A few years ago, I started a startup with a friend of mine. This friend was not a technical guy, but he was hardworking and did all of the manual tasks that the startup needed. His role was invaluable at the time.
Fast forward a few years later, and the guy has not changed in the least. Even though he studied business, he has not learned any new business skills. He does not participate in any strategy discussions, because he has no ideas. He is unwilling to learn to do software development. He cannot manage any projects - you need to manage him to manage a task.
Basically, he just stayed the same and could not adapt to the changing needs of our startup. He's very comfortable doing manual tasks, but the tasks that need intelligence, he cannot do.
He would be a competent guy as one of the extras in the startup, but due to his founding role, hes at the top. He refuses to part with any money, so I cannot hire anyone else, and he knows that he will not get this opportunity to work in a company like this, so he does not want to sell his shares or quit.
He's extremely poor in communication - often not replying emails or misunderstanding what was asked. So right now, we hardly even talk, much less strategize. His dullness has seeped into me, and the people I manage.
What can I do? Is my only choice to leave the company?
No, you could make him a buy-out offer that is reasonable. If that doesn't work ask him to buy you out based on the same valuation.