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Ask HN: What questions did you ask (or wish you asked) your cofounder?

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Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#11

Post by fest »

jbob2000 wrote: post #6
jamesgagan wrote: post #5

Earlier quoted context omitted.

this site helps answer that one: http://www.backofanapkin.co.nz/start

Oh dang, that's awesome. If only I had it 5 years ago... I actually just want to walk away, my point was more about how can I politely tell you that I don't want to do this anymore? Not so much the legal ramifications of who owns what.

Can't you just say that you've lost interest and want to do something else with your life?

Worked just fine for me at my previous company- client base shrunk to almost nothing and while we could still pay the bills and our salaries, I quit the company and moved to embedded software/hardware. Probably my best decision career-wise.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#12

Post by showtimes »

bacheson1293 wrote: post #3

It's important to determine whether or not the person is qualified and capable. While questions have their merit I'd recommend a more creative exercise. If you have the means, take a trip half-way across the world and live in close quarters for 3 weeks together (while you work to get the business off the ground). If you can't stand them by the end of the trip; walk away. I've been working with my cofounder for 15 yea…

This 1000%. I've been with my co-founder for about 10 years, 3 companies and one acquisition. We're actually related but that didn't matter cause we didn't know each other THAT well. Being able to argue and have a beer after is the key here because it shows its not personal and that the other person or you care enough about your idea to defend it.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#13

Post by seanmcelroy »

The most important element, in my opinion, is one that single questions alone cannot discern: Is this person a workplace psychopath?

I'm not kidding, and this is a real issue. A lot of people who can be great entrepreneurs can also have detrimental effects on your culture, the trust of your clients, and your long-term sustainability. Drive, initiative, passion, aptitude - these are qualities present in great founders and appear to be present in workplace psychopaths.

Get to know this person, and get a strong sense of their values - not from what they say and want you to believe, but from taking in the context of their accounts of what has worked out, and what is not, in their personal and professional life. For people they speak dismissively or negatively of, find them and get their side of the story. You cannot do too much due diligence here - this is critical, especially if you start to become widely successful. Then you're locked in with your partner in the co-pilot seat, and you won't have the desire to bolt or ability to change your decision without significant if not disastrous consequences to your business.

Your values must align, and you must trust this person with your life. Your startup will be your life for the next 7-10 years, by your planning.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#14

Post by kmundnic »

I think it's important to be on the same boat money-wise, while also expecting similar things for the near (or not-so-near) future.

Questions: * Do they have any loans that need to be payed? If yes, how would this affect future decisions to stay in the company? * Are they thinking about wanting to do something they haven't been able to do before (traveling for long, living abroad)? * How much do they need the stability of a regular job?

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#15

Post by mikekij »

"If we got an offer to buy the company for $X, would you take it?"

My team had a specific conversation about that when we started the company. We even picked "a number". 4 years later, we got an offer for that number, and one founder was hesitant to take it. We all pointed back to that conversation when making the decision to sell. Had we not had that conversation, it would have been real fight internally.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#16

Post by mikekij »

seanmcelroy wrote: post #13

The most important element, in my opinion, is one that single questions alone cannot discern: Is this person a workplace psychopath? I'm not kidding, and this is a real issue. A lot of people who can be great entrepreneurs can also have detrimental effects on your culture, the trust of your clients, and your long-term sustainability. Drive, initiative, passion, aptitude - these are qualities present in great founders…

This. I know people dealing with this right now. Not sure what the right screening mechanism is.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#18

Post by j45 »

Partnership is harder than marriage, in part because getting on the same page, and staying on the same page is incredibly difficult.

Mix into this the shiny toy syndrome that co-founders can fall prey to over time, and it really becomes about dating before getting married.

Every partnership is about creating value through leveraging an opportunity together, not leveraging against each other.

If the partner's value is adding sales, their equity should be tied to vesting as a percentage of the lasting sales that stay in.

If they are creating value through code, it should be seen the same way.

I also very much value hacking on small problems in the desired space to get an idea if people can work together and ship regularly before going steady and getting married.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#19

Post by tacon »

bacheson1293 wrote: post #3

It's important to determine whether or not the person is qualified and capable. While questions have their merit I'd recommend a more creative exercise. If you have the means, take a trip half-way across the world and live in close quarters for 3 weeks together (while you work to get the business off the ground). If you can't stand them by the end of the trip; walk away. I've been working with my cofounder for 15 yea…

Clint Eastwood was on some talk show long ago, and he was asked about relationships, girlfriends, etc. He said he tests potential girlfriends by going on a three-hour driving trip. If they still have anything to talk about at the end of three hours, they have potential. I think that would apply very well to cofounders, too.

Re: Ask HN: What questions did you ask (or wish you asked) your cofounder?

#20

Post by gayprogrammer »

Be aware of your own human nature: you will want it to work, more than you will want to accept the signs that it won't (confirmation bias).

You will say to yourself that "little things" can easily be overcome, but people rarely change. People make most choices by their external circumstances and influences, even when they truly want things to be different.

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