Noam Wasserman, Harvard Business School professor and author of The Founder’s Dilemma (see book review), outlines three pitfalls startup founders must avoid.
He talks about the three Rs: relationship decisions, roles decisions, and rewards decisions. Relationship decisions touch on who you co-found a company with, roles decisions involves assigning titles and roles within a team. Finally, reward decisions are about how to split equity.
The process from starting to managing a start-up is a daunting process for any entrepreneur. In that journey, founders from different companies face a challenging set of questions which they struggle to come up with answers for.
While browsing through the Kinokuniya bookstore on a Saturday, I came across this book “The Founder’s Dilemma” by Noam Wasserman, which has the extraordinary nature of combining scholarly research and practical advice on dealing with a couple of sensitive issues from founding team dilemmas to division of equity and other financial rewards among the founding team.
Highly recommended for those who plan to embark or are already living the entrepreneurial lifestyle, it can serve as a guide to very tough situations for founders to evaluate the best possible way out. Read more