who’s coming in and you wanna give them, you know, the maximum 40% you know of your company, you need to outline, they are diluted the same as you, but do they have the voting rights that you have? Do they have a 40% say in the company or is it only equity? Is it silent? Shares? All of that stuff. Attorneys are great at asking those questions, sparking those conversations so that, you know, going in you are on the same page. Now you may or may not outline roles and responsibility use quite as much in those documents have the conversations.

Speaker 1 (11:01):
Is this person a good manager? Will they be able to take their role and turn it into a leadership role or not? And like I said before, these conversations don’t get easier. When there’s more at stake, they get harder. They get more difficult, especially because if in your mind, you’re relying on someone to live up to something, but you haven’t talked about it now, going back to them and saying, Hey, I was really depending on you to step up and kind of make this happen. And they go, well, I never said I would do that. That makes it a lot harder. And it creates more attention rather than leaving any tension that may be happening. And here’s the thing about startups. When things start happening, they happen fast. You don’t always have time to sit down and do a, a, a big meeting and hash stuff out and fit.

Speaker 1 (11:52):
Sometimes you gotta make decisions fast, and you have to know who’s in that chain of command. Who’s responsible for helping make those decisions. How do I make this happen with intentionality, but also with the speed that I need to keep up with the growth or the, the movement of my startup, right? Here’s the other thing I wanna say about this? Do this in person, do it face to face. I will be the first to tell you that I struggle with this. I am better in email because I have a chance to think through what I wanna say. I can get rather emotional. At times I used to get more angry and heated. When I was younger, I have grown out of, most of that. I have fear of confrontation. I have trauma from when I was a kid with, you know, arguments and yelling and, and addiction and things like that.

Speaker 1 (12:42):
Right? So when I am in it, what feels like a confrontational situation? My reaction is to fight or flight, right? I mean, everyone’s is, but my, I can feel my start to beat really fast. My mouth gets really dry, like, and so one of two things happens. I either fight, like literally start fighting or I retreat. And I have learned over the years how to manage this in a moment and to develop coping mechanisms where I can say, okay, in this moment, I can feel this stuff happening in. I need to take a couple deep breaths, leaving space in a conversation, being able to take a step back and say, okay, what would come outta my mouth right now is not what I want to say. Let me just take a couple moments of extra silence. Let me take a couple deep breaths. Do I need to ask for respite?

Speaker 1 (13:31):
Do I need to ask for us to continue this conversation later? Or am I comfortable giving myself a couple minutes to regroup and continuing in the conversation? Am I comfortable staying in it and then asking for what I need? Right. So I am much better over email. I’m better over text message. I really hate the phone phone is like the least way to understand what’s going on. On the other side. I think zoom makes that a little bit better. If you can see the person’s face, because that helps you. But ultimately there’s nothing like being in the room with someone and having a conversation, sensing the energy feeling. If there’s pressure, if there’s tension somewhere, this conversation is so important to the future of your startup. And if you don’t treat it that way, if you don’t give it that care, if you don’t take the time, now, it just is gonna be so much harder later.

Speaker 1 (14:24):
So do it in person, have the hard conversations, listen for and feel, you know, you can feel it in your body when you’re having a conversation with someone and there’s a piece of tension, do dive into it because here’s the other thing that you learn in this conversation. You learn how you argue, you learn how you disagree and you learn how you resolve arguments and disagreements. And I can promise you as the founder of a startup with a co-founder or someone who has equity, that could potentially get a huge payout, if you do, or you don’t, or if you both do your job, or if you don’t or whatever, you are going to have disagreements, you’re going to argue and you need to know how are you going to handle that? And this conversation before any agreements have been made before anybody owns anything and digging into those areas of tension, those areas of pressure, those areas where they’re uncomfortable will reveal, what are each of your argumentative styles?

Speaker 1 (15:23):
What are your disagreement styles? How do you handle pressure? What does each of you need? And having that convers and understanding that now, before you sign on the dotted line means that it will be infinitely easier because you will be able to know each other and respect each other and understand how each other works in any of those moments that come in the future when it matters, when it’s more urgent, when you have something at stake, something on the line. So I read this book and I can’t recommend it enough and I’ll stick it in the show notes, it’s called the four obsessions of an effective executive or an efficient executive or something like that. And it’s told in sort of a narrative format, very different from many other, any other, uh, business or management book that I’ve ever read. It’s told like a story, right?

