Troodon, VV Billing Startup and other startups and future founders met again yesterday, April 20, in offline format at the StartupClub meeting. The club aims to offer all community members to ask questions and express freely the impediments they face or the hesitations they have. The organizers, together with the other members, approach the mentioned topics in an open discussion and find solutions.
The topic of discussion this time was: how do we work with startup co-founders? The question comes from the previous experience of some startups that have encountered difficulties in the relationship between partners, co-founders, or founders and investors.
We focused on other questions such as:
• The need to have co-founders;
• The most effective method of communication between co-founders;
• Recommended between a CEO and CTO;
• The process in which the investor becomes a decision-maker;
Clearly defining responsibilities in a startup is one of the main keys to the success of the idea. Co-founders usually divide the responsibilities of technological development, creative development and sales. However, the equal distribution of responsibilities is a controversial issue.
It is important to make sure that your partners are perceived as the people you are fighting together with. These are the people who will help you make the most important decisions or put away the most complicated barriers. It is obvious that each of the co-founders has their own vision of developing a product and only open communication can help to overcome conflicts.
Start-ups do not always make a profit from the first year of existence, and many do not even manage to go beyond the initial stage of life. When initiating a startup, we should discuss its development scenarios. Co-founders must also agree on what they will offer in return for the investment. The first investment is always difficult to obtain, but even after they have it, the founders must not lose their balance and negotiate the level of investor involvement in the decision-making process.
Both startups and beginners who are just starting out with their own startup idea can take part in the following Startup Club sessions. We are convinced that common support, exchange of experience and transparency will create a competitive and healthy environment for us in Moldova!