# Navigate Cofounder Relationships - Part 1 ## Introduction Research shows that 65% of companies fail due to problems within the management team. This 2-part worksheet is designed to help you build a stronger relationship with your cofounder and address problems early to avoid a blowup and/or break up. ## Steps to Building a Positive Cofounder Relationship ### Step 1: Reality Check List any tension points between you and your cofounder and the steps needed to resolve them. ### Step 2: Get Your Documents in Order Discuss the "What Ifs" that need to be addressed with your cofounder and the documents needed to protect the business. ### Step 3: Understand Your Cofounder Identify each other’s strengths and weaknesses, personal goals, pacing, signs of burnout, financial concerns, and culture values. ### Step 4: Set Clear Goals Discuss your vision for the company and whether they align with your cofounder's. ### Step 5: Discuss the Elephant in the Room Prepare for tough conversations and develop a communication diffusion plan. ### Step 6: Build Trust With Your Cofounder List the actions you are taking to build trust with your cofounder. ### Step 7: Get Help Identify who can provide guidance to improve your relationship. ## Cofounder Conversation Exercise This exercise is designed to get you thinking about your and your cofounder's performance levels and open a discussion around any variance. # Navigate Cofounder Relationships - Part 2 ## Cofounder Discussion Topics – Part 2 This exercise is designed to help cofounders assess themselves, their family situation, finances, etc. It is best when cofounders complete the worksheet separately and discuss their answers. ### Passion, Strengths and Weaknesses Discuss why you are building a startup, what excites you about your company, your role, your strengths and skills, and what you appreciate about your cofounder(s). ### Personal Wellness Discuss the measures you are taking to maintain physical stamina and cope with the emotional ups and downs of handling a new business. ### Business Dynamics Discuss the types of people you plan to seek out to join/help your startup, your current role in the company, potential changes to your role, and your vision for a successful outcome for your business. ### Culture Discuss the cultural values that are important to you, how you are implementing these values into the company, and whether you feel aligned with your cofounder to implement these values. ### Finances Discuss your financial expectations for the first few years, your willingness to lower your standard of living, your personal financial limits, your personal investment in the startup, your current personal expenses, your financial runway, and any other financial concerns.