Speaker 1 (16:14):
And so what I love about this book is he, he’s a CEO and founder of this company and it’s like a consulting company or something. Right. But he’s got, he does these executive meetings and they bring in this guy who doesn’t really sort of fit, but through a series of circumstances that you find out in the book, they don’t really know that he doesn’t fit until much later. And so he’s sort of the fly on the wall and, and, and kind of like the, an hero, the story, I guess, or the antagonist, or I don’t know, whatever, not a writer. I love to read though. <laugh> but the CEO, one of the, one of these obsessions understanding really well, who the people are, who are around him. And so one of the things they talk about is they do, I’m talking about like a real company is a fictional company, but, but the principles are good.

Speaker 1 (17:04):
And one of my clients in my consulting business actually does something very similar in the book, the four obsessions, they talk about, they do a disk profile or, uh, Myers Bri profile, right on everyone so that they understand what are people’s conflict resolution styles. How do people argue? How do they disagree? Because what’s really important in a discussion or meeting where there’s disagreement that happens is that eventually the decision that needs to get made gets made, whether everyone agrees or not. And everyone who didn’t agree is on board with moving forward with the decision that did get made. And so sometimes what that looks like is in the moment you’re arguing passionately for your viewpoint, but the person or the people, or, or whatever vote or whatever it is that ultimately makes the decision goes a different way than what you would want. You can say, okay, great.

Speaker 1 (17:54):
My voice was heard. I know that all of the information was assessed. I can get on board and I will do my job, and I will do it exceptionally well to make this decision and the direction that we’re going as successful as possible, right? That’s a healthy company. That’s a group of people that can hear what needs to be said, and then move forward as a team, as, as one voice to make something happen, whether they were on one side of the argument or the other. So one, I was, I was saying that one of my consults to clients, they use a very similar process, but they use a, um, a mechanism called the culture index. And I’ll tell you, you know, I I’ve done disk, I’ve done Myers Briggs, I’ve done a million of these. I have never seen one that is as good as the culture index at revealing so much about people’s working styles, what even down to what roles would they really be good in?

Speaker 1 (18:52):
Do they match the role that they’re being hired for? Is there something else they’d be better at this company has so little turnover, their environment is an amazing one to work in. And I really feel like it’s because of the culture index, you know, we, so I, they did it, you know, the, they had me fill one out because they knew I was gonna be a very critical part of their team. Even though I’m a technically a consultant. I’m a very, very critical part of their team as their fractional CTO, as they start to take on more in the realm of technology. And so I’m hiring, I’m hiring other people for them. And, uh, you know, I’m doing all this work. So they wanted to make sure that I fit well with what they do in their organization. And anyone that I’m thinking about hiring also takes one of these.

Speaker 1 (19:36):
And it’s incredibly interesting what it reveals. So my, one of my architects, uh, I I’ve brought him on to help me with some of this work. And he took the test. And as I was reading, I was like, oh my gosh, this is him to a T. I mean, even to the point of how he handles conflict and how he addresses, uh, like resolving that for himself and what sparks his anger versus what makes him happy and what, you know, what makes him frustrated versus what makes him satisfied. And I, I was just, as I was reading his assessment, what I started to realize is understanding to that level things that people can’t even always articulate about themselves until it’s put down on paper for them will also help facilitate a conversation like this, but also help you understand what is the culture you’re building from the beginning.

Speaker 1 (20:30):
And it would be really easy to think, well, I’m bringing on this person so that I can get this thing out the door and we’ll deal with culture. Later. Culture happens from your very first hire. And your very first hire is the very first person, whether it’s equity or money, who is contributing to the startup, that you idea that you created, that you came up with culture happens from the beginning, whether you intend it or not, whether you are intentional about it or not. So be intentional is what I’m saying. Have these conversations go deep with people. Don’t be afraid. You are the CEO. And if I’m talking to you or you’re listening, and you’re not the CTO, then you need to understand the relationship that you will have to the person who is your CEO. And you need to be looking for these markers in that person.

