Louis Redding at Phoenix Remodel Group
How do you reconcile your differences in opinion as co-founders?
How do you reconcile your differences in opinion as co-founders?
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Business Coaching
I think the main thing is have a written agreement for resolving disagreements. If there are 2 co-founders this can put you at a standstill since voting would be split. I highly recommend an outside 3rd party that has no equity in your company. This person should be agreed upon by all co-founders. In the case of a split vote this person fills the roll of tie-breaker. Their decision may not be popular but it will help keep moving forward.
Deborah Vella at Support Legal
There are three main factors to consider, your ongoing relationship, your legals and your financials. Part of generating your business plan should be to include an agreement between you and your co-founder that deals with these scenarios. Surrounded by the positivity of your new startup, thinking that there may be disagreements down the track is the last thing on your mind. However disagreements do happen and it is important to have an agreement in place to manage those disagreements with minimal impact on your ongoing relationship, legals and financials. Without an agreement and in the heat of the moment, disagreements can become intense. I can assist you with what you need. www.supportlegal.com.au