Fayetteville Springdale Rogers

Not long ago I met an intense young man, college student working on his business degree and he decided that he really liked a project that we were working on. He decided after many emails that he in fact wanted to be a co-founder along with myself and another gentleman and asked the unreasonable question, can I be a founder too, entitling him to Founder's Stock and a hefty paycheck. The answer might surprise you, as I replied:

If your expertise and creative genius shows thru then it makes sense to have you on board as founding member. I do not have the final say, it must be mutually agreed upon with the other founder and if we are set on slicing the VC (venture capitalist) into huge chuck of the Pizza, we ought to be talking to him as well pretty early on. Of course, all this discussion is based on performance, therefore if your abilities, hard work ethic and great ideas fit the entrepreneurial start-up scenario, that makes sense of course.

The fact of the matter is that indeed, I would love to clone myself and once I think it is feasible that will be a start-up business for me in the future, right now, I have to find out of the box thinkers who can still live in the real world when dealing with all the rest of the business community and the persnickety customer base we will surely generate - easier said that done.

If I like his ideas and they are good, then it makes sense. These ideas must also allow for making money, providing a world-class product and good strategies to dodge the landmines and exit smoothly, then we definitely need him in a big way. Of course, the other founder needs to make that decision, if he asks me what I think; I think then yes, I believe the college student would be a good team member.

When reviewing this scenario, it seems the if we come to a good understanding, solid plan and agree to the plan then the college student will have lots of control. The funders of this project also have control and they are very much part of the success of the team, because they come with a team of their own which may have done this 50 times before and they know the ropes.

When using this as a case study we must remember that no one is part of the Team, since there is no team yet, we have to work out a plan and sit down and agree upon it, if the college student is volunteering to help design the plan and tailor it then it makes sense. Indeed we must be cognizant of the needs of the investors too, as we can use their team of lawyers, human resource people, industry contacts, then it surely makes sense to have an "inside guy" of the VC on the executive team. We have to work with them; most start-ups get the money, and hold the check until they talk to their lawyers; that is no way to play your investors, especially down the road when the going gets good.

Do you know why the US will not go to war with China? Our economies and mutual goals are intermingled; think on it, again, sorry for all the philosophy on this simple case study, but my mind just does that.

You know the other founder may simply say he does not like the way it is being planned, if we cannot come to a strategy to agree on, he might decide to opt out, then plan B. In reality, as far as I am concerned, I have enough friends, contacts, etc. to get all this done on my own, but I have been down that bumpy road before, it takes a lot out of you, sure you can do it. Why re-invent the wheel when you have a VC who has cleared a four-lane highway on the cover of Ayn Rand's Fountain Head re-prints. Remember Together Everyone Accomplishes More.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington