FI Miguel Mascarenhas

7/29/2019 FI Miguel Mascarenhas

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Cofounders, Hiring and Firing

The Founder Institute

Miguel Mascarenhas



Cofounders



Cofounders

Why a cofounder?

• You (most likely) won’t be able to start a competitive

business by yourself;• Your cofounder will be an extend of your self-

conscience and you will validate almost all the ideas

with each other;



Cofounders

How to deal with a cofounder?

• In the next years, you are going to spend more time with your

cofounder than with your partner / family / friends;

• Your cofounder will become part of your life, but in the end it’s all

about business;

• Creating a company with a cofounder is similar to marriage - be

prepared for divorce – even if business is going well;

• Although cofounders share the same vision, they have different

objectives in life or are in different periods of their lifes.



Cofounders

How to find a right cofounder?

• You are more a manager style: search someone who has

already started something in a field you understand and

appreciate;

• You are more the creator style: share your idea / work with

someone who can help you develop it further;

Look in forums / social sites / university / specialized courses /colleagues

• You need to share the same vision of the market / opportunity

– not necessarily the same skills



Cofounders

What will be the roles of the cofounders?

• Your cofounder is somehow your first hire: will need

to do the work you aren’t expert of (or don’t like todo)

• Even if you are a “genious”, someone who takes 20%

of the workload is valueable – don’t get demotivatedif the other cofounder isn’t able to “deliver” the work

you expect



Cofounders

Where to start the business with your cofounder?

• In a very short time, you’ll need to be able to

impersonate your cofounder (in terms of what eachone thinks/works)

• Start in a small room (or attic / garage) – the

cheapest and most effective way to make sure youget along well and you communicate faster



Hiring



Hiring

- Start to look for routine tasks and find people who

are able to execute them (students, part-times, etc.);

- Your first hires shouldn’t be experts or “gamechangers” – if that’s the case, probably the actual

cofounders aren’t the right ones;

- If an expert is needed: invite them to join thecompany, instead of paying high salaries and have a

huge recruitment process



Firing



Firing

- You usually won’t fire your first hires, as they’ll have

more experience , know the company culture and

company processes better than anyone;- Don’t expect the employee to change it’s basics –

check if people with similar roles act in a similar way;

- In case of firing, the process should be simple andclear



Cofounders, Hiring and Firing

About sharing experience:

“You gain strength, courage and confidence by every

experience in which you really stop to look fear in theface. You are able to say to yourself, 'I have lived

through this horror. I can take the next thing that

comes along.' You must do the thing you think youcannot do.” - Eleanor Roosevelt



Thank you

Documents

FI Miguel Mascarenhas