What to Talk About Before / When You Start

07/28/2016 07:22 to watch
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A candid conversation about topics critical to the family can set the stage for healthy communication during the early, stressful days of founding a company.

Suggested Readings

Founders School || Surviving the Entrepreneurial Life || What to Talk About Before / When You Start || Impact Guide (PDF).

Meg Cadoux Hirschberg. "What To Discuss Before Conceiving a Startup”, Inc. Magazine column, December 26, 2012.

Meg Cadoux Hirshberg, For Better or for Work: A Survival Guide for Entrepreneurs and Their Families, An Inc Original, 2012, Chapter 1.

Steve Blank. Blog post. Epitaph for an Entrepreneur.

Steve Blank. Blog: Lies Entrepreneurs Tell Themselves.

Carolyn Brown. 8 Tips for Preparing Your Family for Entrepreneurship. Inc.com , February 25, 2011.

Questions for You

How will our life change?

Will my spouse be more responsible for things on the home front? If so, how will I make up for that?

What are we risking, financially?

How will we protect essential assets?

What will we do with any revenue/profits?

What is our cut bait number?

How we will handle the personal stresses and strains?

What is the exit strategy? Plan B?

Questions for the Family

How will we protect essential assets? What am I willing to risk? For example, is the mortgage on the house an acceptable way to raise cash for the business?

What will we do with any revenue/profits?

What is our cut bait number?

How we will handle the personal stresses and strains?

Do I want to be involved in the venture?

Tools and Exercises

Make a list of the things that are really important for you to maintain: finances, personal relationships, family time, time with children. Discuss this list with your family.

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