Speaker 1 (21:25):
Do they shy away from con conflict or are they ready to step in ready to have conversations that might be difficult, ready to make decisions as a CEO, your job is to ultimately make a decision about anything. I mean, your founding documents and your operational agreements and all that kind of stuff will probably dictate your structure. But you as the CEO are the captain of the ship, there’s no getting around that. If you have a direction that this company needs to go and you have to get people on board, part of your job is doing the work to get people on board. It’s doing the work to encourage people, to see the, the arguments and agreements that you need them to. It’s encouraging. It’s steering the ship in the direction that the ship needs to go. And sometimes that means when people don’t agree with you, you need to listen.

Speaker 1 (22:18):
And sometimes it means that ultimately the decision is going to fall on you and you are going to have to convince people that they need to listen. So if you are the CEO, you, this conversation is an opportunity for you to establish how do you want to deal with conflict resolution? And it’s also an opportunity for you to see the people who I’m going to be bringing on the people who I’m going to be working with me. How do they handle this? Am I comfortable with digging in with them? Am I comfortable pushing on them? Am I comfortable being pushed on by them? And if not, is it that I need someone else or do I need support? And do I need to find someone to help me be a better manager? Do I need some management coaching? If you aren’t the CEO, if you are a support role, CTO, CIO, CMO, COO C, someone else in, you know, a VP level or director level, you need to understand is your CEO, the person that you’re essentially gonna come work for, are they handling things in a way that you can respect in a way that you can get behind in a way that makes sense to you where you feel like when important things happen, they are going the right thing for the company.

Speaker 1 (23:31):
And they are going to, you know, show the values that matter to you. Does it matter to you that they listen to your, to your ideas, that they listen to what you have to say, even if they don’t agree and they don’t go with your opinions later, maybe that doesn’t matter to you as much as protecting the people, right? Protecting you as a, as a resource, as a human, as a person inside this organization, all of this stuff that I’m talking about, this is culture. Whether you do it intentionally, or whether it all happens by accident, you’re building it from the very time. You agree to bring someone on to build something in your company. Now, here’s the other thing you have to recognize, not having this conversation, not having formal agreements leaves you open to something that I’ve seen so many times, which is people do whatever level of work they do.

Speaker 1 (24:24):
You get to whatever level you are. If it’s not enough, or maybe it is enough, but they didn’t contribute enough, but they still have all that equity cuz you gave it to ’em upfront. And now you’re ham strung or you’re you are diluted more than you necessarily should be because you didn’t know to build in a cliff or you didn’t know to build, to build in vesting for the equity that this person is gonna be getting based on either milestones or timeframes or whatever that is for you, right? I, I’m not telling you what, how to do this. I’m telling you what you need to be thinking about because not everyone is going to come through the way that you think they’re going to come through and everything’s not always gonna go perfectly. Nothing is ever a linear unchallenged, completely straight path. From here to there, you need to understand more than anything conflict.

Speaker 1 (25:21):
You need to understand how do they do it? How do they resolve it? How do they argue? Because everyth in a business is about conflict. That doesn’t mean there’s always conflict, but not meeting sales numbers or exceeding sales numbers is actually a form of conflict because you may not be ready to support all of that new business that just came in. And now you’re under a, you’re under a pinch to solve some problems so that you can that’s conflict, right? Good businesses that are growing at a healthy rate. There is always conflict. So understanding how that works. This is the time to have those conversations. Resist the urge to treat these conversations as throw away. This is a big deal. All look, the reality is in the startup world, a lot more companies fail or go nowhere than, than go somewhere. But a lot of the reason why a lot of those companies fail and don’t go anywhere is because they don’t have the skills and the, and the leadership that they need.

