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Questions to Ask Your Potential Cofounders - The Master List

Hey everyone!

Remember that time when we asked you for questions you might want to ask
your cofounders? Well, Jessica has consolidated that discussion, and with
thoughts from herself and other folks into our latest blog post! Check it
out here: Questions to Ask Your Potential Cofounders <http://bit.ly/SGEyvN>.

What other questions would you add to the list? Or do you have any specific
thoughts on any of the items on there?

Hayden

P.S. If you would also be so kind to spare us an upvote on Hacker News, be
sure to scroll down to the end of the post and hit [Y] button!

2 Replies

Andres Buritica
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0
Andres Buritica Entrepreneur
Entrepreneur in Residence at MuckerLab

I didn't see:
If the company becomes profitable who gets the earnings?
What happens if one of us leaves the company?

Stefan Brunner
0
0
Stefan Brunner Entrepreneur
Cofunder and COO at TheTechMap, Inc

Also interesting questions:

-          Permission to work in the US or abroad where we do business. Visa
sponsorship requirements.

-          How much money do you put in BEFORE angel or first round in order
to develop a concept.

-          Any constraints to work on certain days, hours or seasons
(because of family, spirituality, day-job, etc.)

-          Reasons for divorce, reduction of commitment: (change in
professional focus, level of commitment, irreconcilable differences,
disease, death/hereditary, unethical/criminal behavior inside/outside,
competition/conflict of interests, cash out, etc)

-          Family supportive of venture?

-          Mobility: are you (and your family) ready to relocate if we
should decide so for business reasons? What are the constraints - how do we
work them out?

-          Communication style: courtesy lie over inconvenient truth.
Willingness to get into an argument and resolve conflicts over pretending
everything is fine. Readiness for compromise.

-          Risk position: conservative, risk averse, game theory, yield/risk
ratio, etc. (individuals differ greatly, a diverse couple might make a good
match, but it needs to be known)

-          Background check: criminal, credit history, ethics complaints,
licensing, references.

-          Decision making: veto powers, joint signature requirement,
documentation

-          Expansion: power shifts to new management, advisors, board,
investors (personalities are different, some people might not be ready to
share)

-          Growth strategy: organic vs. third party investment (cultural
differences)

--- Stefan

From: [removed to protect privacy] [mailto:[removed to protect privacy]]
On Behalf Of andres
Sent: Tuesday, December 04, 2012 1:30 PM
To: [removed to protect privacy]
Subject: [FD Members] Re: Questions to Ask Your Potential Cofounders - The
Master List

I didn't see:

If the company becomes profitable who gets the earnings?

What happens if one of us leaves the company?

On Monday, December 3, 2012 7:52:06 AM UTC-8, Hayden Tay wrote:

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