

Co-founders: Please pull your weight - cont4gious
http://andrebluehs.net/blog/2010/09/co-founders-please-pull-your-weight/

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joystickers
Have you already formed your entity: LLC or corporation?

The best way to avoid this problem is to start the company yourself. Put
everything in your name regardless of your skill set. Buy the domain,
incorporate the company, get a basic site up, get a logo, create the twitter
account, etc. Now you have complete control over your company and the percent
ownership you retain: 100%. This gives you the leverage to make someone a co-
founder based on performance, not initial enthusiasm and an idea.

If you already formed your entity then things are going to get a little dirty.
First, talk with the other co-founder that is pulling his weight and write
down everything that you guys do. Write down everything that you two are
responsible for that the third guy can never catch up to: professional
relationships built, developer stuff, etc. Write down everything the slacker
is responsible for and what little he's actually done. Next, talk with your
supporting co-founder about how to split up the company. Should the slacker
get 10%? Less? What does he bring to the table? 15+ years of experience isn't
worth 1% if it doesn't bring any tangible value.

Then the dirty part: confront Bob. Read Dale Carnegie's "How to Win Friends
and Influence People" first. The more aggressive you are during this
conversation the uglier the outcome is going to be. Be honest with him, but
don't say "You do nothing." Say things like "I feel like I'm getting hosed
here. I do 50% of the work for only 33% ownership". Notice the difference in
perspective? You're not blaming him for anything. Go over everything you and
Fred have done. Ask Bob what results he has to show for his work. Negotiate
terms and let him know that work has to get done.

If that doesn't go well, depending on your operating agreement, boot him from
the company or dissolve it and start a new one.

Hope that helps and good luck!

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cont4gious
thanks. i fear confrontation might be the only available option at this point.

------
lzw
You're trashing one of your cofounders in public? Even if all you say is true,
it reflects on you a fair bit...

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cont4gious
you're absolutely right. Thanks for the reality check. I just needed to get it
off my chest and that was the inappropriate way to do that.

The post has been updated to be a bit more level-headed.

