Build: True Connect Lab
You're starting a new business or taking on a large project with one or more partners. This is a serious commitment, and you want to be confident that you're all on the same page. By working through critical partnership questions such as how to divide the work, how to allocate decision-making, and how to share the profits (or make up a loss), your founding team can reduce uncertainty and leverage your strengths.
HOW THIS IS CRUCIAL TO YOUR BUSINESS: Issues such as founder motivations, equity splits, and division of labor among co-founders can make or break a company. 65% of startups fail due to co-founder conflict.* Most new businesses get started with a focus only on the business idea, and ignore the critical relationship between the co-founders who will make the idea a reality. True Connect gives you access to a comprehensive process facilitated by neutral third parties to ensure you work out the foundational issues that can be very difficult for you to discuss on your own. By committing to work with us, new partners ensure that they devote the time and energy to laying a strong foundation for their working relationship, a critical factor in turning your idea into a successful business.
HOW IT WORKS:
The True Connect Lab includes 3 sessions with us that help you identify and articulate what you each envision and how you plan to achieve that vision, with prep work to be completed in advance of each session. Two facilitators guide you in discussing practical matters like who will be investing what in terms of money, skills and other resources; how you will deal with contentious issues; and what kind of exit strategy you each have in mind. Our sessions can take place in our Boulder office, or via Skype for clients located outside the Boulder/Denver metro area.
Our time in these sessions is best utilized if you have already prepared a budget, timeline, and financial projections.
After our meetings, we will prepare a summary report which will contain understandings reached in our sessions about your working relationship. We encourage you to revisit it often and use it to check in with your partners. You may also choose to incorporate its contents into agreements, resolutions, business plans, and other documents that will continue to guide your business and your relationship as partners.
Interested in learning more about how we can help you? Schedule a 15 minute discovery session with us.
*Source: The Founder's Dilemmas, Book by Noam Wasserman.