Speaker 1 (26:25):
They don’t have the skillset. They don’t have the talent on their team in order to get to the next place. So treat this very, very carefully. I’m not telling you to be stingy, do not be stingy, do not be stingy. Being stingy is a really great way to alienate people to shut down your company before it even started. I mean, being stingy is a really great way to, to affect your company in a negative way before you even ever get started. Okay. So please don’t hear this conversation as I need to be really stingy or, or hold my shares really close to the best. I’m not saying that. I’m saying you need to understand who you’re getting in bed with. You need to understand it so well that it doesn’t bother you. That there may be an argument coming three weeks from now about something, because you know exactly how that’s gonna go, you know, your argumentative styles, you know how you resolve conflict, do not treat this as a throw a conversation.

Speaker 1 (27:24):
I’m and again, I’m not saying be stingy, be generous, be, be, be really, really generous when you find the right person. But know for certain you have the right person and know for certain what kind of culture you’re setting yourself up for from the beginning, by having this conversation and having it like it matters, do it face to face don’t step over the stuff that’s uncomfortable. Be willing to put pressure, be willing, to feel pressure, be willing to poke where there is pressure or tension, because I, I can promise you this makes or breaks companies later. It can make or break companies soon, but it can definitely make, could break them later. I’m watching a couple of these types of conversations happen right now with people where they’ve got hundreds of thousands of dollars in the mix and it’s devastating and it’s, it can be scary at times and it can be painful and it wrecks relationships.

Speaker 1 (28:19):
There’s nothing to wreck a relationships like taking it from a friendship or a type of, you know, nonbusiness relationship into a working one and people who navigate that well only do so because they aren’t willing to step over things or let things go. They understand how important every piece of this conversation is. And they give it that importance and they give it that weight from the beginning. So when you’re looking for partners and co-founders, this is the most important piece of this. The very next logical question is, well, where do I find these people? There are tons of places online. We’re actually building a portion of Precursa. It’s not gonna be in the MVP, but it’s in, it’s in either the first or second, uh, phase launch, right after, right after MVP, an initial launch, we’re actually building an area where you can post for, you know, Hey, I’m a developer and I’m interested in working for equity or Hey, I’m someone who’s built a startup before.

Speaker 1 (29:16):
I’m interested in being a co-founder on the business side or on the technical side or whatever that is, right? Like, so finding equity talent or finding co-founders. But there are a lot, lot of places out there that are entrepreneurs who are in communities who are, who are looking for another project or who are looking, you know, for this very kind of thing. So on the internet is a great place to look, look for co-founder dating, look for, find a co-founder like do some Google searching and see what comes up, look around in your circles. If you’re, if you’re doing something that you are an expert in which if you’re building a startup and you’re trying to solve a problem, an industry that you know, really well is the place where you should be looking okay, because your first five or six customers are already in your network.

Speaker 1 (30:01):
If you go that way, if you’re trying to break into something totally new, it’s a lot harder. It’s not impossible. It’s just a lot harder. Look around you for the people who are already doing stuff in that world. Who’s good at what they do. Who’s a good manager. Who do you work well with? Who do you know their style? Who do you know, creates a great culture? Who do you know as the same values as you do? You know, that has the skills. Who’s really good at those skills that you need. These are look around you, your environment, your immediate community is the absolute best place for co-founders and partners and investors when you are pre-product and pre-revenue no one else side of your community is ever going to be as invested or know who they’re backing as well as the people who already know you.

Speaker 1 (30:48):
So don’t minimize, like don’t look at the five, five closest friends and go, well, it’s none of them. So I guess I’m outta look. No, there’s a reason. You have thousands of connections on LinkedIn. There’s a reason that you, you tend to gravitate it towards particular companies or particular people. If they leave a company and go somewhere else, you always end up working with them. Again, those are the kind of people that you’re looking for. Okay. Do not take this lightly. Look to have lots of conversations, talk to lots of people, be willing to have that sort of deep dive with a lot of people who feel like might be right, do not sign anything, do not without first of all, getting an attorney involved. But then also without that deep dive conversation, the last, the last thing I’ll say, I mentioned it very briefly before, but I can’t say enough for vesting equity.

