BUS 314 Lecture Notes - Lecture 3: Dont, Spreadsheet, Granite Ventures

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 314
• Professor: Andrew Harries

Document Summary

Provide the why when requesting a virtual coffee chat. Have a purpose to meet and be specific. Be slow to build team, start with one. Being a founder is a lonely job. Being a friend is not the primary criteria but it"s the trust. First recruit should be a co-founder with complementary skills but similar style. Leadership team built out to match business phase: Take time to validate your hypotheses, build a compelling vision based on solid evidence. Liveable salary but focus should be on equity: cofounder: 60:40 split, new hires dilute pro-rata, other leadership team: 5-7% each, hold for non-leadership staff: 10% total, for board and advisors: 5% total. 4-5 advisors max: define responsibilities: add one outside director early (trusted, director experience), add 2nd from your seed syndicate, expand post series a only. By security class, round and fully diluted. Fully diluted includes all securities including common shares, preferred shared, options (issued and available) and warrants.