Co-founder Conflict - Roles and Responsibilities
This one hits a bit personally for me.
In my first startup, my co-founder Chis and I were great at conflict resolution especially when it came to roles and responsibilities. It was never easy but we were successful.
My second startup my co-founder Andrew and I completely were unsuccessful. We didn’t understanding that what the business needed came first, then how we fit came second.
Honestly, I wish I could do that one over. I think about it often.
Below, I will share a process that came to me in a variety of ways from being in the trenches, from mentors and coaches along the way.
This process has helped hundreds of venture-backed co-founders and teams and I hope it helps you in your journey.
When starting a company, co-founders often come together with a shared vision and passion. However, as the company grows and evolves, it's important to structure conversations about roles and responsibilities to ensure everyone is aligned and contributing to the best of their abilities. Here are five key points to keep in mind when structuring a co-founder conversation:
First, start by acknowledging the roles needed in the company to reach your mission, vision, and plan. This ensures that the conversation is focused on what the company needs, rather than individual preferences or agendas.
Second, review the strengths, skills, experience, motivation, and culture core values of each co-founder. This helps to identify where each person can best contribute to the company's success.
Third, discuss the possible roles that would best fit each co-founder and others in the organization to achieve those goals. This includes identifying the key functional areas such as sales, marketing, finance, operations, product development, and customer service.
Fourth, explore different models for assigning roles and responsibilities. Some companies may have co-founders who take on specific functional roles, while others may find non-leadership roles on a team within a functional area. If there is not a role fit for the founder, many opt to take just an investor role.
Fifth, create an open, equal, and transparent environment open to feedback and ideas from all co-founders. Encourage each person to share their concerns or challenges, and work together to find solutions that work for the greater good of the organization.
Finally, consider bringing in a third-party facilitator, such as a business coach or consultant, to help facilitate the conversation and ensure that all perspectives are heard. By approaching the conversation with sensitivity and open-mindedness, co-founders can create an environment that fosters collaboration and supports the company's growth and success.
Keep Climbing my friends 🚀⛰️
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