The Founder's Dilemas
“Founders who consistently make decisions that build wealth are more likely to achieve what I call a “Rich” outcome (greater financial gains, lesser control), while founders who consistently make decisions that enable them to maintain control of the startup are more likely to achieve what I call a “King” outcome (greater control, lesser financial gains)."
SUMMARY: The book is a surprising first on this topic of the dilemmas founders face with regards to co-founding and partnerships in business. Business relationship fallouts are the number one cause of failure in startups, and this book helps business owners to manage this risk.
TAKEAWAYS: You will learn from case studies – among which is Twitter’s startup story which illustrates the significant and often underestimated consequences, lessons, and logic of founding decisions. You will understand the financial and relationship costs of founding decisions and how the price for early decisions is often paid down the line. You will know how to handle equity among founders, while understanding the combination and interplay of power, growth, and profit. You’ll learn the process to follow in making a decision to partner with friends and family. You will understand the complications of the Chief Executive Officer who is also a Founder, and you’ll discover how to spot the time for change. The lessons you will learn are based on 10 years of solid research and statistics from almost 10,000 founders.
READ IF: You are an aspiring Founder. The earlier you can get these foundational principles in place the better, but this is of course useful to business owners at any stage.