FOUNDER KA COALL THINGS CO-FOUNDER!

O JI AAP KON?

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TEXT

BRAG

KYON BHAI?

WHY I AM GIVING THIS TALK

▸ To help you WIN

▸ Paying it forward (in fact back!)

▸ I <3 companies that build a great culture. Think Apple. Google.

FIND YOUR OWN REASONS BUT DON’T FORCE A CO-FOUNDER

WHY CO-FOUNDER

▸ Ek Akela. Kitna Karega (1+1 = 11)

▸ Law of nature, you can only be good at so many things

▸ Startup are hard. Depressing. Why do it alone?

▸ In times of super growth, dividing responsibilities is necessary. Having co-owners helps.

▸ You can’t motivate the best of people without them having a real ownership in the business.

▸ You are building a COMPANY. Not a LaLa company

▸ Pls value professional setup, accountability & governance

▸ Refer: The High Performance Entrepreneur - Subroto Bagchi

LO AAJ KEH DIYA, NOT HAVING A CO-FOUNDER IS OK

WHY NOT A CO-FOUNDER

▸ As a checklist for investors

▸ Many investors do have a thesis of having more than one Fo, but that is no reason to get a Co-Fo

▸ For getting rid of unsexy / boring work.

▸ Your Co-Fo isn’t the guy who will do all the work while you chill, attend events & raise/spend cash. Get your hands dirty!

EVERYONE WANTS A TECH CO-FOUNDER

MYSTERY OF A TECH CO-FOUNDER

▸ You need a partner in wins and losses, not a coder

▸ So being able to handle tech is an addition to other founder skills

▸ A lot of newbies are offered a CTO / co-founder positions in startups because it is tough to find tech talent. DON’T DO THIS

▸ Distinguish if someone is a good techie to be on your team or a Co-founder

SELL YOUR PRODUCT - NOT YOUR SOUL

NON NEGOTIABLE

▸ Values match

▸ Transparency

▸ Make the company win above everything else

▸ Contribute to each others growth

▸ Contradict / fight each other

OH TH PAPAR WORK

LEGALITIES & COMMON MISTAKES

▸ Committing equity In % and not numbers

▸ Delaying the conversation on equity split

▸ Not vesting

▸ Not having clarity of purpose, alignment to a goal

▸ *Founders agreement?

▸ Delaying legal work / paper work / formalising

FOUNDER RULES

MAKING LIFE EASY

▸ Have mentors who are common & neutral

▸ Cc / Bcc founders on important emails

▸ Even as roles differ, work piles on - Take time to sync on progress, meetings, internal challenges, people issues

▸ Learn from each other & figure where you can replace each other (eg: geographical expansion, branch office, campus hiring, investor meetings etc)

DISCLAIMER: I HAVE LIMITED EXPERIENCE ON THIS

HOW INVESTORS LOOK AT THIS

▸ Is my investment safe in absence of any one founder?

▸ Is this a duo (or trio …) who can build a team around them and achieve the goals?

▸ Do they collectively have the necessary skills to take this off the ground?

▸ Given the equity split - would the founders have enough skin in the game after a Series A / B?

EVERYONE SAYS TEAM IS EVERYTHING, LET’S UNDERSTAND WHY

BUILDING A TEAM & CULTURE

▸ Defined Values

▸ Don’t compromise on cultural fit

▸ Make it scalable - Each additional member should take it forward in your absence

▸ Fire soon. Please

▸ Policies. Uff.

▸ Performance culture

IT DOESN’T MAKE SENSE TO HIRE SMART PEOPLE AND TELL THEM WHAT TO DO; WE HIRE SMART PEOPLE SO THEY CAN TELL US WHAT TO DO.

- SJReality can be more nuanced than this. but do remember this. don't hire people who will fit into your way of things. You need misfits who will challenge you. I purposely contradict my team and let them practice how to challenge and argue with me.

KYA KARE KYA NA KARE

THE KOSCHENS

▸ Should you give ESOPs to save on salary?

▸ Co-founder or core team?

▸ Consultants? Outsource?

▸ Setting KPIs / KRAs. Uff

▸ HR Techniques:

▸ Separate yourself from company

▸ Rules are for everyone

▸ A good HR / Finance will be a crucial hires

THE GROUND REALITY

CHALLENGES AS THE TEAM / COMPANY GROWS

▸ Communication gaps

▸ Hiring for experience

▸ People do leave & it can be heartbreaking

▸ Letting go is tough & going ahead your managers need to do that. Empower them

▸ You will need to learn how to manage culture, friendship & business. But Leadership = Intent.

INTAKE DEFINES OUTCOME

HIRING IS EVERYTHING

▸ Hiring will take time to master. Don’t assume you are good at it. Don’t assume it will be any easy for you. Everyone struggles.

▸ Story 1: G

▸ Story 2: At Pricebaba

▸ Don’t Hire Family

PRICEBABA KE PYAARE LOG

CASE STUDIES

▸ Shivam

▸ Maria

▸ Nishit

▸ Rohan

▸ Dhruv

▸ Bhumil

▸ Keyur

RAM BAAN

ONE VERSION

NIRVANA

THE FORMULA

▸ Hire great people

▸ Define the problem very well

▸ Get out of their way!

POSTCARDS FROM PRICEBABA.COM <3

MOST IMPORTANTLY

AT THE END DHANDHA MATTERS.

MAKE MONEY. PLEASE.

@ANNKUR