Speaker 1 (31:38):
It’s a really great way. You know, especially in the world of a startup, when in the first few year there may be no money and people may have, you know, they may ebb and flow with what they’re doing or what their timeframes are or all the things, right. There is something really comforting about knowing someone’s equity is vesting with milestones, with dates, with real work invested in the company, because it, it protects you, it protects your company, it protects your investors and it protects your equity structure for future investors. So that your dilution is only as much as you have to in order to get to the place where you’re ready to sell, or you’re ready to a public or whatever that is that you’re ultimately looking at as your exit. So please, please, please build investing structures. I can’t say enough how important those are.

Speaker 1 (32:27):
And this conversation will tell you this deep dive level setting on responsibilities, roles, contributions, money, or no money management or not in the future, et cetera, et cetera, this can make or break your company. So treat it like that. Give it that weight, give it that gravitas because it is that important. Okay. All right. So we will be back with some very exciting guests in the coming episodes. I don’t know if I’ve at it yet happy new year. Uh, it is 2022, whether we can believe that or not. And this may be the year. Maybe this is maybe this is the time when you’ve decided this year, I’m gonna do it. I’m gonna take the step. I’m gonna become a founder. I’m gonna become an entrepreneur. I’m I’m gonna stake my claim in the world of starting something new. I can’t encourage you enough to take the leap.

Speaker 1 (33:20):
It’s not as scary as you think, if you want help, if you’re not sure if you’re like, okay, I have this idea. I’m ready now, what do I do? Sign up for Precursa. We’re gonna be doing our launch sometime Q1, we’re limiting it. It’s early access. There’s gonna be, you know, there’s gonna be areas where we’re not really sure what you’re gonna need as a founder in this, in this way. And so we’re gonna be offering office hours and a ton of support through group coaching and all kind. Like there’s gonna be so much opportunity for you to get whatever help it is. You need whatever answers you need. I can’t encourage you enough. Sign up, get yourself on the list so that you at special access code for early access, as soon as it’s available. And in the meantime, reach out, maybe you wanna come on the podcast and talk about questions that you have, or maybe you shoot me an email with some questions that you have reach out, startup@precursa.com.

Speaker 1 (34:15):
I promise I don’t buy it. And if you have any questions about what we talked about today or other questions, I’d love to have your questions. I’m always looking for good topics. So keep doing that, keep engaging and please, please, please like follow this podcast, give us a five star rating and please tell five of your favorite people who are interested in entrepreneurship, that we are here. All of it helps raise the love of our voice and helps us reach and help more people. And the last thing I’ll say is I’m, I’m very, very grateful for every single one of you. Our listenership has grown organically over 2021. And in 2022, we are going to be putting more emphasis on growing this audience. And so for the five to 600 of you who have grown very steadily and who have been very, very loyal and who have sent lots of really great questions and have been so engaged, I am grateful for you.

Speaker 1 (35:10):
I thank you so much and get your name on that list because you are the people who are most likely to be on that list. And I want to reward you in the future, and I’m gonna be looking at that. Uh, you know, the people who, who joined in 2021 in early 20, 22, like, you know, January 20, 22. So join today, join today, join today. I want to get you into the early access. It’s going to be free to you for early access, and there’s gonna be so much great stuff. And I want you to have access to all of that. So happy new year, we’re thrilled that you’re here. It’s gonna be a great one and as always happy entrepreneuring, and I will see y’all next time.

Thank you for listening to this episode of Precursa: The Startup Journey. If have an idea for a startup and you want to explore the proven process of turning your idea into a viable business, check us out precursa.com. Make sure to subscribe to this podcast wherever you listen to podcasts, so you never miss an episode. Until next time…

Cynthia Del'Aria

Cynthia Del'Aria is a serial entrepreneur and tech startup ninja, specializing in product-market fit and idea validation and helping new entrepreneurs reserve their time and money for the idea with the best shot at success. With two successful exits before 30, an active high-profit-margin SaaS in the commercial airline space, and two additional startups in the works, she knows what it takes to traverse the entrepreneur journey, the highs, and the challenges of turning a vision into a successful, viable business.

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Copyright © 2021 Precursa  |  All Rights Reserved  |  Site Created by Natalie Jark

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  • Denver, Colorado

  • startup@precursa.com

Copyright © 2021 Precursa  |  All Rights Reserved  |  Site Created by Natalie Jark

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