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Often downplayed in the thrills of starting up a new business enterprise is one of the main decisions business owners will face: should they go it exclusively, or generate cofounders, hires, and shareholders to help build the business enterprise? A lot more than just financial rewards are at stake. Friendships and connections can suffer. Bad decisions at the inception of a promising venture lay the foundations because of its eventual damage. The Founder's Dilemmas is the first booklet to examine the first decisions by business owners that can make or break a startup and its own team. Drawing on ten years of research, Noam Wasserman uncovers the normal pitfalls founders face and how to prevent them. He talks about whether it is smart to cofound with friends or relatives, how and when to break up the collateral within the founding team, and exactly how to recognize whenever a successful founder-CEO should exit or be fired. Wasserman points out how to assume, avoid, or recover from disastrous blunders that can splinter a founding team, strip founders of control, and leave founders with out a financial payoff for his or her effort and progressive ideas. He features the need at each step to affect a careful balance between controlling the startup and attracting the best resources to increase it, and demonstrates why the simple short-term choice is often the most perilous in the long term. The Founder's Dilemmas draws inside experiences of founders like Evan Williams of Tweets and Tim Westergren of Pandora, while mining quantitative data on almost 10,000 founders. People problems are the leading cause of inability in startups. This booklet offers solutions.
