fi miguel mascarenhas
TRANSCRIPT
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 1/13
Cofounders, Hiring and Firing
The Founder Institute
Miguel Mascarenhas
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 2/13
Cofounders
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 3/13
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;
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 4/13
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.
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 5/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 6/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 7/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 8/13
Hiring
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 9/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 10/13
Firing
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 11/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 12/13
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
7/29/2019 FI Miguel Mascarenhas
http://slidepdf.com/reader/full/fi-miguel-mascarenhas 13/13
Thank you