Think Before You Leap
Noam Wasserman of the Harvard Business School cautions entrepreneurs to take a step back and think before they take the proverbial leap. In a new Kauffman Sketchbook clip, Wasserman says one of the most important decisions entrepreneurs will face is "Should they go it alone, or bring in cofounders, hires, and investors to help build the business?"
The question is also at the heart of his new book, The Founder's Dilemmas which examines the early decisions by entrepreneurs that can make or break a startup and its team. Is it a good idea to cofound with friends or relatives? How and when should you split the equity within the founding team? What are the signs that a successful founder-CEO should exit or be fired?
The Founder’s Dilemmas draws on the inside stories of founders like Evan Williams of Twitter and Tim Westergren of Pandora, while mining quantitative data on almost ten thousand founders.