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Why Founders Get Fired
October 17, 2017 @ 2:00 pm
The Founder-VC relationship can go very well, or very badly, depending on the expectations and perspectives that both parties bring to the (Board) table. Founders often get great advice about how to raise money and find customers, but little about how to navigate the nuances of choosing and interacting with their investors so that, as their companies grow, they can stay as respected, contributing members of the team.
This workshop will include actionable tactical advice and strategy for:
(i) understanding where the main tension points are between founders and VCs
(ii) diligencing VCs to avoid those with the worst reputations
(iii) ensuring transparency and alignment as everyone fulfills their fiduciary duties to their stockholders.
- Rich vs. King: Kings and VCs don’t mix
- Coaching vs. Undermining: You want VCs who will coach you – diligence with them before closing
- Avoid “Captive” Advisors: Find trustworthy advisors (including lawyers) who are independent from the money
- Legal Strategy: Balanced boards, voting control, and the importance of truly independent directors
- Plan for Succession: New management should be recruited transparently, with founder involvement, to ensure trust