I talk to people all the time who are just starting businesses or are considering it, and one of my top pieces of advice is always to find a great co-founder. I can say with 100% certainty that if I were not working with Foram and Katie and had to build ALV all on my own I would have given up by now. It’s not because I’m not a smart enough or capable enough individual; it’s because starting a business is freaking hard. It requires such a wide variety of skills, but most importantly, it requires unrelenting stamina, both physical and emotional. It’s unfair of me, however, to just say, “Find a great co-founder, and you’ll be fine!” It’s a gross oversimplification of the work that goes into making a healthy co-founding team function (keep in mind, that most of this is applicable to any senior leadership team). Just like a marriage, we work at it. We constantly evolve it. As icky as it may feel (for me anyway) we talk about our feelings. Here are some of my tips for maintaining a high-functioning, highly supportive co-founding team: Have the tough conversations. Let’s just get this one right out in the open because it’s obvious but also something so many people avoid. It is incredibly rare that major issues just work themselves out. I dare you to find one co-founder who swept a significant issue or disagreement under the rug, and it went away on its own. You spend your life with these people. Your livelihood depends on these people. Issues are amplified, and most of the time if they aren’t addressed they fester. To the point where you can physically feel yourself getting mad when even something tangential to the issue gets brought up. As uncomfortable as it may be, you need to discuss it. At ALV we have quarterly partner meetings where we force ourselves to take a step back from the day-to-day operations and discuss, you guessed it, our partnership. We also talk strategy and goal-setting, but a core objective, one that we never allow to fall off the agenda is to talk about our relationship, what’s working and what’s not. Some things we always discuss: What’s happening in our personal lives which may be relevant to the business (e.g., family planning, financial considerations, moves, health considerations with us or our families). It may feel unnecessary to discuss this stuff, but the reality is these things do impact your energy, your work and your availability. They are things which, if not out in the open, can lead to false assumptions and bitterness. If I know you’re out every Friday because you’re taking care of a sick parent versus throwing back champagne at brunch (though I personally have respect for both), my response to you being out of office will be quite different. We go around in a circle and share what we think each co-founder is doing really well. This is not only a feel-good exercise, but it helps us to identify things we didn’t necessarily know we were strong at or were contributing to the team. It helps us reprioritize for the future. We also share what we think each co-founder can improve upon. When this is offered in this safe, supportive space versus a piece of feedback fired off in the heat of the moment, it is always so much more well-received. Separate from skills and leadership, we also discuss opportunities for improvement from a strictly “what am I doing that’s pissing you off” standpoint. It could be something as simple as “I hate when you misuse this word” to “you’re constantly five minutes late for meetings.” It’s these little things that build into resentment over time. Get ’em out there. Get ’em resolved. What new partnership strategies we need to implement. For example, we recently introduced the act of stating our care factor (1 being not that important and 5 being very important) before voicing an opinion about a decision. We found that we could have a passionate debate for a long time only to find out an hour later that no one was actually all that passionate about the thing we were discussing. We were debating because we had an opinion, not because we cared all that much about the outcome. Our new, simple strategy of saying “I’m a one on this” helps us give more time and energy to the things that actually matter to us and helps us resolve disagreements more easily when it’s clear that one founder cares about that particular thing a lot more than the other. Treat your business with the same professionalism as any other company. It’s easy to slip into this mentality that because it’s your business, you don’t have to be quite so buttoned up. In some ways it’s true. After all, I wear sweatpants to 90% of my meetings (video conferencing is a beautiful thing). Things like timing and location of work, you have a lot more flexibility on. But things like how you show respect to colleagues should be no different. If we have to cancel a meeting or miss a business trip, we send a formal communication to the relevant parties and help them plan coverage. If we want to take a Tuesday off because our spouse has some time off, we do it, but first we circulate the idea with the team to ensure there is nothing that will fall through the cracks. Sure we could all say, “Well technically I’m my own boss so I don’t have to ask permission,” but that’s not the point. The point is to hold one another with the same regard and show the same respect that we would to any other colleague. Find the time and place. You most certainly don’t want to wait for quarterly meetings to provide feedback – timeliness is important for many things. That being said, you always have to remember that your team will pick up on your
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