41–50 of 60 posts
Incorporation solves most of these problems: - it forces you to write everything down - it forces you to assign roles - it forces you to establish a board of directors - it forces you to pay out only in dividends at times agreed on by the board of directors
no more problems! one partner wants out? buy his shares!
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This is basically how family works. Every party should have a right to be 'right' in the agreed range of situations (my wife is always right in the house, no matter what). So, the founders should split the territory and then follow to the agreement.
What? This is the formula for building a marriage in which you resent your wife 10 years down the line, not any way to build a successful company.
In fact I have more time to hack things because I can leave a lot to my wife. That's how successful companies get built
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I think he or you are overstating the importance of the domain name. There's nothing inherently special about the Nike swoosh. It just happen to be on shoes that people like to wear.
Yeah, you're way off on that. The swoosh is Nike. When people were mugging each other for Air Jordans, think back: each commercial ended with a silhouette of Jordan about to dunk, and below him, the Nike Swoosh. Show anyone the swoosh and they either associate it with "Just Do It" (again, Nike's trademark) or Nike itself. You might as well claim that Apple's startup chime is just another beep.
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Yeah, you're way off on that. The swoosh is Nike. When people were mugging each other for Air Jordans, think back: each commercial ended with a silhouette of Jordan about to dunk, and below him, the Nike Swoosh. Show anyone the swoosh and they either associate it with "Just Do It" (again, Nike's trademark) or Nike itself. You might as well claim that Apple's startup chime is just another beep.
If it was the Nike cube, there'd be muggings over the cube.
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What? This is the formula for building a marriage in which you resent your wife 10 years down the line, not any way to build a successful company.
Only about 50% of marriages fail in 10 years. On the other hand, only about 45% of businesses make it past 5 years. I would argue that his strategy couldn't be any worse for beating the odds than anyone else's, contrary to what you might believe.
You're trying to have a better strategy, not one that "isn't any worse". Sigh.
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I think he or you are overstating the importance of the domain name. There's nothing inherently special about the Nike swoosh. It just happen to be on shoes that people like to wear.
Yeah, you're way off on that. The swoosh is Nike. When people were mugging each other for Air Jordans, think back: each commercial ended with a silhouette of Jordan about to dunk, and below him, the Nike Swoosh. Show anyone the swoosh and they either associate it with "Just Do It" (again, Nike's trademark) or Nike itself. You might as well claim that Apple's startup chime is just another beep.
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True. But I don't think he would have been satisfied with some fee -- he would have been prudent enough to realize the possibility of success so the contract was inevitable. The woman who designed the Nike Swoosh was simply paid. Several years later the founder of Nike gave her stock to show his gratitude for helping define the brand.
I think he or you are overstating the importance of the domain name. There's nothing inherently special about the Nike swoosh. It just happen to be on shoes that people like to wear.
Earlier quoted context omitted.
What? This is the formula for building a marriage in which you resent your wife 10 years down the line, not any way to build a successful company.
We're married for 12 years, have 2 kids and overall we're quite happy. Just because my wife is always right about the house and kids, does not imply anything how deep our relations are. In fact I have more time to hack things because I can leave a lot to my wife. That's how successful companies get built
I did a cntrl+f on this page for the word 'incorporate' and didn't find one reference. Incorporation solves most of these problems: - it forces you to write everything down - it forces you to assign roles - it forces you to establish a board of directors - it forces you to pay out only in dividends at times agreed on by the board of directors no more problems! one partner wants out? buy his shares!
Best business advice I've been given: always make sure there are an odd number of founders so you can always get a resolution to any disagreements.
I heard something similar, but with a slight twist - when any decision is to be made, make sure you have a prime number of deciders, otherwise there is the possibility of deadlock. I think that's from the founder of Sony? He had a lot of cool ideas like that. Not too many companies have 9 founders, though, so I guess your version works well enough for startups.